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.