13 May 2010

ObamaCare Federal 3.8% Real Estate Tax!

Beginning January 1, 2013, the legislative monstrosity that is ObamaCare imposes a 3.8% Medicare tax on unearned income over $250k, including the sale of single family homes, townhouses, co-ops, condominiums... even rental income. The fact that this hefty ObamaCare real estate tax was hidden from the public until it was passed -and by the most dubious means- is utterly appalling, but sadly may just be the tip of the iceburg as they slowly unwrap this POS... God knows what's in there.

The sale of a house, townhome, condominium, co-op, or income from a rental property can easily push middle-income families over the $250,000 threshold and slam them with a new tax they can’t afford. Any unbroken campaign promises left? I can't think of one- and a Pelosi "surprise" like a 3.8% ObamaCare real estate tax takes the cake... voters will surely sharing their feelings with Rasmussen in short order...

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 Obama tax on unearned income “destructive” and “ill-advised” and warned it would hurt job creation. 

Although San Fran Nan made getting to "find out what's in it" sound like Christmas morning, in the coming days and weeks we'll be seeing just what these power-drunk fiends snuck through while breaking all previous pledges of openness and clarity. Hard to imagine the public not going nuts over this one... and in the middle of a ghastly real estate depression, good grief.

Why anyone would vote for the Democrats in November after this stunt is beyond me...IMO  they're going to get disemboweled- and never, ever trusted with the purse-strings again.  Small wonder the rats are already hitting the plank-