The "Buffett Rule's" stated goal of making millionaires pay the same tax rates as the middle class is appealing. Unfortunately, the proposal is based on inaccurate claims about the tax system and its enactment would penalize the investment that fuels long-run economic growth.

During two closed sessions before the luncheon, committee members discussed the latest in financial regulation issues. At a luncheon briefing following these sessions, SFRC members gave several statements and answered questions.

Summary and analysis of trends in tax policy, immigration policy, the bureaucracy, and the Supreme Court.

Critics have renewed their calls to tax the carried interest as ordinary income. Unfortunately, the populist rhetoric used by some critics can obscure the facts about how carried interest is actually taxed.

Ominously labeled "Taxmageddon," a host of tax policy changes are set to occur at year-end, and there truly is much at stake: $3.67 trillion of additional tax revenue over 10 years from the Bush tax cuts alone.

Despite China's emergence as an economic power and all the talk about how America has become a service economy, U.S. manufacturing is alive and well.

Despite China's emergence as an economic power and all the talk about how America has become a service economy, U.S. manufacturing is alive and well. But there is a fly in the ointment -- the U.S. has become dangerously dependent on imports of raw materials needed to keep the economy moving.

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.