Economics Roundtable

January 2014 Payroll Employment

We are getting closer to the previous peak.

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 .


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.


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TaxVox

Tax Policy Center:  Urban Institute and Brookings Institution


April 17, 2014, 4:36 pm, 1257224

Egged on by business lobbyists, congressional tax writers seem increasingly interested in allowing firms to rapidly write off the cost of their capital investments. Especially in the House, lawmakers would allow small businesses to expense the full cost of their investments in the year they are acquired, and let larger ...


April 14, 2014, 4:35 pm, 1255409

It isn’t news that congressional Democrats and Republicans have agreed to spend the time between now and the November elections messaging, rather than legislating. When it comes to domestic policy it has only two real issues on its must-do list: Deciding the fate of 50+ tax breaks that expired last ...


April 14, 2014, 2:36 pm, 1255326

Wyden’s extenders bill is set for a vote tomorrow. Senate Finance Committee Chair Ron Wyden  and senior Republican  Orrin Hatch introduced the EXPIRE Act (“Expiring Provisions Improvement Reform and Efficiency Act”) yesterday. The committee will consider it on Thursday. The measure ...


April 14, 2014, 2:36 pm, 1255327

The House Republican budget, released today by Budget Committee Chair Paul Ryan (R-WI), kicks the tax reform can down the road yet again. Not only does it fail to enhance chances for a tax code rewrite, it almost certainly sets the effort back.

This budget isn’t so much an actual fiscal ...


April 14, 2014, 2:36 pm, 1255325

EXPIRE Act mark-up today, more on extenders next week.The Senate Finance Committee will begin its mark-up of chair Ron Wyden’s  plan for restoring  dozens of tax breaks that expired last December. He proposed killing only a handful and


April 14, 2014, 2:36 pm, 1255324

What to do about the tax extenders—or, as my colleague Donald Marron calls them, the “tax expirers”? Restoring the current crop (most of which expired on December 31) for 10 years would add about $900 billion to the deficit. House Ways & Means Committee Chair Dave Camp (R-MI) and ...


April 14, 2014, 2:36 pm, 1255323

One last reminder: You can tune in to a live webcast this morning at 9:00 am for “Major Surgery Needed:  A call for structural reform of the US corporate income tax.” The event is cosponsored by the American Enterprise Institute and the ...


April 14, 2014, 2:36 pm, 1255312

“Simple” is in the eye of the beholder: Maybe “fairness” has universal appeal. A new poll shows most people think filing tax returns is “easy” and TPC’s Howard Gleckman wonders if anybody really cares about a simple revenue code in his latest post. Few of us ...


April 14, 2014, 2:36 pm, 1255310

It isn’t news that congressional Democrats and Republicans have agreed to spend the time between now and the November elections messaging, rather than legislating. When it comes to domestic policy it has only two real issues on its must-do list: Deciding the fate of 50+ tax breaks that expired last ...


April 14, 2014, 2:36 pm, 1255311

Congress is in recess and returns in two weeks. The Daily Deduction will be back next Monday and resume its regular schedule on Monday, April 28. Until then: Don’t miss tomorrow’s TPC event on inequality; outside the Beltway, states and cities’ pension and education funding problems persist.

Tomorrow: TPC Tax Day ...