Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

Click on the image to get a bigger version.


The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .

Click on the image to get a bigger version.

Graph-of-the-Year Candidates

Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?

Brad DeLong favors the U.S. gdp gap.

Remember M1?

Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?

Click on the chart for a larger version.


The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.

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Tax Foundation

December 19, 2014, 5:03 pm, 1392315

Japan looks likely to cut its corporate tax rate by 2 to 3 points in 2015, according to Bloomberg:

Japan’s corporate income tax may be cut by more than 2 percentage points next year and reduced to less than 30 percent within five, Economy Minister Akira ...

December 18, 2014, 7:03 pm, 1391775

The Washington Post has denounced the inclusion of bonus depreciation in the just-passed tax extenders bill for 2014. The correct term is “partial expensing.” There is nothing “bonus” about it. The partial expensing allows businesses to deduct immediately (expense) half the cost of their equipment spending in ...

December 18, 2014, 3:03 pm, 1391634

Technically speaking, Vermont’s gubernatorial election isn’t finished yet, but universal health care is. A long-awaited blueprint for the state’s planned transition to single-payer, just released, has been termed “detrimental to Vermonters”—not by the opposition, but by the Governor who made single-payer health care his signature issue.

Because no candidate received ...

December 17, 2014, 5:03 pm, 1390986

While the media has been feasting on Lux Leaks and other stories of “multinational tax dodging”, academic accountants have determined that U.S. multinational corporations (MNCs) have no particular tax advantage over U.S. domestic firms. In fact, a new study finds the average effective tax rate for ...

December 17, 2014, 5:03 pm, 1390985

There has been considerable discussion about the corporate tax system in the U.S. and the IRS’s global reach in the media over the past year. The rash of corporate inversions was the catalyst for the public discussion of the outdated worldwide corporate tax system, which only six other countries ...

December 16, 2014, 9:03 pm, 1390331

The U.S. Senate has approved a one-year extension of the tax extenders bill, a grab bag of around 50 tax provisions for businesses and individuals. The bill will cost $42 billion over ten years and applies retroactively to the 2014 tax year. The House of Representatives passed their ...

December 16, 2014, 1:03 pm, 1390056

The Russian ruble fell sharply in value last night, losing about a fifth of its value against the dollar. This came despite a substantial rate hike by the Russian Central Bank in an emergency effort to preserve the value of the troubled currency.

The main source of Russia’s economic ...

December 16, 2014, 11:03 am, 1389973

Andre Young, the producer, performer, and businessman known by the stage name Dr. Dre, took a commanding lead in the Forbes list of the world’s highest-paid musicians of 2014. With earnings of $620 million, he had a more than five-fold lead on the second-place musician, Beyoncé Knowles. In fact, by the Forbes data, he ...

December 16, 2014, 11:03 am, 1389972

The Internet Tax Freedom Act (ITFA), the moratorium on taxing internet access, was given a year-long extension when the Senate passed the omnibus spending bill this past Saturday. This is the fourth extension of the bill, first passed in 1998.

This means a continued, yet not permanent, ban ...

December 15, 2014, 11:03 am, 1389245

Today, State Tax Notes named the Council on State Taxation (COST), who represent the voice of the business community on key state tax issues, as its 2014 Organization of the Year (subscription required). We at the Tax Foundation had won that recognition for three years running and while ...