WASHINGTON- While speaking to the National Association for Manufacturers on Tuesday, Speaker Paul Ryan advocated for conservative tax reform. Specifically, Ryan said that corporate taxes need to be lowered, and that estate taxes needs to be abolished.
These policy goals are nothing new for Ryan, who has spent the better part of the last decade attacking former President Obama for failing to balance the budget. Ryan is often praised for his commitment to a balanced budget and his expertise in fiscal policy. That expertise is an illusion.
Ryan’s comments do not show expertise. The Speaker intends to balance the budget by shifting the burden away from the wealthy and onto the middle and lower classes.
You can call it pro-business or pro-growth, but at the end of the day it is anti-worker and anti-American.
Danielle Kaeding at Wisconsin Public Radio reports:
House Speaker Paul Ryan says lowering the corporate tax rate and eliminating the estate tax should be part of the Trump administration’s plans to reform the nation’s tax code.
Ryan, R-Janesville, made the remarks Tuesday at a summit of the National Association of Manufacturers in Washington D.C. He said tax reform means “slashing” the corporate tax rate so it’s as low as possible, especially for small businesses.
“Overseas, which where I come from means Lake Superior,” joked Ryan, “companies in Canada, they pay just 15 percent. Heck, the average tax rate on businesses in the industrialized world is 22.5 percent. Yet, our corporations pay 35 percent and our successful small businesses pay 44.6 percent.”
Ryan said United States companies can’t compete on a global scale. Without reforms, Ryan said businesses will continue to move jobs overseas.
Read more at Wisconsin Public Radio.