Skip to comments.ObamaCare Flatlines...Taxes Home Sales (4% Federal Tax on Houses)
Posted on 12/20/2011 1:24:23 PM PST by Recovering_Democrat
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 of high-income taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the high income thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time.
(Excerpt) Read more at gop.gov ...
So basically a year from now, the real estate market will be destroyed, thanks to Hussein's Death Care law.
An old article worth reminding people about.
It’s a flaming lie. The medical exclusion has been increased from 7.5% of income to 10%. This will cost anyone who deducts medical expenses ... in many cases under 250K, bigtime. Not to mention that prices will go up on all sorts of medical products to cover the taxes imposed on their manufacturers.
Kind of interesting, since his policies have effectively killed the economy and housing market.
How can you destroy that which already lies in ruins?
That is what Curtis LeMay referred to as making the rubble bounce.
Obama knows exactly what hes doing.. IN CASE ANY think hes just incompetent or stupid..
This seems to HARD for some republicans to grasp.. and ALL DEMOCRATS..
Yea, that’s one of many reasons we already sold our house and are now renting.
And I don’t expect the GOP to do anything about this.
* Add to that 10% jump...
* FSA's being reduced to $2,500 down from $5,000
* And Medical Appliance Tax...
All that add's up to some very pissed off parents of special needs kids. Ask around, IMHO this is a voting block that will be heard.
Its time someone was heard. Republicans promised to do away with Obamacare. Another promise broken.
One party is as bad as the other, we need a real party.
This guy is a piece of...I’m gonna say a bad word..SHIT!
On his own, Obama is as dumb as a post. That’s why he can’t utter a word without a teleprompter. He is, however, an effective tool for those who are destroying America.
Check the news on Jan 19, 2011. What else could they have done without the WH or Senate?
It’s the Obama paradigm. If york hard and smart, save, invest, and build wealth you will be punished.
If you work less, borrow more, spend stupidly and don’t acquire wealth you will be rewarded.
Will this be a tax on the profit generated during a home sale or is this a tax on the sale itself? If this is a tax on the net profit there will be no net profit because housing prices have been so depressed.
One more reason to repeal 0bamacare.
Hussein wants to TAX HOME SALES
He wants to own the homes and let you live there ,if you’re a good Party member that is
I just heard Cavuto singing the praises of Zero oratory skills.
I thought yeah Neal, He lies with such panache.
[ On his own, Obama is as dumb as a post. Thats why he cant utter a word without a teleprompter. He is, however, an effective tool for those who are destroying America. ]
You’re a racist and part of the Politics Corpse..
Either you purposely lie or are extremely ignorant.
The Republican House passed legislation repealing Obamacare the first crack out of the box.
“Hussein wants to TAX HOME SALES”
The Dems are trying to prevent the flood of money and talent from lib states to American states (which is well underway already); unless they nationalize the misery, their states will continue to bleed jobs and electoral votes, and will be at the mercy of Dixie and Middle America.
When did the Republicans get control of the Senate and/or the executive branch?
If America reelects Obama this is just the beginning. On a second term he won’t need to restrain himself. He can do vast damage with executive orders.
He also said, “I can’t tell difference between incompetent and unlucky. I can’t afford to have either in my Command.” or close to that. Kind of makes one think of the current administration, doesn’t it.
Are we able to deduct all medical expenses throughout the year that we spent? I did not know that and never did this before. So we can deduct the out of pocket expenses on office visits and prescriptions? If so this is new to me but pleasantly glad to know about it.
Since Baraq Sheik Obomba (pizz be upon him) got elected, my health insurance premiums have gone up by about 89%.
Wasn’t he, Lemay, also the fellow who rather famously said “it was necessary to destroy the ville in order to save it?”
That ol General Lemay. He sure could sling the rettrick. Kinda like ol’ Don Rumsfeld.
I pray every day for divine intervention to somehow, any way, free us of this scourge that is destroying our country.
” - - - Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of high-income taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. “
Obama”care” is an illegal program, and an unwanted, compulsory tax.
