Health-Reform is Constitutional: Here are the Tax Implications (Taxes and more taxes)

Fox News ^ | 6/28/2012 | by Bonnie Lee

[Boiling point]

That made me think of a great bumper sticker. Kill the death panel before they kill you!

[funfan]

The tax penalty starts with salaries 65K that is way under $250K. Obama is a liar and an evil son of a bitch. Sorry for the curse word I can't stand him and I am really sad today. I am also sick of the talking heads who are saying this is a win for Obama or it will be a win for Romney the point here is the American People are screwed while the politico's on both sides of the aisle always come out on top. Shame on the President the Court and Congress and shame on the people who voted for Obama and I hope they all get taxed and have no insurance and get sick and are put on a waiting list are you reading this DU

[Intolerant in NJ]

In a landmark decision, the Supreme Court upheld the president’s signature health-care reform in a 5-4 decision. The court ruled the most controversial aspect of the law, the individual mandate, as constitutional, labeling it a tax and within lawmakers’ power...actually, not - they ruled the mandate as originally described as a function of the Commerce clause was unconstitutional, then in effect rewrote the law to make the mandate constitutional if it were constructed as a tax - thus presumably adding to the education of the former lecturer in constitutional law.....

[TurboZamboni]

I thought is was true, but it is not (for most):

Yes, the health law will impose a 3.8 percent tax on investment profits and other non-wage income starting in 2013. But that tax applies only to couples with adjusted gross income of $250,000 (or individuals with AGI of $200,000). About 95 percent of households make less than that, and will be exempt from the law no matter what. In addition, couples who sell a personal residence can exclude the first $500,000 in profit from tax ($250,000 for singles). That would be profit from a home sale, not proceeds. So a couple that bought a house for $100,000 and sold it for $599,000 would owe no tax, even under the health law.

http://www.forbes.com/sites/beltway/2012/04/02/there-is-no-obamacare-tax-on-most-home-sales-really/