Economics Roundtable

May 2014 Payroll Employment

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

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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.


The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.

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Tax Foundation

July 18, 2014, 1:03 pm, 1303121

If you buy something in Philadelphia, you pay a 8 percent sales tax (6 percent state plus 2 percent city). But if that something is an amusement (sporting event, theatre performance, show, etc.), the state doesn't tax it although the city taxes it at 5 percent. Why such purchases ...

July 18, 2014, 1:03 pm, 1303122

The corporate inversion debate continues to heat up, revealing a serious conflict between the Obama administration and the business community. Corporate inversions are cross-border mergers that allow U.S. companies to reincorporate abroad where corporate taxes are much lower.

Earlier this week, Abbot Labs and Mylan Inc., both U.S.-based drug makers, ...

July 17, 2014, 5:03 pm, 1302620

On Tuesday, the Nebraska Department of Revenue released the state’s 2013 annual tax incentives report, which describes the various business tax incentives in the state as well as their effects and beneficiaries. The department reports that this year the state spent around $200 million on tax credits which ...

July 17, 2014, 1:03 pm, 1302469

Rhode Island is one of the worst-scoring in the State Business Tax Climate each year, but there have been small attempts in the last decade at moving the state toward a more competitive code. In 2010, the Rhode Island brought the top income tax rate down to 5.99 ...

July 17, 2014, 11:03 am, 1302394

One of the common themes in the debate over corporate inversions is that these transactions will erode the U.S. tax base and cost the Treasury billions of dollars in lost taxes.

What is interesting is that the latest IRS data for 2011 shows that the U.S. subsidiaries of foreign corporations ...

July 16, 2014, 5:03 pm, 1302035

In a recent letter to Congress’s tax writing committees, Treasury Secretary Jacob Lew wrote that Congress should act to prevent U.S. corporations from inverting (the practice of a U.S. company merging with a foreign company and moving its headquarters to the foreign country).

In doing so, Lew writes that ...

July 16, 2014, 5:03 pm, 1302036

The Tax Foundation has released a new report that looks at the effects that tax credits for higher education have had on the rising costs of college tuition. The report explains how the credits have expanded, how they disproportionately benefit higher income families, and how they have failed ...

July 16, 2014, 11:03 am, 1301788

This week’s map shows when each state adopted its gasoline excise tax. States began to adopt motor fuels taxes in 1919 (Oregon was first in February of 1919) and, by 1929, every state in the union at the time had one (Hawaii and Alaska implemented their taxes several years ...

July 16, 2014, 11:03 am, 1301787

On Monday Chris Christie announced that Holtec International will be building a 600,000 square foot manufacturing facility on the shores of Camden, New Jersey. Last week the project was spurred along by a $260 million tax credit. Holtec’s announcement marks the third largest tax credit ever issued ...

July 15, 2014, 5:03 pm, 1301398

Governor Nixon (D) this week vetoed a Missouri bill that would have prohibited the sale of electronic cigarettes to minors, ostensibly because he was upset that the bill didn’t include new taxes on the products. The bill, SB 841, would bar sales to individuals under 18, continue ...