There’s a perception of millennials as quirky (and problematic) young adults who haven’t quite bought into the system that has built America into the most robust economy the world has ever seen.
But millennials are now in their 20s and 30s, and they make up the largest share of laborers in the workforce. Despite millennials’ much-publicized embrace of socialism, millennials also tend to view entrepreneurship quite favorably.
If we’re going to encourage the latter — because entrepreneurship is a cornerstone of capitalism and a fount of future jobs — we must stop marginalizing millennials and start fully recognizing and cheering on their contributions to our economy.
A good first step in Texas would be to end the business franchise tax, commonly called the “margins tax.” This tax is particularly burdensome (both in direct costs and compliance) to the young cohort we wish to encourage.
Read more at San Antonio Express News.