As a quick followup to my earlier post on the impact of the internet sales tax, I wanted to share with you the list of states that do not (currently) collect sales and use taxes. As of this writing, there are five such states, including: Alaska, Delaware, Montana, New Hampshire, [...]
Economic News & Views
Harry Truman once said “It’s a recession when your neighbor loses his job; it’s a depression when you lose your own.”
If you’re wondering what’s happening with either the U.S. or world economy then you’ve come to the right place.
Topics of interest include economic growth and productivity, fiscal policy, the Federal Reserve, inflation, deflation, labor statistics (employment and unemployment), the national debt, and more.
I mentioned the internet sales tax debate in passing about six weeks ago. At the time, the Senate was talking about giving states more power to collect sales taxes. Ultimately, they wound up voting on a non-binding measure in support of doing just that. And it passed easily, with bi-partisan [...]
It’s no secret that I’m a big fan of Series I Savings Bonds. Each year, my wife and I each max out our annual I-Bond limits. Not only that, but we jump through hoops to get even more with our tax refund. It should thus come as no surprise that [...]
Ever wonder who works for minimum wage? Well, wonder no more… The Bureau of Labor Statistics has released data summarizing the characteristics of minimum wage workers. This is particularly timely given the current debate over raising the minimum wage. In 2012, there were 75.3 million workers aged 16 or above [...]
In honor of Sequestration Day I thought I’d highlight the results of a recent study from the Institute of Taxation and Economic Policy. As I’m sure you’re aware, there’s pressure in a number of states to reduce or abolish personal income taxes. In general, the argument in favor of doing [...]
While reading the latest unemployment report from the Bureau of Labor Statistics (BLS), I was struck by the apparent relationship between education and unemployment rates. At tail end of 2012, the overall unemployment rate stood at 7.8%, but it actually varied quite widely across educational levels. What follows are the [...]