Posted on 11/15/2013 7:17:28 AM PST by IbJensen
Just a suggestion… Maybe next time we should read it to find out what’s in it. Would that be too much to ask? Maybe it would be considering the length of the legislation but this is getting silly.
Last Friday I reported that The Obama Administration was letting labor unions off the hook on a $25 billion Obamacare Tax that was supposed to reimburse insurance companies for the losses incurred by accepting preexisting conditions. Thanks to Obama that money will now come directly from taxpayers’ pockets in the form of higher premiums. You don’t expect the insurance companies to lose money, do you?
Well, it appears that we are not done learning about new taxes that stem from The Un-Affordable Care Act (aka Obamacare).
Ronica Cleary reports:
The Affordable Care Act or Obamacare seems to be in the headlines every day because of all of the problems surrounding the launch. And while most realize the law is funded in part by the individual mandate and penalty tax, it is also being funded in ways that are not discussed as much in the media.
Luxury real estate broker Ron Aioso says there is a tax that is rarely discussed that also helps fund Obamacare. It is a tax on high-income taxpayers when they sell their homes.
Franklin Lakes, N.J. was listed on Forbes.com in 2010 as one of “America’s Most Expensive ZIP Codes”, with a median home price of $1.3M.
Aioso says homeowners in a neighborhood like this could really be impacted by the Obamacare tax.
“Where we are today in a luxury area, you look and you see this home behind me, somebody like this is really affected,” he said.
If you are single with an adjusted gross income of $200,000 or file jointly with an income of $250,000 or more, you may be impacted. Once you sell your home, any profits over the first $500,000 are already subject to a capital gains tax. And now those profits will have an additional 3.8% tax to fund Obamacare.
A lot of people are probably thinking that this doesn’t effect them. Most of us will not make $500,000 or more profit on our home sales and most of us do not earn $200,000 or $250,000 per year. This is not the point.
Where I live you can live very well for this kind of money. But in certain areas of the country this income makes you somewhat middle class. Houses that cost $250,000 here will sell for $2.5 million or more in certain areas of the country.
To a lot of us this sounds like just another tax on wealthy people that they can afford but that is not at all the case. There are places in this country where $250,000 for a married couple with a few kids is nothing special. This is a tax on the middle class as well.
It boils down to the old socialism vs. capitalism debate. The frightening thing is that a lot of conservatives are starting to think like socialists and they do not even realize it. I hear a lot of conservatives say things like, “they can afford it” when you speak of wealthy people paying more taxes.
The bottom line is that there has to be incentive to earn. That is what stimulates production and drives a capitalist economy. When you take the incentive for wealth away then you are drifting further and further into a socialist state.
Socialist states are about slavery and oppression. I am not sure that people in this country understand that they are asking to be enslaved but they are. You can make that decision for yourself. Knock yourself out.
But you can not make that decision for my children.
The American people must find a way to stop Obamacare before it’s too late.
Some think it’s too late already. I obviously don’t think that or I wouldn’t keep doing this every day. But I can understand the frustration and where those thoughts come from.
What do you think?
This cancer in the White Hut is killing America and us at an alarming rate; however, what is most alarming is that no one in the insipid Congress is doing a damned thing about excising this evil growth.
It’s only a few per cent.
Do it “for the children”
I think the time is now right for complete REPEAL of Obamacare. Don’t bandaud it or replace it with a plan drawn up in haste. REPEAL it!
Very well said.
It’s always been clear that Obama wanted to tax America’s middle class and wealthy at European Socialist State levels. He couldn’t get away with simply proposing such taxes, so he hid them in a 2,500 page “pass it to see what’s in it” monstrosity.
I consider the massive premiums that the productive class must now pay to fund birth-control-addicition-counseling-sex-change-operations for all the moochers etc to also be taxes. The Democrats have managed to turn health insurance companies into full-time tax collectors.
The housing tax is actually old news and was known about back in 2010 and reported by the Heritage Foundation but like everything else, no one pays attention until it’s a reality and the it sinks in.
“Taxation without representation is tyranny.”
“When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, ......”
“Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, Give me Liberty, or give me Death!”
ARE YOU HAPPY, JUSTICE ROBERTS??!!
THIS IS Y*O*U*R LEGACY.
Franklin Lakes is affluent, but there are many areas of New Jersey - including where I grew up, where earning a $500K gain on a house sale is not fantasy.
Especially when you consider most of the homes were bought in the 1960’s for $30K. This would not be strange. These houses could easily sell for $500,000-$600,000 now. And they are not mansions. They’re maybe 2,500 sq. feet at most in “blue collar” neighborhoods. But the gains are BUILT IN.
And again, there is no limit on the gain if the house you’re selling is a second home. Many people here have homes down the shore that are equally as modest. Bought when the market was nascent and cheap. All these gains are built in.
I have lots of winemaking friends out in Napa. Family farmers that have owned vineyard land for generations. The money is NOT in the winemaking, but in the LAND. Some of that land is worth MILLIONS. If they ever sell that, they’re going to get reamed.
Now yes, they’ll have the money to pay the tax, but it’s still not right.
No. It’s never right.
If only we could imprison all the leftist loons in the nation along with the perverts and move the clock back to 1912, then start anew from there I would be happy.
Justice Roberts and Cupcake Obama belong in the same cell for the rest of their lives.
We could throw Nancy in for Roberts and a homosexual with aids for Cupcake.
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