[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”22px|||||” global_colors_info=”{}”][et_pb_row admin_label=”CTA” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” collapsed=”on” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_cta title=”Make Your Voice Heard on Capitol Hill” button_url=”https:\/\/www.congressweb.com\/PTG\/12\/” url_new_window=”on” button_text=”Contact your members of Congress now and ask them to stand with family businesses by joining the Caucus.” disabled_on=”off|off|off” admin_label=”Call To Action Top” _builder_version=”4.27.6″ _module_preset=”default” header_font_size=”22px” background_color=”#397389″ custom_button=”on” button_bg_color=”#ff0019″ custom_margin=”-17px|||||” custom_padding=”16px||19px|||” global_module=”9695″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_cta][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_5,3_5,1_5″ admin_label=”Author Byline” _builder_version=”4.24.3″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/www.brownandstreza.com\/davidkeligian” link_option_url_new_window=”on” collapsed=”on” global_colors_info=”{}”][et_pb_column type=”1_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/familyenterpriseusa.com\/wp-content\/uploads\/2024\/05\/Team-members-Pat-S.jpg” title_text=”Patricia M. Soldano” _builder_version=”4.25.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Author” _builder_version=”4.25.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n
By Patricia M. Soldano<\/a> [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_video src=”https:\/\/www.youtube.com\/watch?v=IN4WzYU4Bmk” disabled_on=”on|on|on” _builder_version=”4.27.6″ _module_preset=”default” disabled=”on” global_colors_info=”{}”][\/et_pb_video][et_pb_text admin_label=”1″ _builder_version=”4.27.6″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n <\/p>\n <\/p>\n For family-owned businesses, the issue of affordability just won\u2019t go away.<\/p>\n The research proves this out. In study after study affordability is what American\u2019s care about most. It\u2019s the number one concern.<\/p>\n You can feel it in checkout lines at the grocery store, at the gas pump, in healthcare costs.<\/p>\n Americans deserve a tax code that promotes a healthy economy, good jobs, and an affordable lifestyle.<\/p>\n Yet, our lawmakers want even more taxes on our best job creators, America\u2019s 32 million family-owned business.<\/p>\n In our just released Family Enterprise USA Annual Family-Owned Business Survey<\/a>, findings show the biggest tax policy concern this year is our high-income taxes, with 56% saying it\u2019s their No. 1 worry. This is up from 47% last year, a 20% jump!<\/p>\n It\u2019s not just worry over high income or \u201cDeath Taxes,\u201d either.<\/p>\n It\u2019s worry over new wealth taxes<\/a>, or what amounts to a \u201csavings penalty tax<\/a>.\u201d<\/p>\n In the survey, wealth tax concerns jumped 100%, going from a 5% concern last year to a 10% concern this year. Two years ago, wealth taxes weren\u2019t even on the radar.<\/p>\n The worry is growing daily as new California and other state and federal wealth tax bills are being placed in front of voters and lawmakers.<\/p>\n This can\u2019t end well. There will be consequences, bad consequences if taxes rise on our best job creators, and workers, while at the same affordability gets worse.<\/p>\n There are other warning signs too.<\/p>\n Private research unveiled earlier this month<\/a> from a survey of 1,000 American voters found a troubling rise in the acceptance of socialism, rising anger against business owners, and an increased appetite to create \u201csavings penalty taxes,\u201d or wealth taxes, on the most successful in our country, including the family-owned businesses.<\/p>\n The research, conducted by pollster and communications strategist, Dr. Frank Luntz,<\/a> revealed the best way to tackle the worsening affordability issue in the country is not by creating penalty taxes on our savings and on our best job creators, but by looking at the country\u2019s spending side of the ledger.<\/p>\n Research shows the best way to keep the health of our economy, to create good jobs, and to build strong communities is to \u201ccut waste, cut loopholes, and stop corruption\u201d in our federal and state governments.<\/p>\n We have plenty of revenue from our tax laws now. Waste, fraud, and corruption are the biggest affordability killers, the biggest drain on our economy and future.<\/p>\n The survey also shows people don\u2019t understand the term \u201cWealth Tax.\u201d<\/p>\n Most think they want to support wealth taxes until they realize it\u2019s not just a tax increase on the highest earners, it\u2019s also a tax on assets. This means a tax on the value of property, equipment, shareholdings, and all manner of personal and business assets. When this is explained, the push back is immediate.<\/p>\n Plus, it\u2019s job killing and is already causing disruption of businesses moving out of states, like California.<\/p>\n Here\u2019s an old new idea: No new taxes until waste, fraud, and corruption are gone. Let\u2019s fix our house before we give another dime. No new taxes at all!<\/p>\n Again, the research tells us we don\u2019t have a revenue issue, we have a spending issue.<\/p>\n Americans deserve a tax code that promotes a healthy economy, good jobs, and affordable living.<\/p>\n Yet, our lawmakers think a \u201csavings penalty tax\u201d is the solution. It\u2019s not.<\/p>\n Aptly, affordability was the topic in the Congressional Family Business Caucus<\/a> gathering in March.<\/p>\n In the upcoming June 9 meeting of the Congressional Family Business Caucus, the second of three this year, we now look forward to talking about growth. The bipartisan Caucus topic is: \u201cFuel for Growth: Capital Solutions for Family Business.