That Anglicanism is wholly "protestant" is an extremely simplistic assertion and hinges on the meaning of the term itself. However, so too is the contention among some that the term "protestant" doesn't apply to Anglicanism in even the slightest sense. Asked if we Anglicans are Protestant or Catholic, some will say: "We are Catholic, but not Roman--we are not Protestants." This is simplistic and historically erroneous, and any layperson with an interest in reading would soon find very Catholic sounding Churchmen of the 16th and 17th centuries (such as Bishops Cosin and Andrewes) embracing the term Protestant. (But my rector said it wasn't so!) What to make of it then?
Let me turn to the good Father C.B. Moss for a fuller explanation (from Answer Me This):
When one is confused as to the use of these terms, they ought to be clearly explained. Some will argue (as Moss actually does) that the term Protestant has changed so much that we should omit its use all together (many Lutherans argue likewise, in that the old use of the term Protestant only referred to Anglicans, Lutherans, and Presbyterians; now that it refers so loosely to almost anyone not Roman Catholic it has become meaningless). However, the same could be said of the term "Catholic," since almost everyone means Roman when they say "Catholic" in the United States: Let's just stop using the word since it is so easily misunderstood. In my opinion we should follow the language of the Anglican divines, using both terms correctly and explaining the meaning in a clear manner to avoid confusion.
Is Anglicanism Protestant or Catholic? Ideally--when Anglicanism is practised according to the Prayer Book and the Catholic Faith enshrined in the Creeds--it is both, in the best sense of both terms.