Skip to comments.ObamaCare Flatlines: ObamaCare Taxes Home Sales - Clobbers Middle-Class Americans
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 cant 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.
I didn’t know that!
Thanks for pointing that out.
“Ya gotta pass it to find out what’s in it!” - Nazi Polizei
Well, now you know why they didn’t want anyone reading it...
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.
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!!!
Ministry of Plenty bookmark.
It’s like having to pay for an extra real estate agent you never hired in the first place.
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.
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.
This sack of RAT feces has to be repealed or found unconstitutional.
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
Coming to a revised rental agreement near you - yours.
That message has to get out too...
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?
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.
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.
Not having any doctors creates a "crisis". We all know what that means.
Neither did anyone else.
“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...........
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.
A. Trick question , they are all the same guy.
If his mouth is moving, he is lying.
Is this sales tax levied also when you make a loss on the sale of your home?
What is an "mfj?"
“The Health Care Reform Law passed earlier this year, while broadening access to health care, could further add to the companys 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.
Weve 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.”
Does it tax commercial real estate too? Anybody know?
Married, filing jointly.
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.
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.
That revenant really needs to sue her taxidermist for malpractice.
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.
You are bs
A pledge to kill obamacare should be a requirement to being elected for ALL Congresscritters-!
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.
Here’s is his goal.
Obama IN HIS OWN WORDS saying His Health Care Plan will ELIMINATE private insurance
Listen to the whole clip!
This should be interesting as companies EXPLAIN the INCREASED COSTS!
Obamas Health Secretary Threatens Insurance Companies Who Question Obamacare
Rob Port September 13, 2010
Obamas 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 isnt a government take over of health care.
Witness Kathleen Sebeliuss Thursday letter to Americas Health Insurance Plans, the industry trade groupa 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? Theyre 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. Its 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 cant 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 theyll be punished by said administration.
Who is John Galt?
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.
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.”
You were on this months ago...
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