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ObamaCare Flatlines: ObamaCare Taxes Home Sales - Clobbers Middle-Class Americans
GOP.Gov ^ | GOP.GOV

Posted on 09/25/2010 8:54:04 PM PDT by NavyCanDo

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,” President Obama, September 12, 2008

Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income, including the sale of single family homes, townhouses, co-ops, condominiums, and even rental income.

In February 2010, 5.02 million homes were sold, according to the National Association of Realtors. On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property can push middle-income families over the $250,000 threshold and slam them with a new tax they can’t afford.

This new ObamaCare tax is the first time the government will apply a 3.8 percent tax on unearned income. This new tax on home sales and unearned income and other Medicare taxes raise taxes more than $210 billion to pay for ObamaCare. The National Association of Realtors called this new Medicare tax on unearned income “destructive” and “ill-advised” and warned it would hurt job creation.


TOPICS: Breaking News; Business/Economy; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: bho44; bhoeconomy; bhofascism; business; defund; democratcorruption; democrats; economy; healthcarebill; hiddentaxes; homes; hopeychangey; liars; liberalfascism; marxism; obama; obamacare; realestate; repeal; socialism; tax; taxes
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3.8% sales TaX IF YOU SELL YOUR HOME STARTING IN 2013-THIS IS IN THE HEALTH CARE BILL!
1 posted on 09/25/2010 8:54:06 PM PDT by NavyCanDo
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To: NavyCanDo
All this will do it jack up home prices and make owning a home more out of reach for the middle class. The more expensive the home, the more the 3.8% tax will generate revenue for HELL CARE that nearly everyone REJECTS.
2 posted on 09/25/2010 8:56:21 PM PDT by nmh (Intelligent people recognize Intelligent Design (God).)
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To: NavyCanDo

I didn’t know that!

Thanks for pointing that out.


3 posted on 09/25/2010 8:56:52 PM PDT by nmh (Intelligent people recognize Intelligent Design (God).)
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To: NavyCanDo

“Ya gotta pass it to find out what’s in it!” - Nazi Polizei


4 posted on 09/25/2010 8:58:59 PM PDT by FlingWingFlyer (Don't listen to what they say, watch what they do.)
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To: NavyCanDo

Well, now you know why they didn’t want anyone reading it...


5 posted on 09/25/2010 8:59:16 PM PDT by ltc8k6
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To: NavyCanDo

we were lied to again, or as pelosi said, we have to pass it, in order, to know what is in it. yep, dang it, our rulers have done it to us again, is all I can say. No wonder we, Americans, or so many of us are discouraged with the current crop of democrats and rinos....in my humble opinion.


6 posted on 09/25/2010 9:00:10 PM PDT by no-to-illegals (Please God, Bless and Protect Our Men and Women in Uniform)
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To: NavyCanDo
Yep, I just read this today. This needs to be in the next political ad of every GOP Candidate for Congress and Senate in America. Special interest groups, like the Tea Party Express, needs to run this ad.

Come on, let's get the word out. If ObamaCare is not repealed by a Republican Congress, there will be a 3.8% tax to pay on home sales.

7 posted on 09/25/2010 9:00:21 PM PDT by no dems (DeMINT / PALIN 2012 or PALIN / DeMINT 2012.......Either is fine with me!)
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To: NavyCanDo

The good news is, “You’ll be able to keep your doctor until they say to hell with it, I’m hangin it up.” LOL!!!


8 posted on 09/25/2010 9:01:42 PM PDT by FlingWingFlyer (Don't listen to what they say, watch what they do.)
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To: NavyCanDo

Ministry of Plenty bookmark.


9 posted on 09/25/2010 9:01:49 PM PDT by IrishCatholic (No local Communist or Socialist Party Chapter? Join the Democrats, it's the same thing!)
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To: NavyCanDo

FUBO


10 posted on 09/25/2010 9:03:13 PM PDT by muddler (Diligentia, Vis and Celeritas)
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To: NavyCanDo

It’s like having to pay for an extra real estate agent you never hired in the first place.


