The latest surprise is a 3.8% tax on income from home sales, rental income

[98valk]

The U.S. health care reform bill seems to turn up all sorts of new, shocking surprises on a regular basis.

The latest surprise is a 3.8% tax on income from home sales, rental income and other sources -- all due to take effect in 2013.

And where does this tax money go? It goes directly into the pockets of drug companies, cancer clinics, vaccine manufacturers and other industry giants in the "sick-care" industry who prey on Medicare funding to line their pockets.

Read more in my weekend update:
http://www.naturalnews.com/029849_health_care_reform_taxes.html


U.S. Senate bill 3767 is trying to criminalize telling the truth about dietary supplements, putting vitamin makers in jail for up to ten years if they link their websites to scientific studies about their products!

This is no fiction; it's happening right now. Take action to help us stop this government insanity:
http://www.naturalnews.com/029828_Senate_bill_3767_dietary_supplements.html

[czuch]

2010/2012/2013
choose your revolution

[Chili Pepper]

the report of the 3.8% real estate sales tax is mostly false:
http://www.snopes.com/politics/taxes/realestate.asp

It does not apply to all, or even many,  real estate transactions.

If you are a “high earner” and you sell your home for a PROFIT ABOVE the capital gains threshold of $250,000 per individual or $500,000 per couple then you will be required to pay a 3.8% tax on any gain realized OVER this threshold.

Median price of single family homes in US: $170,700
Percentage of households in US with incomes at or above $250,000 (the threshold to be defined as “high earner”): 1.5%

Sooo… Just as an example….you and your husband earn 251k per year (not my idea of middle class). You decide to sell your 2 million dollar home. You realize a profit of $750,000. You pay 3.8% capital gains tax on your investment realization above the threshold which, for a married couple is 500k. That is to say, you pay that tax on 250k which comes to $9500.   

The population in the US is ~300,000,000. That means this MIGHT affect 4,500,000 wealthy people provided they sell their homes at all and provided they sell them for a large profit.

Happy to clarify that for ya 

[Valkahuna]

I like the way you "assume" that someone making $251K/year would own a $2,000,000 home. ???

Does that mean that someone earning $60K/year would own a $480,000 home? Especially since most everyone seems to think the entire tax burden in this country should be paid by someone making $250,000/year.

I don't get it!! 

[Chili Pepper]

Not an assumption, darlin. Just an example. 250k is the threshold for "high earner" status by that law. If you don't earn that or more it won't affect you at all.  No need to get upset.

[fudgie]

Percentage of households in US with incomes at or above $250,000 (the threshold to be defined as “high earner”): 1.5%

Aw that means i'm screwed. 

[JimC]

Chili Pepper,

You are correct, snopes labeled that one as "mostly false"  The tax is only on the profits over and above the capital gains made on a property.

What snopes forgot to mention is that the current administration has and still is talking about eliminating the capital gains exemption for personal residences. If they are successfull in removing that exemption, it will open the door for a much larger percentage of homeowners to pay the tax that was hidden in the health care bill.

You know, the one that no one read, the one that Pelosi said that we would have to get voted in before we got to see what was in it.

Jim

[fstsix]

Well i guess we have some Millionaires here on the board as a small business owner i have made over 400.000K a year in sales..i must be a Super Millionaire because 250k is now the new Obama Millionaire..But you know what those Government Studies have shown, Anybody over 75k a year just Ain't Happy Anyway SPREAD THE WEALTH!! We will all feel better once we give OUR hard earned money away LOL!!....OH BROTHER!  I am positive this will help our Failed housing market!! Worst foreclosure rate since they been keeping records last month!! My daughter in FL just found out Her home she just moved in, is in Foreclosure and was when she put out 4.500 dollars Leased and now has to move, My Son here n RI just moved this weekend when the house he leased, Had a bank rep come to the door and said it too was in Foreclosure 2....I said 2 houses in 2 states MY 2 kids are seeing and feeling this MESS!! This Capitol Gains Tax is Just Brilliant in this Economy NOW THAT IS JUST STIMULATING AINT IT      LOOK out your front door and Screw FOX news WE GOT A PROBLEM HOUSTON   

[Valkahuna]

Not an assumption, darlin. Just an example. 250k is the threshold for "high earner" status by that law. If you don't earn that or more it won't affect you at all.  No need to get upset.

I guess I am just sensitive to the whole "$250,000 and you are rich crap" that seems to have become accepted as one of the new truths. I've been there, and done that, and believe me, I took risks, worked my a$$ off, and at the end of the day was still a long way from rich. 

