The American Dream Overtaxed With Glenn Davis

In 1999, Glenn Davis lost his job during the Christmas holiday season, an event that would mark a rebirth of new ideas and a vision of a bright future. While sitting in his one-bedroom apartment, he had a major decision to make – to move back in with his parents, or to begin to make the American Dream become reality. After creating a startup telecommunications business in that very same apartment, it evolved into one of the 100 fastest growing IT firms in America. Now running for lieutenant governor of the Commonwealth of Virginia, the Virginia Beach representative in the state house is now bringing his experience to the people and showing how to make America even greater with hard working citizens.

The business entrepreneur-turned-state legislator passionately told me about what he thinks regarding the current morale and feeling the people have towards their government. “The American Dream is truly slipping away, we no longer celebrate those who create opportunities for people in this country, we actually penalize them to take from them to give to those who think government entitlements is a career choice,” he said. Americans are being grossly overtaxed and having penalities levied on their businesses due to Keynesian economic policies and tax collections.

The tax rates under the Obama Administration, which are still current, are nearly the highest in the industrialized world. The corporate tax rate is now 39.1 percent, 35 percent federal tax rate and an additional 4.1 percent average of state tax rates. Due to this, companies have been relocating their home offices in countries like Ireland, Lichtenstein, Switzerland, and others with much more favorable rates. Having these companies emigrate from the United States thins the government coffers of tax dollars they use to create the federal budget and pay for the nation’s defense, infrastructure, energy supply, education and any other federally-funded program. As well, it drives the price of production down in countries with little to no administration for labor laws and puts workers in America out of a job when  under-priced by a foreign competitor.

“Most of our tax policies were written in the ’50s and ’60s and that’s the problem with Virginia being 30th in tax rate…it hasn’t evolved,” Davis told me. He further explained that Virginians are taxed twice – once for income and the secondly for goods and services. He said, “Virginians are getting doubled taxed…we don’t want income tax…we need to pivot to match states like Maryland and North Carolina.” Some states like Nevada and Washington do not enforce a corporate income tax but rather impose gross receipts taxes on businesses, which many economists believe to be more economically harmful to small businesses. Though, Virginia does impose a gross receipts tax in addition to a corporate income tax, a double entendre in Terry McAuliffe’s “better for business” Virginia. Economists claim this prevents vertical integration and creation of a monopoly. Nonetheless, it ends in stagnant, slow growth that inhibits a small business owner from growing larger.

Moreover, Virginia’s credit downgrading by Standard and Poor shows that the economic situation is failing with more and more taxes being charged to the citizen. Davis showed me the way in which you can reverse the dependency the government has on the taxpayer is by reintroducing supply side free market solutions – Reaganomics.

Speaking about his early life, Davis explained, “The first president I remember is Ronald Reagan…we went from my parents having to stand in line for gas to the largest economic boom in our nation’s history. We had the Berlin Wall come down without a shot…we know peace through strength works.” He explained that the millennial generation has grown up under an Obama presidency and has not had the chance to see what the Republican Party can do. Davis wants to bring down taxes; a point he has made over the last 18 months.

Virginia needs a lieutenant governor that understands these details. Most politicians are not policy wonks or business gurus. The Commonwealth needs someone to stand for business solutions for coal alternatives, tech jobs, and a flourishing small business arena. Davis has a four-point plan to make Virginia number one for business and job growth. He has been running on the big issues to revive the economy like modernizing education, growing small businesses, creating 21st century jobs, and reforming the state tax code.

Davis told a crowd of onlookers that the way he achieved his success from his IT company to becoming a politician is hard work. After talking with him over the campaign season I have come to find that this is a core strength with the candidate. Davis always reiterates this point whenever he speaks in front of donors, voters, or the average Joe. This shows that he mean business when stands up to make a point or speaks his mind about the way in which our country is being governed. Lastly, he stated, “You can have anything in life if you work hard for it.”

By Alex Lemieux

Originally published by Millennial Ascent


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