Personally, I can’t wait to see how the real estate transaction surcharge bolsters the housing market.
That falls under #4 above, investment income. There is a increase in the capital gains tax rate and capital gains will also be subject to Medicare taxes (the entire 3.8% contribution). House sales already subject to capital gains will be subject to the new tax increases.
Settling the Question of a Real Estate Tax in Obamacare
New 3.8% Medicare Tax on "Unearned" Net Investment Income [PDF Download]
It should not be an issue for most, as the capital gain (profit) on the sale of the home has to be greater than $500,000 for a married couple filing jointly. Given the state of the real-estate market, very few will be impacted by this.
However, this could have a huge impact on investments in stocks, mutual funds, and other equities. Also, the Medicare tax is now paid on rental income. Plenty of middle income people earn money on rental income.
The good news is this is a tax, and can be repealed by a simple majority in the House, and 51 votes in the Senate, and as a tax/budget item, repeal cannot be subjected to filibuster in the Senate.
We need at least 50 Republican Senators and a Republican President and Vice President, and we can make all of this go away.
Just prepare for the economic collapse that’s coming, sooner rather than later, because of this law and the oppressive debt that they have intentionally saddled the country with.