Alan D. Viard, a resident scholar at AEI, reviews the budget outlook, the need for tax reform and the benefits of moving to a progressive consumption tax. He also discusses his forthcoming book, Progressive Consumption Taxation: The X Tax Revisited, which he coauthored with Robert Carroll of Ernst & Young. The book will be published by AEI Press in the Spring.

The following is a summary highlighting testimony by AEI Director of Economic Policy Studies Kevin Hassett to the Joint Economic Committee at a hearing entitled "How the Taxation of Capital Affects Growth and Employment."

Chinese banks have become the world's largest ATMs for China's political and business elite.

All Sarbanes-Oxley's efforts to control risk did not avoid the tremendous financial bubble and bust of the last several years.

Rapid growth in the P2P industry has given rise to concerns over appropriate regulation of this alternative form of lending.

The death tax is badpolicy becauseithasadverse impacts on saving and investment.

Kaspar Hauser reported that he had spent his life living in a small dark cell, and almost never came in contact with his caretaker.

We should not fear, or object to, the competition of foreign markets; in fact, we should welcome it. But we shouldn't impair our own ability to compete with needless and costly regulation.