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.

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  • 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.

  • 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.

  • bg

    ++

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

    Updated: July 11, 2012

    date on GP article:

    Posted April 8, 2010

    ==

  • 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.

  • 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

  • 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

  • Militant conservative

    Damn , spike you mamma was more effed up than my
    Bi polar mom. That’s harsh.

  • #19 bg, Mark Levin talked about it on more than one of his shows, but I didn’t hear much of his discussion (working at the time his show was on). It may be in his archives for that time frame.

    In essence, the three true Conservatives plus Kennedy issued their “unsigned joint dissent” separately from Ginsburg’s dissent because they “dissented” on different issues, and they even dissented among themselves. That may be why they didn’t sign it. They all clearly saw it for what it is, an unconstitutional law on all bases, illegal tax law, Commerce Clause abuse, you name it. Ginsburg agreed with the majority that it was constitutional but only dissented on whether it was a tax as I recall, but her logic was so convoluted, I don’t blame the other dissenters for not wanting to sign onto or include ANYTHING she wrote.

    No one that I have found has actually addressed why the dissent was unsigned, possibly because it was written by only Kennedy and Scalia and may not have included a consensus of opinion, so the other two may not have agreed to sign it, but the “expert court watchers” focused on the fact that “the joint dissent doesn’t mention Roberts’ majority as a signal the conservatives no longer wished to engage in debate with him”.

    This quote from the minority says it all:

    The language in the dissent was sweeping, arguing the court was overreaching in the name of restraint and ignoring key structural protections in the Constitution. There are clear elements of Scalia – and then, there is Justice Kennedy.

    “The fragmentation of power produced by the structure of our government is central to liberty, and when we destroy it, we place liberty in peril,” the dissent said. “Today’s decision should have vindicated, should have taught, this truth; instead our judgment today has disregarded it.”

  • Limousine Barry

    What’s wrong?

    My back-breaking 0bamaTax is just a 3.8% tax on everything. In fact, if I am reelected I promise to extent this tax on every item you buy including food, medicine, gas and insurance!

    Just think of my 0bamaTax as a big California Redemption Tax (CRV) on the entire Nation. Then after the initial 3.8% CRV we add sales tax and State income tax and Federal Income Tax. The 3.8% then balloons to 38%! Such a deal!

    The net effect is the Taxpayer is double taxed. It’s a great way to bankrupt the few remaining Taxpayers!

    And, no I am not subject to the enormous 0bamaTax. Nor are my cronies who bought an 0bamaTax Waiver … which sucks but I don’t care.

    My ugly pig of a bus is belching fumes and David Axelrod has a new scam to inflict on my shriveling donors. I cannot give you any more information. I have to skin my donors for more money. My campaign may suck but once I bankrupt my donors it will suck worse. Good day.

  • Tim in Cali

    This is just the tip of the iceberg,thanks to Benedict Roberts

    1. Cable
    2. Phone
    3. Internet
    4. Electric
    5. Auto.. Ins..Maintenance/Parts..Tags and Title ,Registration
    6. The mileage you drive..(tampering with Odometer,crime,huge fine)
    7. Food ( in case you havn’t noticed already)
    8. Water -Sewage- Garbage
    9. Housing permits..want a pool (kiss his ring)..
    ……with a deck,you’ll need a second job
    10. Lawn care..the Environment..(bend over)
    11. Want to paint your house,sure…you’ll need Hazmat certification

    That’s Vol I..To many to list
    Every Mob boss,Godfather in the history of history is standing and cheering
    In California,if they get a meter attached to our face,they’ll tax blinking
    Notice,I never mentioned HEALTHCARE…

    Has it sunk in yet,we’ll end ObamaTAX…or he owns us
    Benedict Roberts will go down as most hated man to walk on American soil !!!

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  • Fuquay Steve

    Is it november yet? I can hardly when the statement – good riddance to bad rubbish – is indeed true and factual.

