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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EconModel

The Economics Roundtable is sponsored by EconModel.

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


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TaxVox

Tax Policy Center:  Urban Institute and Brookings Institution


July 29, 2014, 4:36 pm, 1307458

President Obama and many congressional Democrats argue that U.S.-based multinational firms are being unpatriotic by moving their corporate addresses overseas in order to reduce their taxes. Obama even implied they are “corporate deserters.” These are powerful, emotionally-charged allegations. But are they fair?

Is it unpatriotic to maximize tax savings? After ...


July 29, 2014, 8:36 am, 1307137

How do you catch a tax and pin it down? Can governments make corporations “stay and listen to all they say?” Treasury Secretary Jack Lew in his Washington Post op-ed called on Congress to immediately stop corporations from lowering taxes by incorporating overseas. Former Treasury official ...


July 28, 2014, 12:35 pm, 1306559

The Child and Dependent Care Tax Credit (CDCTC) does not work for low-income families. It fails on three counts – the credit is nonrefundable, covers only a portion of expenses, and comes long after expenses have been incurred.

Senators Jeanne Shaheen (D-NH), Barbara Boxer (D-CA), Patty Murray (D-WA), and Kristin ...


July 28, 2014, 8:35 am, 1306400

The Highway Trust Fund is almost out of gas. Congress leaves for its month-long recess on Friday, but without legislative action the fund will run out in August. The Senate is expected to vote on the amended bill this week, though it needs 60 votes to pass. Senate Majority Leader ...


July 25, 2014, 8:36 am, 1305378

Corporate inversions: Not exactly a home-run campaign issue. But some Democrats are swinging for the fences anyway, including President Obama: “You shouldn’t get to call yourself an American company only when you want a handout from American taxpayers.” He reiterated a call for “economic patriotism” among corporations and ...


July 24, 2014, 10:35 pm, 1305139

The Bring Jobs Home Act is a classic message bill. Its Democratic sponsors have no interest in making it law, they merely see it as a way to boost the party’s Senate candidates in part by forcing Republicans to vote against something that sounds like a good idea. After ...


July 24, 2014, 8:36 pm, 1305076

The Bring Jobs Home Act is a classic message bill. Its Democratic sponsors have no interest in making it law, they merely see it as a way to boost the party’s Senate candidates in part by forcing Republicans to vote against something that sounds like a good idea. After ...


July 24, 2014, 2:35 pm, 1304842

A highway bill could soon head down Pennsylvania Avenue. The House Rules Committee  plans to send to the floor the Ways & Means panel’s short-term highway funding bill today. After a floor vote sometime this week, it’s seen as the likely version to land ...


July 24, 2014, 2:35 pm, 1304840

Kansas Governor Sam Brownback and his state legislature have embarked on a wonderful natural experiment. Once again we are testing the question: Can tax cuts pay for themselves? The answer– yet again– is a resounding no.

We’ve tried this experiment time and again. And tax cut proponents such as economist Art Laffer ...


July 24, 2014, 2:35 pm, 1304841

Expect the House to approve some permanent changes in the charitable deduction this week. They include contributions of food inventory, real property for conservation purposes, and  IRA distributions for charitable purposes. The measure would also allow individuals’ charitable contributions made between the end of ...