The Scouting Report: Fix the Tax System

The Presidential Transition, Taxes, Tax Reform, Alternative Minimum Tax, The Presidency

Event Summary

Improving the equity, simplicity and efficiency of the tax system will help to better prepare taxpayers, businesses and the economy for the challenges that lay ahead. The U.S. tax code is too complex, often supports misguided incentives, and raises inadequate revenue to support government spending. A new administration will face the challenge of addressing these shortcomings while also creating a system that is judged to be fair and supportive of economic growth.

The Scouting Report

Index of Live Chats

Event Information

When

Wednesday, December 03, 2008
12:30 PM to 1:30 PM

Where

Online Chat
The Brookings Institution

Event Materials

Contact: Brookings Office of Communications

E-mail: events@brookings.edu

Phone: 202.797.6105

On Wednesday, December 3, at 12:30 PM, Brookings Vice President and Director William Gale answered questions in a web chat with Politico's Jeanne Cummings, chief lobbying and influence writer, about strengthening and improving our nation’s tax code.

Every Wednesday at 12:30 EST between the election and the inauguration, Brookings experts and editors from Politico will host “The Scouting Report,” a live web chat discussing pressing issues facing our president-elect.

Transcript

12:30 Jeanne Cummings-Moderator:
Hi everyone and welcome to today's edition of the Scouting Report. I'm Jeanne Cummings, and I will be your moderator for today's chat. I'd like to welcome William Gale, Vice President and Director at the Brookings Institution.

12:31 Jeanne Cummings-Moderator:
Let's get things started with a question we received via e-mail. Do you think a second fiscal stimulus should be issued? If so, what form should it take?

12:31 William Gale:
The need for a fiscal stimulus is undeniable. Recent efforts can’t be pushed much farther: the Fed Funds rate has already sunk to 1 percent and can’t sink much lower. Investments in U.S. infrastructure should be a crucial part of the stimulus package. Other major components should be aid to states to help with Medicaid funding and general budget expenditures and further extension of unemployment benefits.

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Participants

Moderator

Jeanne Cummings

Chief Lobbying & Influence Writer, Politico

Expert

William G. Gale

Vice President and Director, Economic Studies

E-mail

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The Scouting Report: Fix the Tax System