I didn’t know the Republicans could pass laws all by themselves.
They certainly aren’t perfect but theres no need to lie about them.
So we redefine what wealth is...
It maybe $ into welding classes and a MIG in the garage instead of the 401k, and a garden. All sorts of things that don't require "Fedzilla" in our lives. In a sense we can Go Galt even in the Suburbs and be the new "Non Traditional Millionare Next Door"...So many ways to thumb our nose at this little potentate, without him knowing what we are "worth"...
Form a Nevada corporation, buy a house in the name of the corporation. It is your corporate headquarters. You are just the caretaker.
I’ve had the pleasure of listening to some magnificent orators in person; Alan Keyes is one of many, and I absolutely do NOT understand how anyone could consider obama an eloquent speaker.
If you must include inappropriate pauses, Uhmmmms, etc. in a speech that is being read from a teleprompter, my money says you probably sat on the bench as a member of your debate club.
How is it a promise broken if the voters failed to elect enough Republicans? You need two thirds of both houses to repeal it while Zero remains in office.
That's why it's important to make enough money under the table as to avoid getting wacked for being successful.
And yes that means finding EVERY way you can to deny this P.O.S. so called govt. of ours anything you earn. If they are so hell bent on f**king me over I will return the favor in spades!
It's way past time for a MAJOR tax revolt in this country, it's the only thing that will save us.
Apparently, at least up until 2011, you could deduct out-of-pocket medical expenses that exceeded 7.5% of your gross income.
These deductible items included mileage to and from doctor appointments; prescription medication costs; health care insurance premiums that were paid by you out-of-pocket; medical devices that were prescribed and purchased in whole or in part by you. There may have been more, but those are the one’s I track.....at least now.
Medical expenses, mortgage interest and property taxes are virtually the most prominent deductions available to the middle class. This administration would love to do away with all of them.
If you have the documentation, it might be worth asking your tax consultant if the medical deductions can be tallied and claimed retroactively.
Thank you so much. I had no idea. I will get with the tax guy. I have to this year anyway because I have moving expenses that SUPPOSEDLY I can deduct. I will get the rules on that from the tax person. But I want to thank you so much for letting me know this. It might make a nice difference in the bottom line.
Yes I agree, I liked Alan Keyes. I voted for Forbes during his time though. The one that speaks straightforward and with a sense of authority of course is Col. Congressman West. I realize he is in his first term. But I could see him as VP very easily.
When you hear someone speaking that you KNOW is lying to you, no matter how smooth the presentation it’s still a lousey speech.
Repeating: They bully, club, they’re the Cain-Federal Government and RICO lobby. Couldn’t take the loss of their false-bank holdings, so are going after everyone else, instead of finding work, or contributing by creating their own sport.
They are attempting theft with PhonyCare (and much else).
They are wolves in sheeps clothing, devisers of Arbeitsziehungslager, if you overlook thousands of rules. The PhonyCare WorkCamp.
I think that quote is usually attributed to Churchill. LeMay was too busy designing the "box formation" that helped our daylight bombers defend themselves from Nazi fighters before the Mustangs appeared on the scene to escort them to their targets. The "formations" became a well known sight, hundreds of bombers wide, familiar even to German civilian onlookers, who as likely as not were rooting for us against them in the last year of the war.
We need to support a candidate with a landslide victory in the primary. We know what’s up ahead and we can’t fault anyone but ourselves - now is our one shot of getting rid of this beast.
No. That was a ground officer in Vietnam talking about the village of Ben Suc. (he was about right btw). Nothing to do with LeMay who was a genuine WWII war hero.
We don't need to spread dishonest fear mongering rumors on FreeRepublic. Obamacare requiring citizens to buy health insurance is bad enough.
What happened to the freshmen Republicans elected in 2010 with the mandate to repeal/defund/put a wrench in the works of obamacare?
Aside from the worn and tired excuse of “well, we don’t control the whole government, so therefore they can’t be expected to do anything”?