\u201d<\/p>\n The meeting will be held inside the Capitol Building\u2019s Visitor Center and will feature presentations from family businesses, legislative and tax experts, and members of Congress.<\/p>\n Attendees will hear from family-owned business leaders discussing the challenges they face finding capital to fuel their family-owned businesses.<\/p>\n The Caucus features political and policy \u201cstate of play\u201d insights, including the worrying number of wealth tax initiatives, and presentations by family business leaders discussing how they\u2019re preparing for the Next Generation of leadership, and growth.<\/p>\n This Congressional Family Business Caucus meeting<\/a> is important because it focuses not on the right now, but on the future. Family businesses need to be more creative than ever in finding capital solutions that work now, and generations from now.<\/p>\n The challenges are many, but these forums help family-owned businesses navigate the future in what are increasingly complex times.<\/p>\n If you\u2019re interested in learning more, or attending the Congressional Family Business Caucus, contact: jgugliada@family-enterpriseusa.com<\/a>.<\/p>\n [\/et_pb_text][et_pb_cta title=”Want to learn more?” button_url=”https:\/\/familyenterpriseusa.com\/polling-and-research\/wealth-tax\/” button_text=”Visit our State and Federal Wealth Tax Tracker – Click Here ” admin_label=”State and Federal Wealth Tax Tracker CTA” _builder_version=”4.27.6″ _module_preset=”default” background_color=”#fc2f36″ custom_padding=”13px||18px|||” global_colors_info=”{}” global_module=”17129″ theme_builder_area=”post_content”][\/et_pb_cta][et_pb_divider divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text disabled_on=”off|off|off” admin_label=”Become a member text” _builder_version=”4.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5822″ global_colors_info=”{}”]<\/p>\n As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n The need for fact-based reporting of issues important to family owned businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, successful families<\/a> and family owned businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to family owned businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Become FEUSA member button” _builder_version=”4.21.0″ _module_preset=”default” custom_button=”on” global_module=”6503″ global_colors_info=”{}”][\/et_pb_button][et_pb_divider divider_style=”dotted” disabled_on=”on|on|on” _builder_version=”4.27.4″ _module_preset=”default” disabled=”on” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider disabled_on=”on|on|on” admin_label=”Video Slider Family Business Stories 1″ _builder_version=”4.27.4″ _module_preset=”default” disabled=”on” global_module=”5963″ global_colors_info=”{}”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=3k9d1tFz5AU&t=22s” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=kG0lDKbmJxg” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=HFK8SG1VSco” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=Z15BqbFOYck” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=bsn5xYrxhJg” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=PL3K3rK7ioA&t=5s” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=CpXRbRBhPKc” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text disabled_on=”off|off|off” admin_label=”FEUSA Statement” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n [\/et_pb_text][et_pb_text disabled_on=”off|off|off” admin_label=”Hash tags & Tags” _builder_version=”4.27.4″ _module_preset=”default” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #incometax #CapitalGainsTax #R&DExpensing #DontPunishSuccess #GrantorTrusts #StepUpinBasis #likeKindExchanges #AcceleratedDepreciation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #incometaxrates #repealestatetax #AdvocatingForFamilyBusinesses #FamilyOwnedBusiness #WomenOwnedBusiness @FamilyEnterpriseUSA #FamilyEnterpriseUSA #FEUSA<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" By Patricia M. Soldano President Family Enterprise USAAffordability and \u2018Savings Penalty Taxes\u2019 Remain Top Worries When Family-Owned Businesses Assess the Future New Research Confirms Affordability as Top Concern; June Congressional Family Business Caucus Looks to Fuel Growth For family-owned businesses, the issue of affordability just won\u2019t go away. The research proves this out. […]<\/p>\n","protected":false},"author":2,"featured_media":17404,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,102,92,94],"tags":[],"class_list":["post-17399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-family-business-caucus","category-multi-generational-business","category-pat-soldano"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/17399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17399"}],"version-history":[{"count":5,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/17399\/revisions"}],"predecessor-version":[{"id":17409,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/17399\/revisions\/17409"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/17404"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/strong>President<\/em>
\nFamily Enterprise USA<\/p>\nAffordability and \u2018Savings Penalty Taxes\u2019 Remain Top Worries When Family-Owned Businesses Assess the Future<\/strong><\/h2>\n
New Research Confirms Affordability as Top Concern; June Congressional Family Business Caucus Looks to Fuel Growth<\/strong><\/em><\/h3>\n
Capital to Fuel Growth<\/strong><\/h4>\n
We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n
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