We all live in this country, have certain benefits, and should all pay an equal percentage of what we make. I never signed up to support those that did not take the same risks as I did. Where the heck was my help on the years that business sucked and I made squat? 

[RoadKill]

250k a year was my goal ,1/4 of the way to a millionaire !  Screw that, I'll just take a hand out instead!   Where is MY Bailout Mr.Obama ?  I needs me sum welfare! Gimme my damn money  I wants mah check right freakin now! YOU PROMISED ! ! ! ! 

               Another lyin S.O.B I guess      who would have seen that comming  ???

[¿spoom]

Well i guess we have some Millionaires here on the board as a small business owner i have made over 400.000K a year in sales..i must be a Super Millionaire because 250k is now the new Obama Millionaire..But you know what those Government Studies have shown, Anybody over 75k a year just Ain't Happy Anyway SPREAD THE WEALTH!! We will all feel better once we give OUR hard earned money away LOL!!....OH BROTHER!  I am positive this will help our Failed housing market!! Worst foreclosure rate since they been keeping records last month!! My daughter in FL just found out Her home she just moved in, is in Foreclosure and was when she put out 4.500 dollars Leased and now has to move, My Son here n RI just moved this weekend when the house he leased, Had a bank rep come to the door and said it too was in Foreclosure 2....I said 2 houses in 2 states MY 2 kids are seeing and feeling this MESS!! This Capitol Gains Tax is Just Brilliant in this Economy NOW THAT IS JUST STIMULATING AINT IT      LOOK out your front door and Screw FOX news WE GOT A PROBLEM HOUSTON   

I've heard that starting later on, we'll have to get a 1099 from any supplier we do more than $500 business with. Haven't had time to check into it, hope it's false, too. If I did less than $500/yr. with a vendor it'd have to be paper clips. I don't know about you but I'm running out of "spare time" for paperwork   

[Valkahuna]

Well i guess we have some Millionaires here on the board as a small business owner i have made over 400.000K a year in sales..i must be a Super Millionaire because 250k is now the new Obama Millionaire..But you know what those Government Studies have shown, Anybody over 75k a year just Ain't Happy Anyway SPREAD THE WEALTH!! We will all feel better once we give OUR hard earned money away LOL!!....OH BROTHER!  I am positive this will help our Failed housing market!! Worst foreclosure rate since they been keeping records last month!! My daughter in FL just found out Her home she just moved in, is in Foreclosure and was when she put out 4.500 dollars Leased and now has to move, My Son here n RI just moved this weekend when the house he leased, Had a bank rep come to the door and said it too was in Foreclosure 2....I said 2 houses in 2 states MY 2 kids are seeing and feeling this MESS!! This Capitol Gains Tax is Just Brilliant in this Economy NOW THAT IS JUST STIMULATING AINT IT      LOOK out your front door and Screw FOX news WE GOT A PROBLEM HOUSTON   

I've heard that starting later on, we'll have to get a 1099 from any supplier we do more than $500 business with. Haven't had time to check into it, hope it's false, too. If I did less than $500/yr. with a vendor it'd have to be paper clips. I don't know about you but I'm running out of "spare time" for paperwork   

Can you say "Big Government bureaucracy?" I'm with you. I'm self employed and it's darn hard to keep up with all of the crap.

[fstsix]

What most people don't realize is that SS AKA Self Employment Tax for us is a big hit @ 15.2 % on adjusted gross, Employees pay around 7% SS...we pay double in TAX. this last 2 years i am no longer a Millionaire like all of us NON government employees learning how to Streamline our expenses, Unlike the Fed's who keep spending more and still getting cost of living raises each year. This ole Apple cart is getting tired of pushing and pulling.    

[MP]

Well i guess we have some Millionaires here on the board as a small business owner i have made over 400.000K a year in sales..i must be a Super Millionaire because 250k is now the new Obama Millionaire..But you know what those Government Studies have shown, Anybody over 75k a year just Ain't Happy Anyway SPREAD THE WEALTH!! We will all feel better once we give OUR hard earned money away LOL!!....OH BROTHER!  I am positive this will help our Failed housing market!! Worst foreclosure rate since they been keeping records last month!! My daughter in FL just found out Her home she just moved in, is in Foreclosure and was when she put out 4.500 dollars Leased and now has to move, My Son here n RI just moved this weekend when the house he leased, Had a bank rep come to the door and said it too was in Foreclosure 2....I said 2 houses in 2 states MY 2 kids are seeing and feeling this MESS!! This Capitol Gains Tax is Just Brilliant in this Economy NOW THAT IS JUST STIMULATING AINT IT     LOOK out your front door and Screw FOX news WE GOT A PROBLEM HOUSTON  

I've heard that starting later on, we'll have to get a 1099 from any supplier we do more than $500 business with. Haven't had time to check into it, hope it's false, too. If I did less than $500/yr. with a vendor it'd have to be paper clips. I don't know about you but I'm running out of "spare time" for paperwork  

Sorry, it is true.  Other than that YOU have to give THEM the 1099.  Any place you spend over that amount, you need to give a 1099 to. 

