Starting in 2013 the government will activate a 3.8% Medicare Tax on "unearned income", including the sale of your home and even rental income.

When you sell your home under this provision in the Obamacare Bill, you can easily go over the $250,000 threshold and get slammed with this tax.

This precedent setting scheme of taxing "unearned income" and other Medicare Taxes which targets the Middle Class extensively, notably retired people looking to downsize their home is expected to raise $210 Billion Dollars to help pay for Obamacare.

It also exposes President Obama, again, for the liar that he is.

“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

http://www.gop.gov/blog/10/04/08/oba...are-taxes-home

someone has to pay for all the people who want to sit on their butts and live off the rest of us

Again a gross misrepresentation of the facts by a G.O.P. website. This according to Snopes and Factcheck.....The first $250,000 in profit from the sale of a personnal residence will not be taxed or the first $500,000 in the case of a married couple. In other words a couple who sold their home would only be subject to the 3.8% tax if they made a profit of at least $500,000 and the tax would only apply to the portion of that profit in excess of $500,000. This is quite a bit different than the claims made by the original post.

Originally Posted by waynet

Again a gross misrepresentation of the facts by a G.O.P. website. This according to Snopes and Factcheck.....The first $250,000 in profit from the sale of a personnal residence will not be taxed or the first $500,000 in the case of a married couple. In other words a couple who sold their home would only be subject to the 3.8% tax if they made a profit of at least $500,000 and the tax would only apply to the portion of that profit in excess of $500,000. This is quite a bit different than the claims made by the original post.

If you have the link you stated for the liberal apologist site Snopes; at least link it.

Here's a link to a story in Business Week that seems to back the basis of the original link. I'll have to find out more on home sales exemptions if any. I don't trust Snopes.

http://www.businessweek.com/news/201...ed-income.html

Go to google and type in 3.8% tax and both Snopes and Factcheck are listed.

OK; it seems waynet is correct according to Money Talks. I don't put my faith in Snopes, but it appears that the original site didn't give the whole story. I jumped the gun on the home sale aspect on this, and, in retrospect, I should have checked the original links contentions myself.

It doesn't make Obama any less of a liar on the addition of "unearned income" from other sources as being a "new tax" on the middle class.

http://www.moneytalksnews.com/2010/0...ell-your-home/

There is no such thing as "free health care". Citizens will still pay for health care, one way or another.

In Canada we have socialized medicine with access for all. But of course, it isn't free. It is funded by much higher taxes.

And, once again, the argument ignores the core issue.

That core issue is WHY DO WE PAY MORE AND GET LESS THAN ANY OTHER INDUSTRIALIZED NATION?

Here we are trying to figure out how to "pay for" adding all the uninsured to the 'health care tab' and paying roughly $5700 per capita for it. Meanwhile, other countries "get by" on $2900 - $3700 per capita and provide systems where everyone has access and gets better care on the whole.

And here's another bit - about the Obama "promise" - and taking what the OP said at face value.

Obama's 'promise' was concerning people who make less than $250,000 per year. Now, if you sold your house and profited by more than that then, well, you DID earn more than that - and that's assuming you didn't turn around and put that money into another house LIKE MOST PEOPLE WHO NEED A PLACE TO LIVE. It's just like holding on to stocks that appreciate over time. HOWEVER - you CAN do something called "income averaging" that will CERTAINLY lower your tax hit.

Think about it - complaining that Obama promised no tax hike for those making under $250,000 because when they 'make' over $250,000 they'd (allegedly) be hit with this tax hike.

There's no *practical* (or idealogical) difference between the middle-class wage-earner making a salary of $60,000/year who, one year, gets a 6-figure boost from the sale of a home and the CEO who has a "salary" of $1/year and takes his compensation in stock options to circumvent FICA and other taxes on 'regular' income. It's just a matter of scale.

...oh - and one other thing. That home sale profit? Of course you know that all the money you put into that house counts as cost. Like, buying a house for $200,000 and put a new $10,000 roof on it and sell for $210,000 your profit is ZERO. Keep your receipts!

not supported by the majority of Americans, continuing?

Why is it not obvious the new forced/rammed/secret back deal health care reform is not about the health care of we the people.

Let's keep it really, REALLY simple....why has there been absolutely NO actions taken by this administration to STOP THE KNOWN abuses and by whom of Medicare frauds and abusive billing? Read what I said again....keep it simple.....STOP the KNOWN abuse.

There is not one good reason or excuse.....NONE. Do I smell special interest involvement? But of course. And before all the partisan police get their stomping key board in an uproar....of course the known abuses have been ongoing and has little or nothing to do with party except for may be a little more or less with one or the other.....that is not significantly measureable.

btk