In this article, published in Tax Notes Federal on Sept 21, 2020, CPA Chief Economist Jeff Ferry and CPA Board Member Bill Parks analyze the federal corporate tax paid by the S&P 500 companies in 2019 and find they paid on average less than 9% in cash federal tax last year. The authors compare it…
On Oct. 6th, CPA testified at a hearing of the US International Trade Commission on trade agreements. We focused on the failure of economic models to accurately forecast the impact of trade agreements on the US economy. We demonstrated how modifications of the standard economic model for trade can make the model more accurate. We…
This Working Paper examines the impact of the proposed Market Access Charge (MAC) on international capital inflows into the US economy and the domestic US economy. We build a model including the relationships between US capital flows, the dollar exchange rate, US trade, and the US domestic economy. Our conclusion is that a 5% MAC…
The US economy gained 661,000 jobs in September, far below the 1.4 million jobs added in August as coronavirus restrictions continue to lift, but it was enough to take another bite out of the unemployment rate. September unemployment declined to 7.9% from 8.4% in August, the Bureau of Labor Statistics (BLS) reported today. The Private…
By Kenneth Rapoza, Industry Analyst, CPA President Trump and many members of Congress are talking about reshoring pharmaceutical production. We look at the benefits of reshoring in health security, national security, and the economy. We also look at challenges to this objective, including the shortcomings in current Buy American and related legislation, the vague definitions…
By Ken Rapoza, CPA Industry Analyst The pandemic has curtailed exports and imports and today’s trade numbers showed a slight decline in the trade deficit. The June deficit came in at $50.7 billion, 7.5 percent better than the $54.8 billion deficit in May, based on the Bureau of Economic Analysis data. From January to June,…
By Jeff Ferry, Chief Economist The monthly US trade deficit climbed to $54.6 billion in May as the COVID crisis dented exports more than imports. It’s the worst monthly trade deficit figure since December 2018. May exports of $144.5 billion were down 4.4 percent on the April figure, while imports of $199.1 billion were only…
Washington. The US added 4.8 million non-farm jobs in June as the economy bounced back from the depths of the COVID crisis. Combined with the 2.7 million jobs added in May, the economy has now added back 7.5 million jobs in two months. However, total June employment of 142.2 million is still 14.7 million jobs…
Editor’s Note: On Sunday June 28, CPA’s economics team presented “The Job Quality Index – A New Measure of Job Quality in the U.S. Labor Market” at the Western Economic Association International 95th Annual Conference. The Job Quality Index, developed by CPA in partnership with economists from Cornell University and the University of Missouri at Kansas City,…
Editors note: Michele Nash-Hoff explains why we need an industrial strategy focusing on getting manufacturing back. So the 40 million unemployed have a chance it getting better jobs than the ones they left. Continuing my series on why manufacturing is important to America, the second reason is that wages and benefits for manufacturing jobs are approximately…
