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?


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Tax Foundation


July 29, 2016, 1:03 pm, 1658666

On July 14th, the IRS held a public hearing for the debt-equity rule (section 385 of the IRS code) that the Treasury Department proposed last April. The hearing, which had as many as 16 speakers from various industries, was only a supplement to almost 30,000 comments that ...


July 29, 2016, 11:03 am, 1658616

Today is July 29, the first day of back-to-school sales tax holiday weekends in Mississippi and Tennessee. (Georgia starts tomorrow.) Sales tax holidays sound great but distract from real, permanent, and economic beneficial tax reform. There’s little economic growth effect because consumers mostly shift the timing of planned purchases, not buy ...


July 28, 2016, 1:03 pm, 1658206

Last week, the Tax Foundation released an analysis that showed prices would increase in Oregon if Initiative Petition 28 (IP28) is adopted by voters in November. The Legislative Revenue Office (LRO) predicts an increase of 0.9 percent, due to the proposed tax increase. Earlier this week, ...


July 28, 2016, 1:03 pm, 1658205

Today is July 28, Bill Bradley’s 73rd birthday. Bradley, a Hall of Fame basketball player, was U.S. Senator from New Jersey from 1979 to 1997. Senator Bradley was a lead champion of the 1986 federal tax reform. Happy birthday, Senator!

Here are some interesting links I came across:

Trump Says Tax ...


July 27, 2016, 1:03 pm, 1657732

Today is July 27, the date in 1940 when Bugs Bunny debuted. The ‘wascially wabbit was spared by hunter Elmer Fudd in a 1942 cartoon when a telegram arrives informing Fudd of a $3 million inheritance on condition that he not harm any rabbits. Fudd lets Bugs ...


July 27, 2016, 1:03 pm, 1657731

Last week, the Tax Foundation released a paper titled, “Reexamining the Tax Exemption of Municipal Bond Interest,” which argued that lawmakers should consider reforming the current tax treatment of municipal bond interest. Apparently, the municipal bond industry is less than thrilled with our report: yesterday, The Bond Buyer ...


July 26, 2016, 1:03 pm, 1657298

Today is July 26, the date in 1788 when New York became the eleventh state. New York has some pretty high taxes (top individual income tax rate of 8.82 percent, average sales tax rate of 8.49 percent, and the highest state-local tax burden. However, as late as 1946 the state ...


July 26, 2016, 11:03 am, 1657243

If you enjoy our weekly tax maps, you’ll love our Monthly Map Club! Sign up below to receive a new map on state tax rates, collections, burdens and more in the mail every month.

Some of our most popular ...


July 25, 2016, 5:03 pm, 1656960

Chances are, if you were to pull out your latest pay stub, you would see two important lines among the list of taxes taken out of your wages: FICA and MEDFICA. If you were to do the math, these two lines, standing for Federal Insurance Contributions Act and Medicare ...


July 25, 2016, 3:03 pm, 1656918

Today is July 25, Puerto Rico Constitution Day. A territory of the United States, Puerto Rico has been in the news lately due to its debt crisis: the government owes $72 billion it doesn’t have, and onerous and unstable tax policy has helped cause a demographic ...