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True?
Topic Started: Dec 20 2011, 08:39 PM (209 Views)
Jolly
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Geaux Tigers!
Quote:
 
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time.
The main obstacle to a stable and just world order is the United States.- George Soros
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Mikhailoh
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If you want trouble, find yourself a redhead
Another AMT.
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball
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Jolly
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Geaux Tigers!
Remember, their definition of "rich" is anybody making over $250K.

Also, they are going to increase the percentage floor to deduct for medical expenses. It's going from 7.5% to 10%.

Lastly, they also are cutting the flexs from 5K to 2.5K.

Wonderful folks, these Obamas.
The main obstacle to a stable and just world order is the United States.- George Soros
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Axtremus
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HOLY CARP!!!
I kept telling you guys ... just go to single-payer universal healthcare and be done with it.

But if you're to "report" something like this, at least try to quote a source that is less sloppy and cite the source.

The Joint Committee on Taxation describes it thus:

Quote:
 
Broaden Medicare Hospital Insurance Tax Base
for High-Income Taxpayers - additional HI tax of
of 0.9% on earned income in excess of $200,000/$250,000 (unindexed) [1], and Unearned Income Medicare Contribution on 3.8% on investment income for taxpayers with AGI in excess of $200,000/$250,000 (unindexed)


And if you want to see what other additional taxes and additional revenue sources would be introduced when due to the Affordable Care Act, here's the whole list published by the Joint Taxation Committee: PDF File download.
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George K
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Finally
Axtremus
Dec 21 2011, 05:10 AM
But if you're to "report" something like this, at least try to quote a source that is less sloppy and cite the source.
Here's the source.

http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home

Quote:
 
“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 of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time.

In February 2010, 5.02 million homes were sold, according to the National Association of Realtors (NAR). On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property could slam middle-income families 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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Axtremus
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HOLY CARP!!!
Thank you, George.
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ivorythumper
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I am so adjective that I verb nouns!
Axtremus
Dec 21 2011, 05:10 AM
I kept telling you guys ... just go to single-payer universal healthcare and be done with it.

How would a single payer universal healthcare system necessarily negate the tax that is the topic of this thread?
The dogma lives loudly within me.
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Jolly
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Geaux Tigers!
Nope.

It would probably increase it.
The main obstacle to a stable and just world order is the United States.- George Soros
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Steve Miller
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Bull-Carp
George K
Dec 21 2011, 06:45 AM
On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property could slam middle-income families with a new tax they can’t afford.
Not likely.

There's a $500K exemption on profit from sale of a primary residences for couples and no tax at all if you roll it in to another home.
Edited by Steve Miller, Dec 21 2011, 08:05 PM.
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