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

August 28, 2015, 1:03 pm, 1535786

State and local governments depend on many different types of taxes, one of which is known as an excise tax. Like general sales taxes, excise taxes are paid on the purchase of an item. But unlike sales taxes, excise taxes are collected on specific types of transactions, not a ...

August 27, 2015, 3:03 pm, 1535210

2013 was a year of many changes to the U.S. tax code, and some of the most significant changes were targeted at raising taxes on high-income Americans. The fiscal cliff tax deal created a new 39.6 percent income tax bracket, raised the top rate on capital gains to 20 percent, ...

August 26, 2015, 3:03 pm, 1534566

This morning, Justin Trudeau, the leader of the Canadian Liberal Party, proposed a new tax credit for teachers, to help cover out-of-pocket classroom expenses. The proposed credit is largely similar to the educator expense deduction in the U.S. tax code, but differs in a few key regards.

For ...

August 25, 2015, 3:03 pm, 1533965

Today, the Congressional Budget Office released its semiannual Budget and Economic Outlook report, which forecasts the federal budget deficit over the next ten years, as well as several other economic indicators. An important part of this forecast is CBO’s projection of federal revenues, which determine whether the federal ...

August 25, 2015, 1:03 pm, 1533881

We got a message from a reader who noticed that our report on taxes on lottery winnings by state says that New Hampshire has no income tax. He said while that’s true, he remembered a 10 percent tax on lottery winnings and asked us to check it out.

He ...

August 21, 2015, 5:03 pm, 1532455

Every public policy benefits some people more than others – and energy policy is no exception. A new paper from Severin Borenstein and Lucas Davis, two professors at UC Berkeley, examines which taxpayers benefit most from tax credits for clean energy:

“Since 2006, U.S. households have received more ...

August 20, 2015, 1:03 pm, 1531673

“Praise be to the IRS, that most permissive of government agencies,” is a phrase that presumably had never been uttered by anyone – until last Sunday night, when television comedian John Oliver delivered a twenty minute monologue about the tax status of churches in the United States.

Sunday’s episode ...

August 19, 2015, 3:03 pm, 1531069

This week’s tax map comes from our recent report examining sales tax holidays across the nation. The study explains why, in spite of their political expediency, these “holidays” are poor tax policy, and the map illustrates which states that still have the holidays, what their dates are, and ...

August 13, 2015, 7:03 pm, 1528134

Social Security is Turning 80

August 14th marks the 80th anniversary of the signing of the Social Security Act by President Franklin Roosevelt in 1935. The program has done much to alleviate poverty among the elderly. Unfortunately, the system itself is showing its age. The Old Age and Survivors ...

August 13, 2015, 3:03 pm, 1527978

States tax real property in a variety of ways: some impose a rate or a millage—the amount of tax per thousand dollars of value—on the fair market value of the property, while others impose it on some percentage (the assessment ratio) of the market value, yielding an assessed value. 

Some ...