  • bigL

    what they are doing in calif which I think is the trial baloon for the country is to use eminent domain on just the mortgages. This is Calif atty gen Kamalah HArris and an outfit named something like Morgtgage Resolution corp. The mortgages are stripped from the property. The motgage holder is forced to take
    20% less. then the property is returned to the existing ‘ homeowner”with a smaller mortage. I guess that is the new value of the house. Then they pay on that.
    So the mortgages are then packaged into a security and sold off, just like before.
    Three depressed calif cities are the first for the plan.
    -Coming soon to your town.
    No FNMAE mtgs etc are involved only private ones! Whatever they are. Like a new tract with developer financing perhpas, or carry-back mortgage by prior owner,may be

  • This is only the start. Government is a beast with its own desire to survive that is greater than yours. It will feed off of us like a giant vampire bat, until there is nothing left BUT the government.

    My biggest fear, ending up like a battery in the Matrix. Living only to provide energy and funding to government, while my life and my kids’ lives end up drone-like. No hope, no dreams, just get up work, pay taxes have have nothing.

    Remember Obama last year talking about the new American dream? Small life, small house, limited opportunity- while he and his family jets around the world.

  • Truthsayer

    I am so tired of being told that just because I watch Fox News I am ignorant of political facts and world events. Now here I read Jim Hoft’s post telling me about the Obamacare Tax, and a few comments down I read this: http://factcheck.org/2012/04/realtors-the-3-8-sales-tax-and-247-medicare-premiums/ – I’m confused. Should I trust Factcheck.org or Jim Hoft? Is Jim Hoft a 1% with his own political agenda? When Jim Hoft writes: “Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply …” is “COULD” the word that relieves his conscious of any guilt that he lied to me?

  • bg

    ++

    Opaobie #22 July 15, 2012 at 2:09 am

    thank you so much..

    however, common sense tells me if something is not signed, no matter
    the reason, or how strongly worded, it might as well not exist, or simply
    put, it’s not worth the paper it’s written on, ergo, still sounds hoaxy to
    me..

    but then again, our judicial system is not
    exactly burdened by common sense.. 🙄

    anyways, thank you again, i truly appreciate your input..

    ==

  • The Elector of Saxony

    One of the Communists favorite phrases is “unearned income”. You’ll see it dating back to the 1930’s, when the Soviets were infiltrating our political, education, and entertainment systems. I remember that Martin Luther the King’s Highlander Folk School was really gone for the idea of 100% tax on unearned incomes back when King was a disciple there.

    The proper term for “unearned income” is “investment return”, and the virulence with which the Left hates the very idea of investment return is astonishing. No income is unearned. Investment return is a consequence of taking post-tax dollars, electing to invest those dollars as opposed to spending them, resulting in an investment income stream for the wise person who chose saving over consumption with his ALREADY TAXED DOLLARS. Of course, what goes hand-in-glove with investment return is the economic ripple effect of the investment itself, but let’s leave that to one side and pretend it isn’t there. The investment in the rent house, the bond, the debenture, the REIT, was made with dollars already taxed. Why must they be taxed again? To make the stupid feel better? Oh, that is it.

    Of course, between mass immigration, cultural failure, and Union teachers, it’s unsurprising that the electorate is incapable of understanding this basic economic principle. The public schools can barely turn out people who can read English, much less humans with a true understanding of economics. What passes for economic literacy is equivalent to what the stoned Occupiers were spewing. Of course, Baracky OpieDopie’s handlers are aware of this, so they aren’t concerned with any political backlash. The America that understood reality has been dead since the 1960’s.

  • bg

    ++

    eh, just for the educable of it..

    scroll up/down for much more..

    ==

  • Patty
  • Patty

    And those hit the hardest will be the Middle Class

    http://blog.heritage.org/wp-content/uploads/obamacaretaxes120702.jpg VIEW IMAGE

    http://www.heritage.org/research/reports/2011/01/~/media/Images/Reports/2011/01/wm3100_table1_600px.ashx?w=600&h=567&as=1 NOW, VIEW THIS IMAGE

    {,,,,,,,,,,,}This new tax system would tax all wage and salary income at one rate and provide for only minimal deductions, credits, and exemptions. Tax reform is not an excuse to raise taxes. The new tax code would raise the same amount of revenue as the current system but in a more efficient manner in order to enhance economic growth.

    http://www.heritage.org/research/reports/2011/01/obamacare-and-new-taxes-destroying-jobs-and-the-economy

  • The $64000 question is how do we get all of those citizens sitting on the sidelines to get off their collective duffs and vote this traitorus POTUS out of office? In addition, how can we get the existing RINOs out of office or get them to do what the people want? And the Obummer has the gall to tell Romney to release all of his tax records when that snake won’t release his college records or bonafide birth certificate, hypocritical bastard!

