CPA ISSUES FORUM MEMO:

India and China: An Advanced Technology Race and How the United States Should Respond 

                                                                                           prepared by Carolyn Avery, IASG Ltd., June 2, 2008

Speaker:

                   Earnest Preeg, Manufacturers Alliance/MAPI

The United States faces great challenges as technologically driven globalization with China and India is changing the global economic order. Yet we cannot devise an effective response unless we first understand the context, nature and likely evolution of these challenges.

You are all invited to the eighth Coalition for a Prosperous America (CPA) Issues Forum.
 
TOPIC:            Globalization and the Growing Divergence Between
                        Corporate and National Interests
 
SPEAKER:      Ralph Gomory, Research Professor, NYU Stern School of
                        Business
                  

 

You are all invited to the seventh Coalition for a Prosperous America (CPA) Issues Forum.

TOPIC:            India and China: An Advanced Technology Race and How the United States                                                                                 Should Respond

SPEAKER:      Ernest Preeg, Manufacturers Alliance/MAPI

TIME:              10:30 until 12:00, Monday June 2

PLACE:           Offices of Wiley Rein LLP

                        1776 K Street, NW

                        Fourth floor conference room

COST:             $10 for CPA members

                        $20 for non-members

                        No charge for government employees

DETAILS:        China and India are developing export-oriented “advanced technology superstates” that will challenge U.S. technological preeminence.  In his new book India and China: An Advanced Technology Race and How the United States Should Respond, Ernest Preeg analyzes trade and export competitiveness in advanced technology industries, geopolitics and geostrategy, the New Asia-Pacific Triangle, and the interaction between international financial, trade, and investment policy with domestic economic policy agendas.  In his remarks, Mr. Preeg will explore the trade, tax, education, and R&D policy changes the U.S. needs to make to keep its competitive edge.  Mr. Preeg is senior fellow in trade and productivity at MAPI and a visiting fellow at the Center for Strategic and International studies.  He has served as Deputy Assistant Secretary of State for International Finance and Development, Chief Economist for the U.S. Agency for International Development, and White House Executive Director of the Economic Policy Group.  He is the author of Traders in a Brave New World: The Uruguay Round and the Future of the International Trading System; From Here to Free Trade in Manufactures: Why and How; and The Emerging Chinese Advanced Technology Superstate.

Please save June 17 for an Issues Forum on Globalization and the Growing Divergence Between Corporate and National Interests with Ralph Gomory, President Emeritus of The Sloan Foundation.

Space is limited.  For reservations, please respond to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

The CPA is a unique grass-roots coalition of agricultural, labor, and manufacturing interests.  The Issues Forum is non-profit, non-partisan, and open to all, members and non-members alike.  The Forum seeks to facilitate informed discussion of a wide range of public policy issues that impact American competitiveness.  For more information on the CPA, visit www.prosperousamerica.org.

Please let me know if you have any questions or need more information.

Many thanks,

Charlie

Charles H. Blum

Executive Director

CPA Issues Forum

666 11th Street, NW

Suite 810

Washington, DC 20001

CPA ISSUES FORUM  MEMO:

A Competitive Tax Plan for America

                                                                                    prepared by Carolyn Avery, May 9, 2008

Speaker: author Michael Graetz, Yale Law School

* Introduction: the imminent tax train wreck

The IRS Code is now six times larger than War and Peace and not nearly as easy to read.  Our tax system is broken, complex, and costly.  We are not taking advantage of our status as a low-tax country because we are not a low-income-tax country. 

There is a train wreck around the corner, coming down the tracks in the form of:
1) The 2010 expiration of the Bush tax cuts that were enacted in 2001 and 2003.
2) The AMT, which is set to affect 40 million people in 2010.

Our current system’s instability is best exemplified by the estate tax, which this year has an exemption of $2 million that, next year, will increase to $3.5 million per person, with a top rate of 45%.  Then, in 2010, the tax will be repealed altogether, only to come back the following year in its pre-2001 form, with a $1 million exemption and 55% rate. 

As it is not possible to let such instability persist, Congress will have to make some fundamental changes to the tax system fairly quickly.