I enjoyed my guest hosting duties on the radio today and wanted to follow-up on a question from a caller. The caller wanted to know how many people were currently working and paying into Social Security and if the number were lower than in the past and, as a result, causing some of the financial woes for the program. Actually the number of workers paying in right now is the highest it has been, but what I told the caller to pay attention to was the number or workers per retiree, or beneficiary. The OASDI trustees report (available here) gives all this information, but I boiled it down to a simple graph.
Several former students asked questions about forecasting performance and I assume it has to do with my recent post about the performance of the forecast of North Dakota sales tax. As they well know and a quick investigation would make clear, there is no shortage of discussion of these issues. The student know this, it is one of the things I tell them is constantly updated in the field.
Sales tax is by far the largest consistent component in revenue generation for the state of North Dakota, but it is by no means the only one. With that in mind I am generating similar information for other revenue streams. Today it will be corporate income taxes. This one is a bit tricky to look at because there are instances of missing values. These are not missing in the sense that somebody is hiding something; these are missing values in the sense that the report provides nothing for the forecast value for corporate income tax in July, August, and September in that particular publication by the state OMB.
Tomorrow, 4 August 2016, I will be guest host on the Jarrod Thomas Show, 1310 KNOX AM Grand Forks. Topics are up in the air. Let me know what you want to talk to me about or what you want to hear me talk about!
Recognition is always nice and while I did not start my blog for fame and fortune it remains nice to be recognized. The website Intelligent Economist listed me as one of the top 100 economics blogs of 2016. This is really, really nice. It is not often your name gets in the same list as Nobel Laureates, soon-to-be Nobel Laureates, and many of the top people in your field. So thanks very much for this listing! There are many great blogs out there and the link below will take you to the Intelligent Economist post which has links to all the blogs they listed.