CAP tax expert to join press call, hosted by Americans for Tax Fairness, to debunk false tax claims ahead of Trump’s North Dakota speech and Paul Ryan’s “TimesTalk”
Washington, D.C. — Today at 3:30 p.m. ET, CAP senior fellow and former Obama White House tax advisor Seth Hanlon will join a press call with experts from Americans for Tax Fairness and the Center on Budget and Policy Priorities to debunk Rep. Paul Ryan’s (R-WI) and President Donald Trump’s false claims about taxes. Trump will deliver a speech on taxes at approximately 4 p.m. EST/3 p.m. CDT in North Dakota, while Ryan is set to give a TimesTalk about taxes at an event sponsored by The New York Times at the Newseum on Thursday morning.
Today, Trump has already tweeted a major falsehood about the U.S. tax system, calling the United States the “highest taxed nation in the world.” The United States actually has relatively low taxes. And when it comes to corporate taxes, as Hanlon wrote in a CAP fact sheet published last week, most U.S. multinationals actually pay well below the U.S. statutory rate when deductions, credits, and other special features of the tax code are considered. For example, the U.S. Government Accountability Office found that for tax years 2008 to 2012, profitable large U.S. corporations paid an average effective tax rate of 22 percent—a rate that included foreign and state and local income taxes. Additionally, after-tax corporate profits as a share of gross domestic product (GDP) are higher than they have ever been, and since 2000, they have risen dramatically.
- Chuck Marr, director of federal tax policy, Center on Budget and Policy Priorities
- Seth Hanlon, senior fellow, Center for American Progress
- Frank Clemente, executive director, Americans for Tax Fairness
Today at 3:30 p.m. EST
For dial-in instructions, RSVP to CHernandez@AmericansForTaxFairness.org
Topics to be covered include: