Thanks Barack… Obamacare Will Add 3.8% Medicare Tax on Sales of Homes, Condos, Townhouses and Rentals (Updated)

President Obama, September 12, 2008 —

“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.”

Obamacare will add a 3.8% Medicare tax on the sale of homes, condos, townhouses and rental property.
The GOP Conference Blog reported:

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.

In February 2010, 5.02 million homes were sold, according to the National Association of Realtors (NAR). On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property could slam middle-income families with a new tax they can’t afford.

This new ObamaCare tax is the first time the government will apply a 3.8 percent tax on unearned income. This new tax on home sales and unearned income and other Medicare taxes raise taxes more than $210 billion to pay for ObamaCare. The National Association of Realtors called this new Medicare tax on unearned income “destructive” and “ill-advised” and warned it would hurt job creation.

Obamacare – It’s a tax.

UPDATE: Forbes says there is no Obamacare tax on home sales.

 

  • Redwine

    ObamaTax.

    Say it. Thanks what it is. It never had anything to do with healthcare. It’s the power to tax and tax and tax from conception (if the fetus survives) to death.

    Overturn the damn thing and set us free.

  • Redwine

    That’s – not “Thanks” (I started to write, “Thanks, Comrade Barry.)

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  • Indiana

    Jim Jones, Charlie Manson, Barack Obama……Cult leaders all!

  • Robert

    The GOP better step it up big-time and right now. If they blow this election I’m going third party for the rest of my life.

  • Macc

    this POS is a God Damned LIAR!

  • I’m not a racist; I don’t like Biden or Pelosi either

    Don’t worry, be happy! It’ll only apply to the very rich (at least that’s how they’ll sell it).

    More class warfare.

    Time for the Leaders of Industry to pull a John Galt methinks.

  • http://aifdemocracy.org/ bg
  • Multitude

    Has anyone considered confronting these tax scammers who are trying to make President Obama into a liar?

    He was very clear: “I haven’t imposed a single tax! There are no taxes!” Congress needs to send the IRS a letter reminding them that, in spite of their eagerness to bend citizens over for new abuse, Obama said there are no taxes.

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  • Flintstone F.

    This sounds like a big can of worms. Maybe I’m off but a back door to eminent domain? If you can tax unearned income why not a one time 100% tax on my property and force me into foreclosure for the greater good? Rental property in the way? No worry, just tax it away.

    I really don’t know. I’m just very suspicious when the government gets into something new. There’s usually an ulterior motive.

    Earned, unearned, none of it belongs to the government. This kind of crap is just helping to cement the progressive tax system into place.

  • http://aifdemocracy.org/ bg

    ++

    re: #8 July 15, 2012 at 12:42 am bg

    Updated: July 11, 2012

    date on GP article:

    Posted April 8, 2010

    ==

  • http://www.opaobie.com/ Opaobie

    For those of you with short memories and Ratsderriere, who is just a provocateur who has demonstrated a complete lack of reading comprehension,

    We are ALL Dred Scott now.

    This is Dred Scott II, we are now the “property” of the federal government because it can ORDER us to purchase anything it wants against our will or “tax” us if we refuse. It can tax everything we do…or don’t do…and every penny that passes through our fingers, even before we receive it.

    “No thanks, I don’t wish to purchase that pack of gum”.
    “No problem, the tax on that refusal will be $2.49″.

    John Roberts will become the most hated man in American history over the coming decades if Obamacare isn’t repealed. He may be the most hated man in America right now.

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  • conservative cookie

    It is a tax, and Redwine is correct about it not having anything to do with healthcare. This is a means to create a entity wherein the abilty to control citizens lives through rationed healthcare and citizens property through taxes will be under the complete control of the government. This is exactly what he meant about one not being able to be successful without the government having input on how much, and to what degree. This is the fault of a lazy and corrupt Congress and one which will be non-functioning once these other entities are brought into existence.

  • http://reaganiterepublicanresistance.blogspot.ca Reaganite Republican

    Get your hand out my pocket, lib trash

  • Militant conservative

    AND not only a 3.8% tax your house must meet the current
    Energy efficiency standards.
    The homeowner MUST update
    windows, insulation etc to even sell. OH yhea, been loving telling the black community about this. They
    HATE this one. LOL chumps.
    I’m getting converts from any
    Sector. 1% parole tax when your check gets deposited.
    1% anytime money is extracted. Let’s not forget
    7% higher at the end of the year tax. Hubba hubba close to a 10% hike. Bend over,
    You got screwed by a scrawny
    Black dude.

    Whose bitch are you now??!!

    This is my sales pitch. You have one slim chance to repeal. After that WE are ALL
    Slaves. It gets their attention.
    Some don’t care. Shocking.
    That some free men do not
    Care. Unworthy of freedom
    and unthankful for the sacrifices made, truly
    an unthankful slave.
    I wish to have you as an equal, you wish to enslave us both. Good GOD what a pathetic human I am surrounded with.
    Blacks are not worthy of the
    Freedoms of America. They so
    Easily give freedom away. For
    A little “security”. They have not learned. 100 years and they are still dull. Sad, tools
    Of the left. Yet they still do not see who is their master and who is their liberator.
    I find it humorous and ironic
    That we that fought to free
    Slaves should be enslaved by
    Those we freed.

    Powder is dry

  • http://aifdemocracy.org/ bg

    ++

    Opaobie #14 July 15, 2012 at 1:00 am

    could you possibly explain this (#40 ) for me..

    thanks in advance..

    ==

  • spike

    Why beat around the bush.Just take everyihing we have,like my momma used to say”LOUSED BOUND SON OF A BITCHING BASTARD’1