The Americans for Democratic Action Education Fund hosted a summit meeting of progressive tax reform experts and advocates in partnership with the Congressional Progressive Caucus.
John Nichols of The Nation magazine led a panel discussion the U.S. tax code with representatives from a number of self-described progressive think tanks.
Participants discussed a number of possible changes to the tax code, including President Obama's proposal, known as the Buffett Rule. The rule, named for billionaire investor Warren Buffett, would require those who earn more than $1 million a year to pay at least 30% of their income in taxes. Buffett once said he paid a lower tax rate than his secretary.
President Obama delivered a speech Tuesday in Florida calling on Congress to pass legislation which includes the Buffett Rule. It faces a procedural vote next week in the Senate on April 16, the day before the income tax deadline.
Additional topics of discussion included the lower tax rate on investment income vs. earned income, the characterization of high-end salaries as investment income, offshore tax avoidance schemes, corporate tax loopholes and the income cap on Social Security contributions.