Posted on 09/25/2010 8:54:04 PM PDT by NavyCanDo
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
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income, including the sale of single family homes, townhouses, co-ops, condominiums, and even rental income.
In February 2010, 5.02 million homes were sold, according to the National Association of Realtors. On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property can push middle-income families over the $250,000 threshold and slam them with a new tax they cant 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.
The actual crash could be at any time. When it happens a lot of Americans will become paper millionaires. This means that although they are no richer in real terms, nevertheless they will end up paying both this profit tax and a whole slew of other high-end taxes.
This is yet another reason why that woman needs to take that gavel and shove it...
...right into John Boehner’s hands.
People are as angry as I’ve ever seen them. The Democrats are circling the drain.
If the Republicans blow this opportunity, there will be no more debates about joining a third party - the Republicans will BE the third party.
like I warned .
push poll
After her “shove it” walk with the giant gavel,
Nanzi really deserves to have that thing
_literally_ and actually shoved
where the sun don’t shine.
Posting that is not a problem... Read the article. It even tells in the headline that it was a screwy sample. What is wrong with posting that?
The Dark Side of the Moon? LOL...
See posts 100, 102, 112: Apparently, there is a real estate capital gains threshhold of $500,000 for married, filing jointly. And, if these other posts are correct, that protection is still in place. I believe it applies to a primary residence only. The tax laws are pretty convoluted.
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