February 8, 2023 • Protect Family Savings
Saving America’s Family Enterprises (SAFE) Relaunches to Oppose Taxing Unrealized Gains
“The organization is announcing an initial six-figure paid media campaign.”
Washington, D.C. – February 8, 2023 – Today, Saving America’s Family Enterprises, Inc. (SAFE), a nonprofit,nonpartisan educational organization, relaunched with an initial six-figure paid media campaign opposing proposals to tax unrealized gains. If enacted, these proposals, which are based on guesswork valuation of assets, would make our tax code more complex, create new ways for the wealthy to evade taxes, and further burden middle class taxpayers with paying more than their fair share.
The initial six-figure paid media campaign will target numerous media markets around the country as well as Washington, D.C., and can be viewed here.
“Lawmakers have proposed a range of well-intended but destructive tax policy ideas that would fundamentally change how we define income and tax capital and savings. An annual tax on unrealized gains means paying tax on the increased value of your assets, including your home, investments, or business every year – even if you haven’t sold them,” said Marcia Alfaro, Executive Director for SAFE. “Valuing assets is complex guesswork allowing wealthy taxpayers to do what they do now, find loopholes to avoid paying. Let’s get wealthy taxpayers to pay what they owe instead of adding a new overly complicated tax with new loopholes that fundamentally changes tax policy.”
SAFE believes that wealthy Americans must pay the taxes they owe. Adding a new complex tax with new loopholes only benefits the wealthy, their lawyers, and accountants further shifting the burden of paying the federal government’s bills to middle-income taxpayers. The tax code must support the ability of the middle class, small businesses, and family farms to prosper and not be burdened with paying more than their fair share.
During the last Congress, SAFE successfully worked to educate voters nationwide about the negative consequences of the STEP Act on the ability of farmers, family businesses, and parents to pass on what they worked so hard to build in their lifetime.