In February 2020, the American economy had a record low unemployment rate. Inflation was low, wages were increasing, and investment and retirement income was rising. Then the lockdowns were imposed and everything changed.
While the unemployment rate has rebounded, we know that this number is misleading as so many Americans have simply chosen not to re-enter the workforce. America’s labor participation rate remains at its lowest level since the mid-1970’s, and many businesses are now struggling to find workers.
In order for Virginia to get back to and exceed our pre-pandemic level of economic growth and prosperity, we must remove burdens placed on our citizens and job creators. While trillions of dollars of new “money” printed at the US Treasury was supposed to make things better, it’s also caused a labor shortage felt across virtually all sectors of our economy. This, combined with even more regulations, the threat of mandates, and higher taxes has caused our economy to stumble in it’s recovery.
Mandates and burdensome regulations need to be lifted. The threat of tax increases on our citizens and job creators must be rejected. Many small businesses pay taxes at the individual tax rate – which the current administration and its Democrat allies want to increase. This is foolishness, and I will fight these efforts tooth and nail.
We must move beyond the thinking that someone else’s success means that somebody else pays the price. That is how they think in the socialist countries that people are fleeing by the thousands. Our economy is not a zero-sum game. A high tide lifts all boats. Simply allowing our job creators to do what they do best is the best way to restore our economy, and reach even greater heights than we saw prior to the COVID-19 lockdowns.
Original source can be found here.
