Take Action: Family Businesses Could be Subject to the Billionaires Tax!
Contact your member of Congress and tell him/her to STOP the Billionaires Tax!
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.
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.
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!