11 posted on 09/25/2010 9:05:51 PM PDT by xp38
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To: FlingWingFlyer

My doctor already has closed up except for two day a week, no insurance and no medicare.

We negotiate with them directly after paying him for the office visit.

Since I have a heart condition and can see that my GP will soon hiang it up altogether, I decided that I should get linked up with a cardiologist and build a relationship so that if and when something happens in the middle of the night, I don’t get ignored.

The first thing he told me was that he would be glad to take care of me “for so long as I stay here”.

So he is also considering quitting.

And he is young. Younger than my youngest daughter.


12 posted on 09/25/2010 9:07:58 PM PDT by old curmudgeon
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To: NavyCanDo

Socialism is very expensive. The politicians have to get the money from somewhere. They sure as hell don’t want to pay for it out of THEIR pockets.


13 posted on 09/25/2010 9:08:15 PM PDT by FlingWingFlyer (Don't listen to what they say, watch what they do.)
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To: NavyCanDo

This sack of RAT feces has to be repealed or found unconstitutional.


14 posted on 09/25/2010 9:09:26 PM PDT by ExTexasRedhead (Take back our country on November 2, 2010. Let's Roll!!!)
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To: no dems

That 3.8% is on rental income too, granted it gets tacked on the high income base, but when they have to raise their rents to cover costs - everybody will follow suit

Signed~the landlord~

Coming to a revised rental agreement near you - yours.

That message has to get out too...


15 posted on 09/25/2010 9:10:27 PM PDT by libertarian27 (Ingsoc: Department of Life, Department of Liberty, Department of Happiness)
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To: old curmudgeon

I’ve lost two already. I heard another is leaving due to ‘economic conditions’. Just can’t afford to have the office anymore. The freeloaders really screwed themselves by demanding ObamaCare. What good is healthcare if there aren’t any doctors around?


16 posted on 09/25/2010 9:11:24 PM PDT by FlingWingFlyer (Don't listen to what they say, watch what they do.)
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To: NavyCanDo

this is bs. House sales gains at least up to 500k for mfj are not subject to any obamacare tax. No need to make up things.


17 posted on 09/25/2010 9:13:03 PM PDT by heiss
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To: NavyCanDo
My favorite ObamaCare provision:

SIXTEEN THOUSAND (16,000) NEW I.R.S. AGENTS!

I am just guessing here, but I detect a possible little white lie when Obama and the democrats promised no new taxes.

18 posted on 09/25/2010 9:13:30 PM PDT by FormerACLUmember (Character is defined by how we treat those who society says have no value.)
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To: musicman

BFLR


19 posted on 09/25/2010 9:14:27 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: FlingWingFlyer
What good is healthcare if there aren’t any doctors around?

Not having any doctors creates a "crisis". We all know what that means.

20 posted on 09/25/2010 9:16:15 PM PDT by tacticalogic
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To: nmh
I didn’t know that!

.

Neither did anyone else.


21 posted on 09/25/2010 9:17:00 PM PDT by Cobra64
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To: NavyCanDo
“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,” President Obama, September 12, 2008

'nuff said!

22 posted on 09/25/2010 9:17:00 PM PDT by jaz.357 (Stock up on AMMO Bro!)
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To: NavyCanDo; All
HEY FREEPERS: Put this on Facebook, Twitter and send it to people in your e-mail address book. I did.
23 posted on 09/25/2010 9:18:33 PM PDT by no dems (DeMINT / PALIN 2012 or PALIN / DeMINT 2012.......Either is fine with me!)
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To: musicman

“Read my lips: no new taxes” is a now-famous phrase spoken by then presidential candidate George H. W. Bush at the 1988 Republican National Convention

Obama probably won’t even get quoted for that...........


