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Hidden Real Estate Sales tax in Health care bill – Surprise!There are already at least 20 hidden taxes in the Obama Health care plan coming down upon us the next few years. So, along with rationed care for seniors and forced health insurance, we now find there is a Real Estate Tax snuck into the Health care plan. You may ask, what in God’s green earth does health care have to do with Real Estate taxes??? Absolutely nothing, that is precisely why one got snuck in there. There has never been any rhyme or reason to this administration other than redistribution of wealth, socialism and inserting cradle-to-grave control. Using Health care as an excuse for seizing control of accounts and businesses is just one strategy. Obama has also planned all along to use the ‘environment’ i.e. Cap and Trade to take even more. This will do more than take. It will flatten American business and destroy our sick economy. Who cares what the American people think and what the constitution says! We are just in the way…..take, take, take.
Starting in 2013, not only will you pay the closing costs and real estate fee when you sell your house but now you will pay a 3.8% Sales Tax. So, if you sell your home for $400,000, perhaps wanting to down size if you are a senior you will pay $15,200 in Tax.
Rumors are circulating on the net about a 3.8% federal sales tax on real estate transactions as part of the Obama health care bill.
The new tax is a 3.8% medicare tax on certain types of unearned income and will apply to certain types of real estate transactions. For example, if someone has to pay capital gains on a sale of real estate, this will be an extra 3.8% tax. For a primary residence, this would be after the first $250k of gain ($500k) for married couple.
For a second home or investment property, there is no $250/$500k capital gains exclusion. Also, the Obama Health Care Plan Real Estate Sales Tax only applies if the taxpayer(s) total income exceeds $200k.
Another interesting point, the capital gains tax is now 15%. In 2011, the capital gains tax will go up to 20%. In 2013, with this Medicare tax, the total will be 23.8% for some real estate sellers. This is a big change. 15% now to possibly 23.8% on some real estate sales transactions in 2013
Other special taxes and fees: Investment income: Anyone making $200,000 or over gets to pay 3.8% of their annual investment income. Start adding up them apples, folks. If you have a fancy health care plan and pay as an individual, $10,200 or $27,800 for a family, you get to pay a 40% annual tax on those health care plans. Medical aid devices have gotten hit hard as well. They will see a 2.9% tax hike. Sorry if you have an artificial limb….you are screwed. Medicare gets more money because if you earn $200,000 or more you pay a special Medicare tax of 3.9.% Then there is the 10% tax on tanning….on and on. Perhaps you should consider an ‘Albino’ beauty treatment.