Econ70
Recent tax reform has, among other things, reduced the tax advantages of charitable giving. Thus, such giving is expected to decline by about 4% from $390 billion/year to about $375 billion/year. The top 1% of taxpayers will be generally less…
While interest rates have been profoundly low until quite recently, the winds of change are coming. The Fed is beginning to meaningfully reduce its balance sheet, and large federal deficits are starting to appear, both of which will increase the…
March housing starts were up 1.9% M-o-M, and 10.9% Y-o-Y, but single-family starts fell 3.7% M-o-M and rose just 5.2% Y-o-Y. The recent rise in starts is all due to multifamily activity! Since 10/16, single-family starts have risen marginally. However,…
The IMF estimates advanced economies will grow 2.5% in 2018 and 2.2% in 2019, up half a point each from their 10/17 report. US growth was boosted from 2.3% to 2.9% this year and 1.9% to 2.7% for 2019 due…
The Friday File: The NBA introduced the 3-point shot in 1979/80. That year, 3-point shots were 3.1% of all shots. By 1990, it was 7.6%, it was 16.7% in 2000, and 22.2% in 2010. Then Stephen Curry changed everything. This…
Ignoring the 19% of Mexicans with no preference between the three presidential candidates facing off on 7/1/18, leftist populist Andres Manuel Lopez Obrador (AMLO) of MORENO, leads comfortably with 48% of the vote, Ricardo Anaya of PAN follows at 26%,…
Usually the gap between GDP and potential GDP (what GDP would be if all economic resources were fully utilized) is very small. However, during 09Q2, the gap hit $935 billion; 6.5% of GDP. That was the largest gap since 82Q4…
Non-inflation-adjusted farm income is projected to hit just $59.50 billion in 2018 due to lower crop and livestock prices. This will be its lowest level since 2006, when farm income was $57.44 billion, and is 7% lower than it was…
In 2017, the IRS audited 1 of every 160 individual tax returns, the lowest percentage since 2002, and the sixth straight year of declines. Overall audit probabilities peaked in 2010 at 1 in 90. For millionaires, the audit probabilities are…
The Friday File: There are 281,000 people employed in the production and distribution of movies and sound recordings in the USA. CA leads with 106,500. NY follows with 26,500, then TX with 16,500, and FL with 11,000. They are the…