24 posted on 09/25/2010 9:20:11 PM PDT by PROSOUTH ( Deo Vindice "God Will Vindicate")
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To: NavyCanDo

This is not entirely accurate,as it suggests that all sales will be subjected to the 3.8% tax. The tax, as I understand it, applies to any amount above the cap gain on a house sale and not just any sale that falls below the allowable gain.

It’s still a crock, as it’s just another hit on so-called high earners and an attack on profit, not to mention that it has no place hidden in a healthcare bill that hardly any pol voting on it even read.


25 posted on 09/25/2010 9:20:11 PM PDT by Laur
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To: NavyCanDo
Q. What has a shorter expiration time, An Obama promise, A Communist promise , or an Islamic promise?

A. Trick question , they are all the same guy.

26 posted on 09/25/2010 9:20:16 PM PDT by Nateman (If liberals are not screaming you are doing it wrong!)
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To: NavyCanDo

If his mouth is moving, he is lying.


27 posted on 09/25/2010 9:23:00 PM PDT by spodefly (This is my tag line. There are many like it, but this one is mine.)
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To: NavyCanDo

Is this sales tax levied also when you make a loss on the sale of your home?


28 posted on 09/25/2010 9:23:56 PM PDT by bergmeid
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To: heiss
500k for mfj

What is an "mfj?"

29 posted on 09/25/2010 9:24:09 PM PDT by Cobra64
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To: nmh
Part of a letter sent to us by our CEO - exposing more lies about regular folks not being taxed. When they increased my companies tax by 40%, where do they thing that money will come from?

— “The Health Care Reform Law passed earlier this year, while broadening access to health care, could further add to the company’s costs over the next several years – and in 2018, could subject Boeing to a substantial tax on health care plans exceeding a certain threshold.

Today, Boeing pays about 89 percent of total health care costs for employees, far above peer companies such as Lockheed Martin, General Electric and 3M, which pay about 70 percent. The company expects to spend more than $2.4 billion on health care this year, which adds about $2 million to the cost of every airplane we build. Costs could reach $3.1 billion by 2015.

We’ve got to work together to manage these costs. The company will continue to offer excellent health-care benefits and to bear most of the financial burden. But beginning in 2011, nonunion employees will be asked to pay a greater share of their health care costs. Health-care coverage for employees represented by unions is governed by collective bargaining agreements and will be discussed as those contracts are renegotiated. Detailed information about coming changes will be available in October when letters go to the homes of Boeing employees in advance of the 2011 enrollment period.”

30 posted on 09/25/2010 9:24:34 PM PDT by NavyCanDo
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To: NavyCanDo

Does it tax commercial real estate too? Anybody know?


31 posted on 09/25/2010 9:24:55 PM PDT by Nateman (If liberals are not screaming you are doing it wrong!)
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To: Cobra64

Married, filing jointly.


32 posted on 09/25/2010 9:28:40 PM PDT by ArmstedFragg (hoaxy dopey changey)
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To: Cobra64

FUNP!

FUBO!


33 posted on 09/25/2010 9:31:51 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one.)
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To: heiss
“this is bs. House sales gains at least up to 500k for mfj are not subject to any obamacare tax. No need to make up things.”

Don't accuse me of making things up. Its from the web site, is you would have spent a second clicking on the link you would have known that. If you have contrary information to share then do so. My issue is its from a April 2010 post, so I don't know if what they were talking about is still in the bill.

34 posted on 09/25/2010 9:32:22 PM PDT by NavyCanDo
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To: old curmudgeon

What you are describing is what brought communism to a halt in Chile and even eventually the Soviet Union. The productive people go on strike. The drones and parasites find themselves dictators without subjects.

We are going to stop these bastards.


35 posted on 09/25/2010 9:32:38 PM PDT by Psalm 144
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To: NavyCanDo; All
There is a slight misunderstanding in that the tax on home sales only apply to the net profit and only after any exclusion. This is still wrong to include this stupid tax (like the upcoming energy tax if you sell your home under cap and trade). The problem is that the defenders of the bill say it will only effect the "Rich". But ya know, if they take 100% of all the money from the people making over $500K, the gov. would only get about $1.2 Trillion. Once !! - Now what do they do? The tax cut expiring on the "rich" in January will only raise about $70B per year - as if that is going to help a $13 Trillion or so deficit.

