That falls under #4 above, investment income. There is a increase in the capital gains tax rate and capital gains will also be subject to Medicare taxes (the entire 3.8% contribution). House sales already subject to capital gains will be subject to the new tax increases.
It should not be an issue for most, as the capital gain (profit) on the sale of the home has to be greater than $500,000 for a married couple filing jointly. Given the state of the real-estate market, very few will be impacted by this.
However, this could have a huge impact on investments in stocks, mutual funds, and other equities. Also, the Medicare tax is now paid on rental income. Plenty of middle income people earn money on rental income.
The good news is this is a tax, and can be repealed by a simple majority in the House, and 51 votes in the Senate, and as a tax/budget item, repeal cannot be subjected to filibuster in the Senate.
We need at least 50 Republican Senators and a Republican President and Vice President, and we can make all of this go away.
With romney’s faltering campaign (look above this thread for an article on big money donors losing confidence in candidate question mark) where are we going to get all of these Conservative republicans? With every passing day... this election slides more towards obama. Look at the polls... look at the trends and listen to the big money donors as they say the same things that I do. This nightmare is going down just like many of us here predicted... and we have been attacked for telling the truth. romney had better get a huge injection of signed Conservative pledges and a set of titanium balls... because IF he wants to win... HE IS GOING TO HAVE TO BEAT obama LIKE A BASS DRUM!
I kind of like the email going around that says if you sell a $100,000 house, you’ll have to pay $3,800 to the IRS under Obamacare (snicker). I think we should let the math-challenged libs explain this until after the election.
The key word here is VOTES, not just the number of Republicans. We need at least 55 in the Senate to overcome the friggin RINOS.
Call me pessimistic but I've seen this template before.