Posts filed under “Taxes and Policy”

States and Cities Impact On GDP

We get the first revision of GDP tomorrow morning at 8:30am. The export portion of GDP showed big improvement, thanks to the still
free-falling dollar. Unless the data in everything else fell apart,
that should bump GDP up to 1.0 – 1.25% (ex-inflation).

While that is brewing, it might be interesting to look at how States & Cities expenditures are doing. The State and Local Government consumption, expenditures and investment account for ~12.5% of GDP.

Consider the Personal Income tax, Corporate tax, Sales tax, and total Tax Revenue for a State:

1) State Income generally peaked in 2005, and has been decelerating since;
2) Only State Corporate tax receipts has turned negative on a YoY basis;
3) During the Recession of 2001, negative year over year revenue lasted as little as 1 quarter (sales tax) to 8 quarters (personal income tax);

If this cycle is even remotely similar to the mild recession of 2001, we are still in the first or second innings.

The chart below provides some insight:
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click for ginormous chart
Statetaxes

chart by Jake
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Category: Data Analysis, Economy, Taxes and Policy, Wages & Income

State Gas Taxes

Category: Energy, Taxes and Policy

Quote of the Day: US Energy Policy

Category: Energy, Taxes and Policy

Untapped Resources?

Category: Energy, Taxes and Policy

Another good Friday on CNBC — excellent guests, discussing real issues, and in great detail.

Like the interview two weeks ago with David Einhorn and William Ackman, this shows how good finacial television can be when a smart guest discusses weighty topics with sufficient time to go into details beyond bumper sticker.

I don’t know much about David Walker, but I was very impressed with him. Here’s info on the Peterson Foundation.

I don’t think the videos have as much Walker as they did on TV . . . 

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Private Equity With Pete Peterson
click for video
Peter_peterson_david_walker

Discussing the state of private equity, with Pete Peterson, The
Blackstone Group chairman/co-founder and David Walker former U.S.
Comptroller 

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Wall Street Star
click for video
Patterson

Perspectives on the economy, with Pete Peterson, The Blackstone
Group chairman/co-founder and David Walker former U.S. Comptroller

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Previously:
Video: David Einhorn, Greenlight Capital, William Ackman, Pershing Square Capital
http://bigpicture.typepad.com/comments/2008/05/video-david-ein.html

Category: Economy, Energy, Taxes and Policy, Video

Currency for the Blind

Category: Currency, Economy, Taxes and Policy

Researchers Wanted

Category: Taxes and Policy

Researchers Wanted

Category: Taxes and Policy

What Are You Doing with Your Stimulus Check?

Category: Consumer Spending, Economy, Taxes and Policy

Withholding Tax Update: 23-Month Low

We have previously reviewed the Uncle Sam’s withholding tax data as a read into the overall health of the economy. The most recent data point (March 13) shows W/H tax reaching a 23 month low. But we don’t like to rely on any single data point, especially one from a volatile series.  Instead, look at…Read More

Category: Economy, Taxes and Policy, Wages & Income