Anyway, here is the info from Factcheck.org regarding the sales tax in Obamacare:.

We've been flooded with queries about this one ever since the health care bill became law. At the last minute, Democratic lawmakers decided on a new 3.8 percent tax on the net investment income of high-income persons. But the claim that this would amount to a $15,200 tax on the sale of a typical $400,000 home is utterly false.

The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. And even for those who have such high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal residence — or to the first $500,000 in the case of a married couple selling their home.

We can understand how this misconception got started. The law itself is couched in highly technical language that only a qualified tax expert can fully grasp. (This provision begins on page 33 of the reconciliation bill that was passed and signed into law.) And it does say the tax falls on "net gain … attributable to the disposition of property." That would include the sale of a home. But the bill also says the tax falls only on that portion of any gain that is "taken into account in computing taxable income" under the existing tax code. And the fact is, the first $250,000 in profit on the sale of a primary residence (or $500,000 in the case of a married couple) is excluded from taxable income already. (That exclusion doesn’t apply to vacation homes or rental properties.)


http://www.factcheck.org/2010/04/a-38-percent-sales-tax-on-your-home/
36 posted on 09/25/2010 9:33:22 PM PDT by bobsunshine
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To: Cobra64

That revenant really needs to sue her taxidermist for malpractice.


37 posted on 09/25/2010 9:34:21 PM PDT by Psalm 144
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To: NavyCanDo

This is why Nazi Pelosi wouldn’t let anyone see the bill before they voted on it. If it had gotten out that they were doing this to the middle class, all hell would have broken lose. Now that they have it, they will keep raising the home sales tax anytime they get power.


38 posted on 09/25/2010 9:40:21 PM PDT by SaraJohnson
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To: heiss

You are bs


39 posted on 09/25/2010 9:41:10 PM PDT by Carling (Remember November)
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To: NavyCanDo
Our middle kid and her husband as well as our youngest and her husband voted for this nightmare in the WH. The middle one and her husband have lost their house...can't pay the mortgage...put hundreds of thousands of dollars in the reno of the 1970something house ( which is on a farm). So now they are moving out of the country..selling what they can, keeping the most meaningful things and off they go..they have a business that they set up several years ago in another country so they will have a living but it makes me feel that here they go...they voted for this creep and all the damage that is being done BECAUSE THEY HAD BUSH DERANGEMENT SYNDROME AND WOULD NOT LISTEN NOR READ ANYTHING ABOUT THIS GUY OR HIS COMMRADES...AND NOW THEY LEAVE THE COUNTRY FOR PARTS ELSEWHERE WHILE THE REST OF US ARE LEFT TO CLEAN UP THIS F§¶√–¢∞ MESS.....IF WE CAN...AND YES I AM SHOUTING...AT THE SITUATION NOT YOU GUYS HERE ON THE SANITY THREAD!!
40 posted on 09/25/2010 9:49:33 PM PDT by celtic gal
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To: NavyCanDo

A pledge to kill obamacare should be a requirement to being elected for ALL Congresscritters-!


41 posted on 09/25/2010 9:53:04 PM PDT by imjimbo (The constitution SHOULD be our "gun permit")
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To: heiss
House sales gains at least up to 500k for mfj are not subject to any obamacare tax.

That's what it says on Snopes, but in this case, Snopes is wrong. It's mfj of 250K, not 500K, which you can read for yourself earlier in the same Snopes article. The mistake they made was applying the 250K to both husband and wife, which is not the way the law is worded.

Note that Snopes is careful to attribute the erroneous example to someone else. It's as though they know it's wrong, but though they use it authoritatively to prove their point, they're shielded. It's not their fault.

Snopes is run by an extremely liberal couple.