  • mcc
  • mcc

    Oh, and be sure to get to know David “The Red” Axelrod…see how Barry views him, highlighted below:

    “He is imager of the image and narrator of the narrative. No single person is more responsible for making Barack Obama president. Come November 2008, it was nothing short of a stunning change for America, a genuinely historical feat the man known as Ax hopes to repeat in November 2012.

    And it helps that the two—story-maker and story, composer and theme—think alike. “You know, he and I share a basic worldview,” Obama told the New York Times. “I trust his basic take on what the country should be and where we need to move toward—not just on specific policy but how politics should be able to draw on our best and not our worst.”

    [That’s right…and what’s that worldview…? Well, here’s a clue:]

    Don Rose and David Canter began to mentor Axelrod and this brought him to the attention of the Chicago Communist Party USA. While Rose’s involvement with CP-USA has not been established, Canter’s communist activities are well documented. His father served time in jail for radical communist activities and eventually became the secretary of the Boston Communist Party. He ran for Governor of Massachusetts on the Communist Party ticket in 1930.

    Harry Canter’s devotion to the communist party earned him an audience with Stalin in 1932 – he brought along his entire family, including his son, and future Axelrod mentor, David Canter. They stayed in Moscow until 1937, when they abruptly moved back to America, locating in Chicago and the CP-USA. Here Harry caught the attention of the Democratic controlled Congress in 1944.

    Harry’s grandson Evan says, “He was a Communist. He was involved in the Party, as was my father.” Evan’s father is of course the above mentioned Axelrod mentor, David Canter.

    http://floppingaces.net/2012/07/12/david-the-red-axelrods-communist-roots-reader-post/

  • mcc

    Remember, with Barry, every day is Opposite Day. Ever heard him say he’s fighting for the Middle Class? Well, read this…

    …another problem is going on very quietly in Flyover Country. The middle class in America seems to be disappearing, and there is no mystery as to why.

    Karl Marx hated the middle class, or the “bourgeoisie,” as he called them. His Communist Manifesto is nothing more than a rant about the evils of this group and how they have inflicted harm and damage to everyone around them through colonialism and ingenuity.
    […]
    Marx and Engels envisioned a return to the simpler time, where a vast lower class was ruled by its betters. Not surprisingly, they saw themselves as leading the underlings to the new paradise. The idea of “Communism” was a state where the Ruling Class would own all property in a society. The lower class would work for their uppers, allowed to use the property of the state. Since an immediate grab would be both hard and unpopular, there would be a transitionary state where the ruling class would gradually begin taking property under its yoke. This phase would be called “Socialism.”

    http://www.americanthinker.com/2010/09/the_disappearing_middle_class.html

    Now listen to this:

    http://archive.org/details/BarackObamasTotalDedicationToMarxism-OccidentalsDr.JohnDrew

    See how easy that was?

    One plus One equals Two.

    Tell me, are you feeling the Screw?

  • Fionnagh

    I rent an apartment. Can almost guarantee that 3.8% will be added to my rent, even if the entire apt. complex isn’t for sale. Yet.

  • Valerie

    The Forbes article admits that the tax is real, they just argue that only couples with combined incomes over 250K will pay.

    That’s not to say that there is no tax. This is a time bomb. It isn’t going to apply to many people right now, because housing prices have collapsed in so many areas and incomes are low due to the large numbers of people who are unemployed. But, the big plan is for the government to print lots and lots of money to get itself out of debt, and the predictable result will be inflation or an effective devaluation of our currency.

    Anybody who plans to sell a house in ten years, or to be working in ten years, or who will have children working in ten years, needs to be concerned.

  • Valerie

    #29 July 15, 2012 at 8:02 am
    Truthsayer commented:

    I am truly surprised that Forbes magazine could publish a tax article without considering the tax’s future impact.

