This book by Alan Viard and Robert Carroll proposes to completely replace the income tax system with a progressive consumption tax.

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.

An article in the International Business Times shows that China continues to hit the brakes on the exports of rare earths.

By delaying retail foreign direct investment, the Indian government has protected the intermediary status quo, and ignored the plight of 500 million desperately poor Indians living on farms who have publicly voiced their support of allowing retail giants to enter the Indian market.

President Obama’s budget speech on Monday expanded on the theme of economic “fairness,” like his State of the Union speech in January. He lectured Americans that if critical steps are not taken, the rise of the middle class will be threatened and disparities between the rich and the rest will...

The one thing on which our political leaders seem to agree is the need for corporate tax reform. But amid all of the promising rhetoric there is significant cause for concern. Many proposals, particularly those of Messrs. Obama and Santorum, seem to have unlearned many of the lessons of modern economics.

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 telecom-equipment maker Huawei has become a global corporate giant, yet security concerns from US officials have kept it from gaining a foothold in America, intensifying US-China tensions. In a time of great economic need, US desire for foreign direct investment from China is clashing with fears over cyber attacks from organizations suspected to be under Beijing’s influence.