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


September 19, 2014, 6:35 pm, 1338242

This week the rating agency Standard and Poor’s got a lot of attention for a study that concluded that rising income inequality is damaging state tax revenues.

Well, state tax revenue growth has slowed in recent decades and income inequality has grown. But the story is far more complicated than ...


September 19, 2014, 12:35 pm, 1338005

Policy makers and researchers have long been interested in how potential changes to the personal income tax system affect the size of the overall economy. Earlier this year, for example, Representative Dave Camp (R-MI) proposed a sweeping reform to the income tax system that would reduce rates, greatly pare back ...


September 19, 2014, 8:35 am, 1337844

Jack Lew on corporate inversions: “Action is going to be taken.” Treasury Secretary Jack Lew says that ”any company considering an inversion is now on notice that there is action that is going to be taken.” Administrative curbs would limit the economic benefits of inversions but only congressional ...


September 18, 2014, 8:35 am, 1337124

Congress is not quite “ready for some football.” With trouble in the Middle East, an Ebola outbreak in Africa, and mid-term elections, the National Football League’s tax-exempt status is not high on the Congressional to-do list. That’s not keeping some senators from trying to repeal it. Washington Democrat ...


September 17, 2014, 8:35 am, 1336386

No more tax havens abroad? The Organization for Economic Cooperation and Development released its plan to limit corporate tax avoidance. All 34 OECD members plus 10 other countries including China and Russia have approved the proposals, though each nation must still implement them. The


September 16, 2014, 4:35 pm, 1336022

Unable to do anything important before its election season recess, Congress is about to knock down a favorite digital straw man—It will extend for a few months the about-to-expire federal ban on state taxation of Internet access.

The federal moratorium, called the Internet Tax Freedom Act, is scheduled to expire on November ...


September 16, 2014, 8:35 am, 1335712

Income inequality may shrink state tax revenues. A new report from Standard & Poor’s tells the tale. Incomes have grown rapidly among the wealthy, but have barely kept pace with inflation for many others. But high income earners both shelter their income from taxes and save ...


September 15, 2014, 6:35 pm, 1335404

For all the talk of political gridlock, it is amazing how quickly a state legislature can act when $1 billion in unexpected corporate tax refunds are at stake. The lawmakers are in Michigan. And their pistons were fired up following an unfavorable state Supreme Court decision in a lawsuit brought by ...


September 15, 2014, 8:35 am, 1335007

Shutting down talk of a shutdown… The House is expected to vote on a continuing resolution to fund the government—including the IRS—through December 11. The resolution would include an extension of the Internet Tax Freedom Act, which bars states from taxing Internet access. Unless Congress acts, the law ...


September 12, 2014, 8:35 am, 1333821

Have it your way… unless you’re Burger King. Five Senate Democrats—Illinois’ Dick Durbin, Michigan’s Carl Levin, Rhode Island’s Jack Reed, Vermont’s Bernie Sanders and Ohio’s Sherrod Brown—asked Burger King to not move its legal headquarters to lower-tax Canada. They accused it of trying to avoid paying its fair ...