Large family businesses that employ thousands of people could soon be subject to the so-called. “Billionaire’s tax”!

View this email in your browser > Contact Your Member of Congress It Only Takes a Minute Large family businesses that employ thousands of people could soon be subject to the so-called. “Billionaire’s tax”! Under Senate Finance Committee Chairman Ron Wyden’s (D-OR) plan, taxpayers with over $1 billion in assets or $100 million in income for three consecutive years would be taxed on gains on stocks and other easily traded assets. It is quite possible that family businesses could be considered easily tradeable under this proposal and, depending on their size, be subject to this tax. This could potentially mean that a large family business, which employees thousands of workers would have to pay a capital gains tax rate of 20% or more on the unrealized gains of their family business, putting the business, its employees’ jobs, and ability to support their local communities at risk. Family businesses generate 59% of the workforce and 54% of the GDP…isn’t this something we want to promote and not undermine! Employees of family businesses are paid better and stay longer than those of non-family businesses. Even if a family-owned business is not impacted by this proposal, we must still be concerned about the precedent that would be set by taxing appreciation on assets annually – before they are sold and regardless of whether the assets can be easily liquidated at fair market value. Once this becomes law, what is to prevent Congress from moving the thresholds down from the billion to the million-dollar level? Tell the Democrats to stop this attack on family businesses and their employees! Get Your Voice Heard in Congress. Please Take Action Today Stay safe and healthy, Pat Soldano President; Policy and Taxation Group [email protected] 712 H Street NE Suite 1091 Washington DC 20002 714-357-3140 About Policy and Taxation Group Policy and Taxation Group is your voice in Washington on economic freedom. We advocate for policies that allow American families to fully enjoy the economic liberties and benefits of a robust free market unique to our nation. For over 25 years, we have been the loudest voice in the nation’s capital on eliminating the death tax. This ill-conceived tax has a destructive impact on families, family businesses, job creation, and the national economy. If you are not a Supporter, please help today. Have questions or would like more information about becoming a Supporter or donating? Please contact John Marino at [email protected]. If you are having difficulties with any link or component in this email, please contact Loren Nelson at [email protected]. Since your Email Provider probably uses some type of overzealous filtering; We ask that you add us to your trusted list of senders, contacts or address book. All also known as "Whitelisting."  If you do not see an email from Patricia Soldano or Policy and Taxation Group in your Inbox, our email may have mistakenly been sent to your spam folder.  Please open your spam folder and if you find an email from Patricia Soldano or Policy and Taxation Group open it and mark it as "Not spam".  NEXT: Whitelist [email protected]. Be sure you have added [email protected] to your address book to ensure you receive important notifications about your account. Unsubscribe | Manage your subscription 712 H Street NE Suite 1091, Washington, DC 20002