42 posted on 09/25/2010 9:53:16 PM PDT by Rocky (REPEAL IT!)
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To: NavyCanDo

Find later


43 posted on 09/25/2010 9:55:40 PM PDT by Darnright (There can never be a complete confidence in a power which is excessive. - Tacitus)
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To: celtic gal
similar experience(s) scattered 'round everywhere.
remember it could be worse. i don't know. none of us
know. but remain calm. for the sake of the sane.
44 posted on 09/25/2010 9:56:40 PM PDT by no-to-illegals (Please God, Bless and Protect Our Men and Women in Uniform)
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To: NavyCanDo

Here’s is his goal.

Obama IN HIS OWN WORDS saying His Health Care Plan will ELIMINATE private insurance

http://www.youtube.com/watch?v=p-bY92mcOdk

Listen to the whole clip!


45 posted on 09/25/2010 9:57:06 PM PDT by nmh (Intelligent people recognize Intelligent Design (God).)
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To: NavyCanDo

This should be interesting as companies EXPLAIN the INCREASED COSTS!

Obama’s Health Secretary Threatens Insurance Companies Who Question Obamacare
Rob Port • September 13, 2010

Obama’s Secretary of Health is threatening to lock insurers who criticize Obamacare out of the market by not approving their policies for sale.

But remember folks, Kent Conrad says this isn’t a government take over of health care.

...

Witness Kathleen Sebelius’s Thursday letter to America’s Health Insurance Plans, the industry trade group—a thuggish message even by her standards. The Health and Human Services secretary wrote that some insurers have been attributing part of their 2011 premium increases to ObamaCare and warned that “there will be zero tolerance for this type of misinformation and unjustified rate increases.”

Zero tolerance for expressing an opinion, or offering an explanation to policyholders? They’re more subtle than this in Caracas. …

This is nasty stuff and an obvious attempt to shift political blame for rising insurance costs before the election. It’s also an early sign of life under ObamaCare, when all health-care decisions are political and the bureaucrats decide who can charge how much for a service or product.

Remember that under Obamacare, the Secretary of Health is responsible for approving all health insurance policies offered for sale in the United States. So if you question the administration, they can simply tell you that you can’t sell your policies.

...

But if insurance companies try to communicate to their customers that their insurance rates are going up because health care costs are going up thanks to policies implemented by this administration…they’ll be punished by said administration.

...

http://sayanythingblog.com/entry/obamas-health-secretary-threatens-insurance-companies-who-question-obamacare/


46 posted on 09/25/2010 10:01:09 PM PDT by nmh (Intelligent people recognize Intelligent Design (God).)
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To: Psalm 144

Who is John Galt?


47 posted on 09/25/2010 10:03:32 PM PDT by phatus maximus ( John 6:29. Learn it, love it, live it.)
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To: NavyCanDo

So every time Americans complain about our pitiful shortages in health care, our option will be to strip home owners of their more of their equity. So much for home ownership. It won’t ever be looked at as an investment again.


48 posted on 09/25/2010 10:12:17 PM PDT by SaraJohnson
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To: NavyCanDo

Another Obamacare Surprise - A Real Estate Tax?

http://www.redstate.com/reddog53/2010/09/14/another-obamacare-surprise-a-real-estate-tax/

“The Democrats in Congress have been caught in another grand theft through Obamacare.

This time, it’s taxing Real Estate transactions - starting in 2013 there is a 3.8% tax on all real estate sales effective in 2013 according to tax expert Paul Guppy in an article in Spokesman Review entitled “Health Law’s Heavy Impact.”


49 posted on 09/25/2010 10:15:26 PM PDT by SmartInsight (Bad officials are elected by good citizens who do not vote. ~ G. J. Nathan)
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To: ExTexasRedhead

You were on this months ago...


50 posted on 09/25/2010 10:15:35 PM PDT by GOPsterinMA (Support and vote for Sean Bielat (MA-4)! MA-4 is Barney Frank's district.)
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