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ObamaCare Taxes Home Sales, Clobbers Middle-Class Americans

Original post made by Pleasanton Mom, Birdland, on Apr 9, 2010

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.


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


April 08, 2010


"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 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.

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Comments (1)

 +   Like this comment
Posted by independent
a resident of San Ramon
on Apr 13, 2010 at 3:15 pm

independent is a registered user.

It is amazing how few TV, radio or newspapers are even discussing how the so-called health care bill will be paid for? Obama/Pelosi/Reid must be thinking that most tax payers are dumb to find this out.


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