EconomyInCrisis.org Invites You To Attend: Smart Tax Reform and International Trade Competitiveness

WASHINGTON, June 10, 2013 /PRNewswire/ --

Monday, June 17, 2013
8:00-10:30 AM
National Press Club,
First Amendment Lounge
529 14th street , Washington D.C.

8:00 am    Breakfast

8:30 am    Program with panelists Professor Michael Graetz and Michael Stumo

Professor Graetz, Columbia University School of Law:  "How U.S. Consumption Taxes can Increase Growth and help Balance Trade."  Michael J. Graetz is a leading expert on national and international tax law.

Congress is engaging in a once-in-a-generation endeavor towards comprehensive tax reform.  But the debate over high versus low taxes, or the level of marginal income tax rates is unlikely to make a significant impact on American competitiveness.  Michael Graetz will present a specific proposal on how Congress could finance large income tax cuts with a consumption tax.  The Graetz proposal will simultaneously improve U.S. trade competitiveness, stimulate savings and investment, simplify taxpayer compliance, reduce administrative costs and broaden the tax base.

Panelist:  Michael Stumo, Chief Executive Office of the Coalition for a Prosperous America:
"How Foreign Consumption Taxes (VAT) increase the U.S. Trade Deficit?"  Michael Stumo is the Chief Executive Officer of the Coalition for a Prosperous America (CPA).

The U.S. has the worst trade deficit in the world, depressing GDP and hampering our economic recovery. Most nations have replaced a portion of their tariffs and income taxes with consumption taxes. These consumption (or value added) taxes act as a massive 17% tariff on U.S. exports.  Because the U.S. relies disproportionately upon income taxes, this foreign VAT tariff and subsidy impact is the biggest global trade distortion faced by American manufacturers.  Michael Stumo will explore the problem and possible solutions.

Admission is free, please RSVP at http://alturl.com/7v5xc

SOURCE EconomyInCrisis.org