  • bg

    ++

    re; Valerie #41 July 15, 2012 at 1:38 pm

    re: Truthsayer #29 July 15, 2012 at 8:02 am

    GOP Conference Blog : April 8, 2010

    ObamaCare Flatlines: ObamaCare Taxes Home
    Sales – Clobbers Middle-Class Americans

    Tax Policy Center : March 29, 2012

    Taxes, Health Reform, and the Supreme Court

    [In a new study, the Tax Policy Center finds that the new taxes would
    indeed hit very high-income households–some quite hard. Combined, in
    2013 the two new levies would raise taxes for households making between
    $500,000 and $1 million by an average of about $4,600 and boost taxes for
    those making at least $1 million by more than $41,000. These estimates
    are relative to current law, where the 2001/2003 tax cuts expire at the
    end of 2012.

    These taxes will hit incomes in excess of $250,000 for couples ($125,000
    for singles). But because that threshold is not indexed for inflation, the
    number of households facing these taxes will nearly double over the next
    decade, from 2.4 percent of all taxpayers in 2013 to 4.6 percent in 2022.

    Don’t forget about these tax provisions. Even if the Supreme Court
    leaves all them untouched, I suspect we have not heard the last of
    them.]

    Forbes : April 2, 2012

    There Is No Obamacare Tax On Most Home Sales. Really.

    [So the bottom line is this: If you are a married couple whose AGI
    exceeds $250,000, and if you make more than a $500,000 profit
    from the sale of your house, yes, you may owe this tax. But if you
    are anybody else, spend your time worrying about how you’re going
    to win the next $600 million lottery—or whether you are going to
    get bopped in the head by a stray asteroid on your way to work.]

    FactCheck : July 11, 2012

    Realtors, the 3.8% ‘Sales Tax’ and $247 Medicare Premiums

    as i previously noted, you figure it out..

    ==

  • bg

    ++

    re: #42 July 15, 2012 at 4:44 pm bg

    don’t know why or how it posted, i wasn’t finished..

    ie re: ObamaCare Flatlines: ObamaCare Taxes
    HomeSales – Clobbers Middle-Class Americans

    “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

    ==

  • bg

    ++

    re: #42 July 15, 2012 at 4:44 pm bg

    re: FactCheck

    [FULL ANSWER

    Two years ago, we gave the facts about a mythical 3.8 percent “sales
    tax” on homes, explaining that the vast majority of those who sell their
    homes won’t pay a dime. The tax will fall only on net investment income
    of a high-income few. Even for them, it’s not a “sales tax” on every dollar
    of the selling price of a home, but a tax on the profit. Furthermore, for a
    principal residence, only the amount of profit that exceeds $250,000 (or
    $500,000 in the case of a couple) will be taxed.

    And a year ago we also took on a completely fabricated claim that the
    new health care law would cause monthly Medicare premiums to more
    than double, to $247, in 2014. That’s not remotely close to the truth.
    Medicare officials currently predict the actual figure will be $112.10.
    (See page 229 of the recently released Medicare trustees report.)

    Now these two bogus claims have been spliced together in a version
    that continues to circulate with undiminished vehemence. But two lies
    don’t make a truth.]

    links & more @ link (imho not the most
    reliable source, but again, you decide)..

    ==

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  • obama’s racists

    George Clooney, Sara Parker, Hanks, all of these traitors who support all these taxes on the “WORKING PEOPLE” you make me sick!!! Traitors! 2013 new drug fees, 3.8% real estate fees, energy hikes $16 kilo watts to $347..wow what do we have left? Just like he said who needs two tvs..and get rid of that truck..these people are millioniares but they are shutting down our health care system! No more docter patient decision–now I gotta wait for a death panel to look at my records and my health and how many QL Quality of Life points my profile received! Do demo rats people not know anyone with cancer or aids, any diseases??? How old are they? Dear GOD cant they see what he has done?

  • ElfiePapini

    All we have left is CHANGE…..Sell everything stop paying TAXES. I want some of that OBAMA MONEY!!! Like the rest of his KLAN!

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  • JJH

    You guys are idiots! Did you get this crap on fox news?

  • Rod Franklin

    Doesn’t anybody research their info/myths. There is no 3.8% sales tax on housing this is a myth that has been debunked by the National Association of Realtors. Check snopes.com or factcheck.com. For all but a handful of taxpayers, this is not true. It is wrong. It is another urban myth. It is the revenue equivalent of death panels or the Halliburton conspiracy to start the Iraq war.
    Rod Franklin, ABR, CRS, ePro, SRES Realtor for 34 years!