Now We Know… Obamacare Includes 3.8% Tax On Home Sales For All Americans …Update: Maybe Not

“We Have to Pass the Bill So That You Can Find Out What Is In It”

Remember that line by Speaker Pelosi… It will come back to haunt you repeatedly in the days ahead.

Now that it’s been a few weeks since Democrats rammed Obamacare through Congress we are getting a glimpse of what we can expect. Not only does the law initiate the first federal sales tax in the United States (on tanning) but it also taxes all Americans (and illegals) 3.8% when they sell their home.
The Spokesman Review reported:

In the days leading up to the dramatic late-night vote on President Barack Obama’s health plan, Speaker Nancy Pelosi said, “We have to pass the bill so that you can find out what is in it …” Now that ObamaCare has passed, it is slowly dawning on people what the new law means for the country and for Washington state.

ObamaCare sweeps away a host of state regulations and permanently alters our state’s insurance market. From now on, the federal government will manage the health care of all Washingtonians. The 2,700-page law contains a complex web of mandates, directives, price controls, tax increases and subsidies.

Tax on tanning. Imposes a 10 percent tax on services at tanning salons. Business owners will collect the tax from customers and send it to the federal government. This appears to be the first federal sales tax in the United States.

The new law falls well short of universal coverage. ObamaCare will leave about 6 percent of Washington residents without coverage. The measure is conservatively expected to cost $2.4 trillion in its first full decade. Thousands of older Washingtonians will lose their Medicare Advantage coverage, and the state’s 120,000 Health Savings Account holders may need to buy new policies or face stiff penalties.

Washington residents will begin paying ObamaCare taxes this year, while most benefits don’t start until 2014. The law includes some 19 new taxes. Here’s a rundown of what Washingtonians can expect in the coming years.

Penalties on individuals. Individuals will pay a yearly penalty of $695, or up to 2.5 percent of their annual income, if they cannot show they have purchased a government-approved health policy.

Penalties on families. Families will pay a yearly penalty of $347 per child, up to $2,250 per family, if parents cannot show they have purchased a government- approved policy…

Tax on Home Sales. Imposes a 3.8 percent tax on home sales and other real estate transactions. Middle-income people must pay the full tax even if they are “rich” for only one day – the day they sell their house and buy a new one.

Remember that promise by Barack Obama that any Americans making less than $250,000 per year will not see their taxes increase?
You can forget it. It was another empty promise. Just words.

UPDATE: Snopes says not all home sellers will have to pay the 3.8% sales tax.

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  • NeoKong

    If you sell a home worth $300,000 it could cost you almost $12,000.
    That’s not $12,000 on $300,000 profit…..?
    It’s $12,000 regardless of what you made…..?
    Gee….I could sure have sure bought a lot of health care with that money.

  • WW

    The tax a on tanning is as racist as they come. Obama ain’t gonna tan anytime soon! They finally get to tax us white folks onsomething. I tell you it’s racism straight up!

  • bill-tb

    Reparations …

  • Palinfan

    Never mind all the analyzing of this bill. There is one thing you have to remember. Keep the heat on ALL the candidates for November to put in WRITING that they are going to work to REPEAL Obamacare.

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  • squeaky

    in another part of the world =[SEOUL, South Korea — North Korea executed a former senior official last week as punishment for the country’s botched currency reform, a news report said Thursday…….]our legislatures are
    lucky we aren’t as draconian. gross incompetence when failure is hoisted onto the back of joe america.

  • Scott

    In the midst of the worst housing crisis in history, the Feds want a piece of the action….Stupidity beyond all comprehension.

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  • jomojava

    The real GREED in this country eminates from Washington DC.

    There is no other alternative for this load of buffalo bagels than to R-E-P-E-A-L it.

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  • Scott

    So, homeowners who now support the school operating budgets in most districts will now have to support “affordable” healtcare for all…

  • Scott

    The only difference between the US and Greece is that we are a lot bigger and there is not enough money in the world to bail us out…

  • Dr. Hackenbush

    Don’t pay it ! Screw them !

  • squeaky

    those cheering on obama’s policies are those who don’t have any skin in the game. when you
    run out of folks in the $250,000 rank you move down until you have nowhere else to go.
    when people who’ve contributed nothing to
    society but expect to share the fruits of someone elses labor. all the glory without the
    sweat and labor.

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  • olm

    I’m sorry, I’m having a tough time with this little gem.
    I do not intend to move again, until they carry me out but a 3.8% tax on home sales? Where are the realators on this?
    The economy can’t survive the Democrats.

  • toddro

    The bill says this new tax falls only on that portion of any gain that is “taken into account in computing taxable income” under the existing tax code. The fact is, the first $250,000 in profit on the sale of a primary residence (or $500,000 in the case of a married couple) is excluded from taxable income already. (That exclusion doesn’t apply to vacation homes or rental properties.) The vast majority of real estate transactions will be exempt from this tax – just in case you wanted to check the facts…

  • Reaganite Republican
  • Jerry C

    I recently turned 40 and was brought up to believe owning a home was a goal in life. Now, I’m starting to question that assumption. It was my understanding as well that the Revenue Code was only to tax “profit”. Our government is beyond corrupt; it is treasonous.