Remember that Obama promise about not raising any taxes on those Americans who make below $250,000? Well, most of us already know he broke that promise his first week in office when the Obama sin taxes on alcohol, tobacco, firearms and ammunition were collected. Now we have another side effect of ObamaCare. How many knew that ObamaCare taxes home sales?
Remember, Nancy said we had to wait until it was passed to see what is in it. What is in it are more taxes which proves Obama to be the liar 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
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.