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ObamaCare Flatlines...Taxes Home Sales (4% Federal Tax on Houses)
GOP.gov ^ | 4/8/10

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 ...


TOPICS: Breaking News; Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: bhoeconomy; bhofascism; bhohealthcare; bhosocialism; bloodoftyrants; commiecare; democratcorruption; democrats; economy; elections; fedgov; fedzilla; fubo; govtabuse; healthcare; homes; hopeychangey; housing; liberalfascism; liberals; nobama2012; nodemocrats2012; obama; obamacare; obamatruthfile; socialism; socialisthealthcare; taxcheatparty; taxes; tyranny
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I put this in "breaking" because it is urgent to remind people of this incoming asteroid to economic prosperity. Hussein wants to TAX HOME SALES.

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.

1 posted on 12/20/2011 1:24:38 PM PST by Recovering_Democrat
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To: Recovering_Democrat

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.


2 posted on 12/20/2011 1:29:18 PM PST by freespirited
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To: Recovering_Democrat

Kind of interesting, since his policies have effectively killed the economy and housing market.


3 posted on 12/20/2011 1:32:28 PM PST by edpc (Wilby 2012)
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To: Recovering_Democrat
So basically a year from now, the real estate market will be destroyed, thanks to Hussein's Death Care law.

How can you destroy that which already lies in ruins?

That is what Curtis LeMay referred to as making the rubble bounce.

4 posted on 12/20/2011 1:33:40 PM PST by Yankee (ANNOY THE RNC: NOMINATE NEWT GINGRICH!)
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To: Recovering_Democrat

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..


5 posted on 12/20/2011 1:34:31 PM PST by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: Recovering_Democrat

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.


6 posted on 12/20/2011 1:34:31 PM PST by Rich21IE
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To: freespirited; All
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.

* 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.

7 posted on 12/20/2011 1:37:38 PM PST by taildragger (( Palin / Mulally 2012 ))
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To: Recovering_Democrat
Is there one instance in the history of man, where taxing a behavior generates more of that same behavior?

Sheesh.

5.56mm

8 posted on 12/20/2011 1:39:16 PM PST by M Kehoe
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To: taildragger

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.


9 posted on 12/20/2011 1:40:36 PM PST by Venturer
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To: Recovering_Democrat

This guy is a piece of...I’m gonna say a bad word..SHIT!


10 posted on 12/20/2011 1:41:24 PM PST by normy (Don't take it personally, just take it seriously.)
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To: hosepipe

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.


11 posted on 12/20/2011 1:41:31 PM PST by fatnotlazy
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To: Venturer

Check the news on Jan 19, 2011. What else could they have done without the WH or Senate?


12 posted on 12/20/2011 1:45:16 PM PST by edpc (Wilby 2012)
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To: Recovering_Democrat

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.


13 posted on 12/20/2011 1:53:41 PM PST by SaxxonWoods (....The days are long, but the years are short.....)
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To: Recovering_Democrat

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.


14 posted on 12/20/2011 1:53:43 PM PST by grumpygresh (Democrats delenda est; zero sera dans l'enfer bientot.)
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To: Recovering_Democrat

One more reason to repeal 0bamacare.


15 posted on 12/20/2011 1:55:54 PM PST by smokingfrog ( sleep with one eye open ( <o> ---)
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To: Recovering_Democrat

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


16 posted on 12/20/2011 2:03:43 PM PST by molson209
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To: Recovering_Democrat

Insanity.


17 posted on 12/20/2011 2:03:54 PM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: freespirited

I just heard Cavuto singing the praises of Zero oratory skills.

I thought yeah Neal, He lies with such panache.


18 posted on 12/20/2011 2:08:15 PM PST by marty60
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To: fatnotlazy

[ 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. ]

You’re a racist and part of the Politics Corpse..


19 posted on 12/20/2011 2:11:00 PM PST by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: Venturer

Either you purposely lie or are extremely ignorant.

The Republican House passed legislation repealing Obamacare the first crack out of the box.


20 posted on 12/20/2011 2:12:50 PM PST by bert (K.E. N.P. +12 ..... Crucifixion is coming)
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To: molson209

“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.


21 posted on 12/20/2011 2:15:04 PM PST by kearnyirish2
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To: Venturer

When did the Republicans get control of the Senate and/or the executive branch?


22 posted on 12/20/2011 2:24:23 PM PST by skr (May God confound the enemy)
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To: Recovering_Democrat

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.


23 posted on 12/20/2011 2:26:07 PM PST by Anti-Bubba182
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...
The Doctor Fun Page
Thanks Recovering_Democrat.


24 posted on 12/20/2011 2:29:28 PM PST by SunkenCiv (Merry Christmas, Happy New Year! May 2013 be even Happier!)
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To: Yankee

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.


25 posted on 12/20/2011 2:33:50 PM PST by Portcall24
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To: Recovering_Democrat

Bump


26 posted on 12/20/2011 2:35:16 PM PST by Jet Jaguar
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To: freespirited
This will cost anyone who deducts medical expenses

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.

27 posted on 12/20/2011 2:48:55 PM PST by napscoordinator (Anybody but Romney, Newt, Perry, Huntsman, Paul. Perry and Obama are 100 percent the same!!!!!)
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To: Recovering_Democrat

Since Baraq Sheik Obomba (pizz be upon him) got elected, my health insurance premiums have gone up by about 89%.

