Economics Roundtable

Technical Problems 3/9/15

The website was down several hours today, but is back up now.


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.


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


May 4, 2015, 6:35 pm, 1467402

States can generate powerful economic growth by cutting income tax rates.

That, at least, is the theory behind a recent wave of tax cuts, or proposed tax cuts, around the country. Kansas has cut taxes repeatedly in recent years. So has Wisconsin. In Maine, Governor Paul LePage vows to repeal his ...


May 4, 2015, 4:35 pm, 1467329

States can generate powerful economic growth by cutting income tax rates.

That, at least, is the theory behind a recent wave of tax cuts, or proposed tax cuts, around the country. Kansas has cut taxes repeatedly in recent years. So has Wisconsin. In Maine, Governor Paul LePage vows to repeal his ...


May 4, 2015, 10:35 am, 1467076

Will cuts to a state’s top income tax rate boost growth? Not necessarily. In a new TPC paper, Bill Gale, Aaron Krupkin, and Kim Rueben find little evidence linking state-level economic growth and taxes, especially income tax policy. Neither tax revenues nor top income tax rates have a steady ...


May 4, 2015, 8:35 am, 1467004

Will cuts to a state’s top income tax rate boost growth? Not necessarily. In a new TPC paper, Bill Gale, Aaron Krupkin, and Kim Rueben find little evidence linking state-level economic growth and taxes, especially income tax policy. Neither tax revenues nor top income tax rates have a steady ...


May 1, 2015, 6:35 pm, 1465895

Plans to raise state gas taxes move down the road in Minnesota and South Carolina. The Minnesota Senate passed a 16-cent-per-gallon gas tax hike that would be triggered when pump prices fall to $2.50 per gallon. Minnesota’s levy is currently 28.5 cents per gallon. In South Carolina, the ...


May 1, 2015, 6:35 pm, 1465893

The GOP calls for Affordable Care Act repeal in its budget resolution. The 10-year plan would cut planned spending by more than $5 trillion, retain the $1.017 trillion sequestration budget ceiling for 2016, and increase off-budget military spending. It would also use budget reconciliation to try to repeal the ...


May 1, 2015, 6:35 pm, 1465894

It turns out that the first year of tax filing for people who have Affordable Care Act health insurance subsidies was a lot easier than the first year of enrolling in the online exchanges.

In contrast to the ACA’s maiden open enrollment season, the initial process of settling up incorrect subsidies ...


May 1, 2015, 6:35 pm, 1465892

Alabama’s Senate Budget Committee taps the brakes on a state flat tax plan. The panel delayed a vote on a bill that would cut the state’s personal income tax rate to 2.75 percent from 5 percent, and lower the corporate income tax rate to 4.59 percent from 6.5 ...


May 1, 2015, 8:35 am, 1465483

Alabama’s Senate Budget Committee taps the brakes on a state flat tax plan. The panel delayed a vote on a bill that would cut the state’s personal income tax rate to 2.75 percent from 5 percent, and lower the corporate income tax rate to 4.59 percent from 6.5 ...


April 30, 2015, 8:35 am, 1464696

The GOP calls for Affordable Care Act repeal in its budget resolution. The 10-year plan would cut planned spending by more than $5 trillion, retain the $1.017 trillion sequestration budget ceiling for 2016, and increase off-budget military spending. It would also use budget reconciliation to try to repeal the ...