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post #1 of 22 (permalink) Old 07-13-2012, 03:14 PM Thread Starter
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Obummercare

ObamaCare Flatlines: ObamaCare Taxes Home Sales - Clobbers Middle-Class Americans - Blog - GOP.gov

Just some more great news. No no folks, don't bother listening to what you hear. Carry on folks, nothing worth listening to.
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post #2 of 22 (permalink) Old 07-13-2012, 05:35 PM
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Re: Obummercare

Quote:
......imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers

......depending on your individual circumstances and any capital gains tax exclusions.
The headline (Clobbers Middle-Class Americans) is absolutely false and misleading, proven by what's actually in the article.

But then again, it's put out by the liars from the GOP...so it's not exactly a surprise.



I'll bet you and whitjo believe it though.


.

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
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post #3 of 22 (permalink) Old 07-13-2012, 06:01 PM
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Re: Obummercare

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Originally Posted by AK Gandy View Post
The headline (Clobbers Middle-Class Americans) is absolutely false and misleading, proven by what's actually in the article.

But then again, it's put out by the liars from the GOP...so it's not exactly a surprise.



I'll bet you and whitjo believe it though.


.
.....No, I don't believe Obummacare is a tax....Obumma himself said it wasn't...so it has to be true...right?
I don't care what the Supreme Court says.......

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post #4 of 22 (permalink) Old 07-13-2012, 07:20 PM Thread Starter
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Re: Obummercare

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Originally Posted by whitjo View Post
.....No, I don't believe Obummacare is a tax....Obumma himself said it wasn't...so it has to be true...right?
I don't care what the Supreme Court says.......
x2! Talk about not listening??? If they say it is a tax, right from our own judicial system, by golly it must be a payment in kind from our good hearts...
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post #5 of 22 (permalink) Old 07-14-2012, 02:15 AM
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Re: Obummercare

I tell ya, it's not a tax.. Ok, maybe just a little bit tax..
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post #6 of 22 (permalink) Old 07-14-2012, 03:34 AM
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Re: Obummercare

Quote:
Originally Posted by AK Gandy View Post
The headline (Clobbers Middle-Class Americans) is absolutely false and misleading, proven by what's actually in the article.

But then again, it's put out by the liars from the GOP...so it's not exactly a surprise.



I'll bet you and whitjo believe it though.


.
It is 3.8% on any home sale that isn't your primary residence and you are only exempt if it has been your primary residence for 2 yrs. This tax doesn't just effect high income earners. It effects every person that builds and sells homes, it effects everyone that flips homes to make extra money. The only good thing from it is it is only 3.8% on the profit not the value of the sale. Considering that 99% of my money comes from what will be considered "profit" this will cost me thousands of dollars a year. Not to mention it should really help out home sales in the future, because the housing market is really booming now.

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Ronald Reagan
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post #7 of 22 (permalink) Old 07-14-2012, 03:54 AM
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Re: Obummercare

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Originally Posted by ducatirider944 View Post
It is 3.8% on any home sale that isn't your primary residence and you are only exempt if it has been your primary residence for 2 yrs. This tax doesn't just effect high income earners.
Yeah, like there are a plethora of "middle-class" folks that have second homes.



Quote:
Originally Posted by ducatirider944 View Post
It effects every person that builds and sells homes, it effects everyone that flips homes to make extra money. The only good thing from it is it is only 3.8% on the profit not the value of the sale. Considering that 99% of my money comes from what will be considered "profit" this will cost me thousands of dollars a year. Not to mention it should really help out home sales in the future, because the housing market is really booming now.
Prove where it affects builders...and not just homeowners selling other than their primary residence (or primary residence if they don't qualify for the capital gains credit).

I'll wait.


.

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
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post #8 of 22 (permalink) Old 07-14-2012, 10:59 AM
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Re: Obummercare

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Originally Posted by AK Gandy View Post
Yeah, like there are a plethora of "middle-class" folks that have second homes.


.
I own 4 homes........and this may surprise you........I don't like it either....

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post #9 of 22 (permalink) Old 07-14-2012, 11:32 AM
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Re: Obummercare

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Originally Posted by AK Gandy View Post
Yeah, like there are a plethora of "middle-class" folks that have second homes.



Prove where it affects builders...and not just homeowners selling other than their primary residence (or primary residence if they don't qualify for the capital gains credit).

I'll wait.


.
Many middle class Americans own two homes Rick. Having a regular residence and a lake home for example is very very common

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post #10 of 22 (permalink) Old 07-17-2012, 04:25 AM
Yeah, it's like that
 
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Re: Obummercare

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Originally Posted by AK Gandy View Post
Yeah, like there are a plethora of "middle-class" folks that have second homes.

I have 3 homes right now and not one of them is my primary home. One is a custom built for a customer and two are spec homes. There will be profit on all three houses, because I'm a general contractor and that is my income.



Prove where it affects builders...and not just homeowners selling other than their primary residence (or primary residence if they don't qualify for the capital gains credit).

I'll wait.


.
http://www.realtor.org/small_busines..._tax_broch.pdf

Last I checked with an accountant, (mine used to be an IRS auditor) if I sell a house for $250k and all my costs to build it were $210k, that means I made $40k PROFIT off of the sale. That profit would be subject to the 3.8% tax if the person makes more than $200k indvidually or $250k for a married couple.

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Ronald Reagan
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