FUBO.


28 posted on 12/20/2011 2:53:41 PM PST by Fresh Wind ('People have got to know whether or not their President is a crook.' Richard M. Nixon)
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To: Yankee

Wasn’t he, Lemay, also the fellow who rather famously said “it was necessary to destroy the ville in order to save it?”


29 posted on 12/20/2011 2:56:01 PM PST by ichabod1 (Mr Newt!)
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To: Portcall24

That ol General Lemay. He sure could sling the rettrick. Kinda like ol’ Don Rumsfeld.


30 posted on 12/20/2011 3:00:54 PM PST by ichabod1 (Mr Newt!)
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To: Anti-Bubba182

I pray every day for divine intervention to somehow, any way, free us of this scourge that is destroying our country.


31 posted on 12/20/2011 3:02:22 PM PST by jersey117 (.)
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To: Recovering_Democrat

” - - - 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.


32 posted on 12/20/2011 3:04:15 PM PST by Graewoulf (( obama"care" violates the 1890 Sherman Anti-Trust Law, AND is illegal by the U.S. Constitution.))
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To: Venturer

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.


33 posted on 12/20/2011 3:10:00 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: SaxxonWoods
It’s the Obama paradigm. If you work 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.

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"...

34 posted on 12/20/2011 3:11:52 PM PST by taildragger (( Palin / Mulally 2012 ))
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To: Rich21IE

Form a Nevada corporation, buy a house in the name of the corporation. It is your corporate headquarters. You are just the caretaker.


35 posted on 12/20/2011 3:36:41 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: marty60

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.

EODGUY


36 posted on 12/20/2011 4:06:25 PM PST by EODGUY (Hold on to your copies of the Consititution of the United States. It is going to be re-written.)
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To: Venturer
Republicans promised to do away with Obamacare. Another promise broken.

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.

37 posted on 12/20/2011 4:11:08 PM PST by cynwoody
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To: SaxxonWoods
It’s the Obama paradigm. If york hard and smart, save, invest, and build wealth you will be punished.

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.

38 posted on 12/20/2011 4:14:21 PM PST by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: napscoordinator

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.

EODGUY


39 posted on 12/20/2011 4:18:14 PM PST by EODGUY (Hold on to your copies of the Consititution of the United States. It is going to be re-written.)
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To: EODGUY

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.


40 posted on 12/20/2011 4:22:03 PM PST by napscoordinator (Anybody but Romney, Newt, Perry, Huntsman, Paul. Perry and Obama are 100 percent the same!!!!!)
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To: EODGUY

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.


41 posted on 12/20/2011 4:31:43 PM PST by marty60
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To: Recovering_Democrat

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.


42 posted on 12/20/2011 5:26:49 PM PST by Varsity Flight (Phony-Care is the Government Work-Camp: Arbeitsziehungslager)
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To: Yankee
That is what Curtis LeMay referred to as making the rubble bounce.

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.

43 posted on 12/20/2011 5:30:03 PM PST by hinckley buzzard
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To: Recovering_Democrat

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.


44 posted on 12/20/2011 5:32:39 PM PST by presently no screen name
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To: ichabod1

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.


45 posted on 12/20/2011 5:35:47 PM PST by hinckley buzzard
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To: presently no screen name

yes


46 posted on 12/20/2011 6:48:28 PM PST by Recovering_Democrat
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To: presently no screen name

yes


47 posted on 12/20/2011 6:48:47 PM PST by Recovering_Democrat
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To: grumpygresh
You would pay the 3.8% tax on any profit above 250,000 for individual and above 500,000 profit for a couple.

We don't need to spread dishonest fear mongering rumors on FreeRepublic. Obamacare requiring citizens to buy health insurance is bad enough.

48 posted on 12/20/2011 7:23:30 PM PST by listenhillary (Look your representatives in the eye and ask if they intend to pay off the debt. They will look away)
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To: Recovering_Democrat

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”?


49 posted on 12/20/2011 7:37:04 PM PST by MichaelCorleone (Stop feeding the beast; if they don't say "Merry Christmas", don't buy.)
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To: MichaelCorleone
What happened to the freshmen Republicans elected in 2010 with the mandate to repeal/defund/put a wrench in the works of obamacare?

The House did pass a bill repealing Obamacare, but passed it on to the "DO NOTHING RAT SENATE" where it went to die, AS THEY KNEW IT WOULD. House Passes ObamaCare Repeal

Frankly the GOP House has had three chances when they had the absolute power to DEFUND OBAMACARE which I thought was their backup plan.

(1) The Continuing Resolution passed Feb 2011.HR 1(remember this is the one where the GOP made campaign promises during 2010 of stripping out $100 BILLION of Fed spending, and ended up with $300 million and claimed victory!!).

(2)The House voted for raising U.S. debt ceiling by $2.1 trillion, August 2, 2011

and (3) The GOP had another bite at the funding apple when the last CR was passed. Breaking: House passes short-term continuing resolution in dead of night, September 23, 2011

NADA, ZIP, NO DEFUNDING OF OBAMACARE has taken place - only a repeal that had no chance of even being voted on in the RAT Senate. What good are GOP promises? Retire the whole bunch on Nov 6, 2012, or at a minimum dump the leadership.
50 posted on 12/20/2011 8:03:20 PM PST by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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