Economics Roundtable

Technical Problems 3/9/15

The website was down several hours today, but is back up now.


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.


Jobs

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.


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Tax Foundation


May 29, 2015, 7:03 pm, 1482943

I recently attended a lecture given by Arnold Kling, who is a former Federal Reserve economist on the Board of Governors staff, former senior economist at Freddie Mac, and all-around financial and monetary expert. The talk was very interesting--his appraisal of the housing collapse is that it was ...


May 29, 2015, 5:03 pm, 1482878

Manal Corwin is the National Leader of the International Tax practice of KPMG LLP and Principal in Charge of Washington National Tax—International Tax Policy. She is the former Deputy Assistant Secretary for International Tax Affairs in the Office of Tax Policy at the U.S. Treasury Department.

Ms. Corwin is ...


May 29, 2015, 3:03 pm, 1482795

Last year we wrote that negative GDP growth illustrates the need for bonus depreciation. The same is true exactly one year later.

This morning the Bureau of Economic Analysis (BEA) revised its first quarter GDP growth number downward. The revised estimate pegged GDP growth at -0.7 percent for ...


May 29, 2015, 11:03 am, 1482614

Douglas Shackelford is the Dean of the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill and the Meade H. Willis Distinguished Professor of Taxation.

A world-renowned authority on taxation and business strategy, Dr. Shackelford has studied the profit shifting phenomenon since its early stages. His ...


May 29, 2015, 9:03 am, 1482533

A big day in state tax yesterday, good and bad:

Texas: The Texas House approved a reduction in the margin tax (modified gross receipts tax on business) by 25 percent coupled with an increase in homestead exemptions in the property tax, sending the combined bill to Governor Abbott’s desk. ...


May 28, 2015, 7:03 pm, 1482223

Douglas Shackelford is the Dean of the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill and the Meade H. Willis Distinguished Professor of Taxation.

A world-renowned authority on taxation and business strategy, Dr. Shackelford has studied the profit shifting phenomenon since its early stages. His ...


May 28, 2015, 5:03 pm, 1482147

States depend on a variety of sources for tax revenue, but one of the most common are individual income taxes. This week’s map shows state and local combined individual income tax collections per person in the 2012 fiscal year (the latest data available).

Click on map to enlarge. (See our ...


May 28, 2015, 1:03 pm, 1481977

This op-ed originally appeared in the Las-Vegas Review Journal here.

A very different ...


May 28, 2015, 9:03 am, 1481796

The IRS announced this week that hackers successfully stole sensitive information from over 100,000 taxpayers using the IRS' online Get Transcript service. Identity thieves used this data to file fraudulent tax returns, stealing an estimated $50 million in tax refunds. In their statement, the IRS says they discovered the fraudulent ...


May 27, 2015, 7:03 pm, 1481488

In this second part of the halftime report for Tax Foundation Forum: Making Sense of Profit Shifting, we discuss the key takeaways from the first half of our series on profit shifting (read part I here). In this post, we’ll cover themes four through six:

Missing pieces for ...