Economics Roundtable

Database Maintenance 7/4/15

Routine database maintenance will induce some duplicated items for the next day or two.


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 .


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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


July 31, 2015, 5:03 pm, 1519629

Yesterday, the Senate approved a three month extension of the Highway Trust Fund. The bill, called the Surface Transportation and Veterans Health Care Choice Improvement Act, would fund the Highway Trust Fund until October 29th by moving $8 billion dollars from the general fund. It would pay for the ...


July 31, 2015, 3:03 pm, 1519540

501(c)3 charitable organizations collected $1.73 trillion in revenue in 2012, according to statistics released by the IRS on Wednesday.

This figure represents the highest level of revenue ever received by charitable organizations, up from $1.65 trillion in 2011. Charitable organizations now make over three times as much revenue as ...


July 31, 2015, 11:03 am, 1519381

This week, Representatives Charles Boustany (R-LA) and Richard Neal (D-MA) introduced a discussion draft on the “Innovation Promotion Act of 2015.” This act would introduce what is called an “innovation box,” or patent box to the U.S. tax code.

Simply put, a patent box provides a lower tax rate on ...


July 30, 2015, 7:03 pm, 1518873

This week’s map is a GIF showing the year each state adopted its gasoline excise tax. Oregon was the first state to do so in February of 1919 (Colorado, New Mexico, and North Dakota also enacted them later in the year). By 1929, every state in the union at ...


July 30, 2015, 11:03 am, 1518555

“No Car Tax.” As political slogans go, Virginia Governor Jim Gilmore’s 1997 cri de coeur was admirably clear. No vague, aspirational statements about renewing, reclaiming, or reviving anything; just: the car tax must go.

Gilmore’s anti-car tax campaign was a political masterstroke, and in his first year in office, he ...


July 28, 2015, 7:03 pm, 1517258

Democratic presidential candidate Hillary Clinton has proposed a change in the top capital gains tax rates. Under current law, such capital gains have a two-tiered structure: short-term gains face a top rate of 43.4 percent (including the 39.6 percent statutory rate plus the 3.8 percent investment income surtax) and ...


July 27, 2015, 7:03 pm, 1516512

After a year of parliamentary debates the French Parliament adopted an Energy Transition for Green Growth plan on Wednesday the 22nd of July. As part of this plan the carbon tax will almost quadruple for the current rate of €14.5/tCO2 to €56 by 2020 and increase to ...


July 24, 2015, 3:03 pm, 1515257

Greece’s economic problems began long before the current debt crisis. In 2009, the Greek deficit was approaching the EU limit of 3% of GDP. Fearing economic sanctions by the EU, the Greek government passed tax increases to reduce deficits.  One of the tax increases was a 10% surtax ...


July 24, 2015, 1:03 pm, 1515160

If you desire to travel in interstate commerce, first you must let go of the rope. That, at least, is the conclusion of the Missouri Department of Revenue with regard to the applicability of the state's sales tax to tethered (taxed) and untethered (untaxed) hot air balloon rides. ...


July 23, 2015, 1:03 pm, 1514353

This week’s tax map takes a look at state gasoline tax rates, using data from a recent report by the American Petroleum Institute. Pennsylvania has the highest rate of 51.60 cents per gallon (cpg), and is followed closely by New York (45.99 cpg), Hawaii (45.10 cpg), and California ...