Economics Roundtable

May 2014 Payroll Employment

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

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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 .


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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


December 5, 2016, 5:03 pm, 1699939

As the tax reform debate begins to heat up, businesses and investors are beginning to pay closer attention to the House GOP Tax Reform Blueprint, a tax plan released last June by Speaker Paul Ryan and House Ways and Means Chairman Kevin Brady. The Blueprint is designed ...


December 5, 2016, 3:03 pm, 1699884

With 2017 just around the corner and state policymakers beginning work on next year’s legislation in earnest, it’s worth pausing to review recent trends in state taxation to glean hints of what to expect in the year to come. Here are a few trends we’ve been seeing in recent ...


December 2, 2016, 7:03 pm, 1699410

The OECD released their Revenue Statistics publication for 2015 this week, revealing the total tax revenue as a percent of GDP of the OECD countries has risen by 10 bases points. The increased tax revenue was driven by an increase in income tax collected in the largest OECD ...


December 2, 2016, 3:03 pm, 1699335

Each year, the Tax Foundation honors state legislators, executives, and other individuals with its Outstanding Achievement in State Tax Reform award. As the name suggests, the honoree's accomplishments must be (1) outstanding, (2) an achievement (not merely a proposal) during 2016, and (3) reform taxes to make them more simple, ...


December 1, 2016, 7:03 pm, 1699072

In 30 days, over a million people will crowd into Times Square to watch the ball drop. Families across the country will sing Auld Lang Syne and toast to the new year. And, amidst the celebration and revelry of New Year’s Eve, 36 minor tax provisions are set to ...


December 1, 2016, 7:03 pm, 1699071

The news of the day is that President-Elect Donald Trump and Vice President-Elect and Indiana Governor Mike Pence have together secured a deal to keep a Carrier furnace plant in Indiana. The plant will retain 1,000 jobs that the company was planning to move to Mexico. Some thoughts ...


December 1, 2016, 1:03 pm, 1698951

Today is December 1, the date in 1867 when the U.S. Supreme Court decided Crandall v. Nevada, ruling that states cannot impose a tax on leaving the state. Nevada had imposed a $1 exit tax on all people leaving the state by railroad, stagecoach, or other vehicle. Crandall, ...


November 30, 2016, 3:03 pm, 1698644

Today is November 30, Mark Twain’s birthday. He once said, “The only difference between a tax man and a taxidermist is the taxidermist leaves the skin.”

Here are some interesting links I came across:

Trump Picks Mnuchin for Treasury Secretary: The banker and film producer was Trump’s campaign finance chairman.


November 30, 2016, 11:03 am, 1698552

Yesterday was Giving Tuesday, but the giving season has just begun. If you love our blog, we hope you’ll consider making a special year-end gift to support the Tax Foundation's work in 2017.

As 2016 comes to a close, we're taking a look back at what has been our most ...


November 29, 2016, 1:03 pm, 1698229

Today is November 29, the date in 1977 when the U.S. Supreme Court decided Commissioner v. Kowalski, which held that taxable income includes cash payments replacing a previous employer-provided direct benefit.

Robert Kowalski was a New Jersey state trooper who did not report as income on his tax return ...