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Friday, September 23
The Brookings Institution
Washington, DC

Sponsored by
The Tax Policy Center, the American Tax Policy Institute,
and Tax Analysts


The Urban-Brookings Tax Policy Center, the American Tax Policy Institute, and Tax Analysts would like to invite you to a conference on Taxing Capital Income at the Brookings Institution, 1775 Massachusetts Ave., N/W., Washington, DC 20036, on September 23, 2005 from 9 am - 5:15 pm. The conference would bring together leading economists, lawyers and accountants from across the political spectrum to discuss issues surrounding the choice of tax base. The approach is interdisciplinary and will benefit from the views of practitioners as well as academics and researchers.

The conference will have four main sessions.

Session 1: "Do We Tax Capital Income" will examine which forms of capital income are now taxed and at what effective rates.

Session 2: "Should We Tax Capital Income" will present competing perspectives on whether capital income should be taxed at the same rate as labor income, a different rate or a zero rate. This session will focus on the benefits of a consumption tax cited in the theoretical literature and the political problems that may determine whether such a tax can achieve these benefits in practice.

Session 3: "Can We / Can we not tax capital income" will focus on whether the practical problems of taxing various forms of capital income are solvable, and also the problems in not taxing capital income if we switched to a consumption tax base.

Session 4 will be a wrap-up session.

Douglas Holtz-Eakin, Director of the Congressional Budget Office, will be the luncheon speaker.

RSVP by August 1, 2005, to Kathleen Yinug at Brookings by phone at 202-797-6121 or by e-mail to kyinug@brookings.edu. Please note that seating is limited and will be offered on a first-come, first-served basis.



9 - 10 a.m.I. Do We?

Presenter:
Joel Slemrod, University of Michigan

Commentators:
Reed Shuldiner, University of Pennsylvania
Jane Gravelle, Congressional Research Service
10 - 10:15 a.m.Break
10:15 a.m. - NoonII. Should We?

Presenters:
George Zodrow, Rice University
Len Burman and Kim Rueben, The Urban Institute
and the Tax Policy Center

Commentators:
Alan Auerbach, University of California
David Weisbach, University of Chicago
Joe Thorndike, Tax Analysts
12:15 - 1:30 p.m.III. Lunch

Douglas Holtz-Eakin, Director,
Congressional Budget Office
1:45 - 3:30 p.m.IV. Can We?

Presenters:
Edward D. Kleinbard, Cleary Gottlieb Steen & Hamilton
Julie Roin, University of Chicago

Commentators:
Michael Keen, International Monetary Fund
Paul Oosterhuis,
Skadden, Arps, Slate, Meagher & Flom LLP
Rick Davino, General Electric
3:30 - 3:45 p.m.Break
3:45 - 4:45 p.m.V. Can We? Can We Not?

Presenter:
Michael Schler, Cravath, Swaine & Moore LLP
and Joseph Bankman, Stanford University

Commentators:
Ed Outslay, Michigan State University
George Plesko, Massachusetts Institute of Technology
4:45 - 5:15 p.m.VI. Conclusion

Panel:
Henry Aaron, Brookings Institution
and the Tax Policy Center
Dan Halperin, Harvard University