Issue: Taxes
It has been said that Washington and Virginia don't have revenue problems — they have spending problems. Unfortunately, many of our elected officials don't share this viewpoint, and have recently passed legislation that calls for the largest tax increase in American history. This year the U.S. House of Representatives passed budget resolution would increase taxes on Virginia residents by an average of $2,964. These tax increases would be felt by all Americans, and include the reimposition of the marriage tax penalty and a reduction in the child tax credit. With an economic downturn, record job losses, and government spending at an all time high, the last thing taxpayers need is higher taxes.Today our current tax code is too complicated, too burdensome and it puts American-made products at a competitive disadvantage to foreign competitors.
OVN supports a flatter, simpler system for taxpayers to pay their income taxes. Under this type of system, individuals would be able to choose to pay their taxes using the current code, with all of its deductions and credits, or under a simplified tax option with just two low rates and with a tax form that would fit on a postcard. We believe that we should not double- and triple-tax Americans and OVN supports the elimination of the death tax, the Alternative Minimum Tax, and taxes on savings.
OVN supports a level playing field for American-made products to compete against foreign competitors, making it easier for American manufacturers to keep jobs in the U.S (and Virginia). Currently, our corporate tax rate is the second highest in the industrialized world, which kills American jobs and puts Virginia companies at a competitive disadvantage in a global economy.
OVN supports ending these backwards tax policies and putting Virginia workers in the position to thrive, instead of struggling to survive, in this period of economic uncertainty.
OVN supports a balanced budget. We all have to live within our means and balance our own personal budgets. We should expect nothing less from Congress. We cannot afford to keep spending the money we are without a real plan or without raising taxes. We cannot continue to spend the money we are without passing this burden on to our kids.
OVN supports putting the taxpayers first — not the government.