The dems just defeated a proposal to eliminate it.

As an over the road trucker, I will now have to file a 1099 with EVERY truck stop I buy fuel at, because almost every fuel fill is over that amount.  So, I have to get a mailing address from EVERY fuel stop, keep track of what I pay them, and mail them and the IRS a statement, 1099, on EVRY fuel stop.

THANK YOU, all you anti business Democrats!  And they claim they like small businesses!  WHAT A LOAD OF CR*P!
(sarcasim font)

MP

[MNBill]

Flat tax for all, even take it out of the welfare checks. No deductions for political, church or other special intrest things, flat tax on all profits or personal income. Fair across the board.

[¿spoom]

Flat tax for all, even take it out of the welfare checks. No deductions for political, church or other special intrest things, flat tax on all profits or personal income. Fair across the board.

[¿spoom]

Well i guess we have some Millionaires here on the board as a small business owner i have made over 400.000K a year in sales..i must be a Super Millionaire because 250k is now the new Obama Millionaire..But you know what those Government Studies have shown, Anybody over 75k a year just Ain't Happy Anyway SPREAD THE WEALTH!! We will all feel better once we give OUR hard earned money away LOL!!....OH BROTHER!  I am positive this will help our Failed housing market!! Worst foreclosure rate since they been keeping records last month!! My daughter in FL just found out Her home she just moved in, is in Foreclosure and was when she put out 4.500 dollars Leased and now has to move, My Son here n RI just moved this weekend when the house he leased, Had a bank rep come to the door and said it too was in Foreclosure 2....I said 2 houses in 2 states MY 2 kids are seeing and feeling this MESS!! This Capitol Gains Tax is Just Brilliant in this Economy NOW THAT IS JUST STIMULATING AINT IT     LOOK out your front door and Screw FOX news WE GOT A PROBLEM HOUSTON  

I've heard that starting later on, we'll have to get a 1099 from any supplier we do more than $500 business with. Haven't had time to check into it, hope it's false, too. If I did less than $500/yr. with a vendor it'd have to be paper clips. I don't know about you but I'm running out of "spare time" for paperwork  

Sorry, it is true.  Other than that YOU have to give THEM the 1099.  Any place you spend over that amount, you need to give a 1099 to. 

The dems just defeated a proposal to eliminate it.

As an over the road trucker, I will now have to file a 1099 with EVERY truck stop I buy fuel at, because almost every fuel fill is over that amount.  So, I have to get a mailing address from EVERY fuel stop, keep track of what I pay them, and mail them and the IRS a statement, 1099, on EVRY fuel stop.

THANK YOU, all you anti business Democrats!  And they claim they like small businesses!  WHAT A LOAD OF CR*P!
(sarcasim font)

MP

oh, that's different. it'll be a lot easier to yell at myself if it doesn't get done on time then pester the various suppliers. Not sure why I'd have to give THEM paperwork when the Obaminations are more concerned about my deductions being legit? Oh well, just means 10-12 hour days can get lengthened.............................

[G-Man]

What this administration also fails to see, when making that cutoff of $250K, is that the folks that do make that kind of money live in areas that are generally more expensive.  These folks tend to live in the more expensive part of cities and suburbs, where the cost of life is astronomical, but need to be there for proximity to work and to provide better educations for their kids.  These folks pay $20K in property taxes (minimally), average home cost is $750K, higher school taxes, higher payroll taxes, etc.  These folks pay half of the taxes  and utilize the least amount of services.

I agree with the flat tax.  No write-offs and no deductions. 

[musclehead]

Not an assumption, darlin. Just an example. 250k is the threshold for "high earner" status by that law. If you don't earn that or more it won't affect you at all.  No need to get upset.

I guess I am just sensitive to the whole "$250,000 and you are rich crap" that seems to have become accepted as one of the new truths. I've been there, and done that, and believe me, I took risks, worked my a$$ off, and at the end of the day was still a long way from rich. 

We all live in this country, have certain benefits, and should all pay an equal percentage of what we make. I never signed up to support those that did not take the same risks as I did. Where the heck was my help on the years that business sucked and I made squat? 

thats gross right? I'm "going to make $150,000" this year but I'll only keep about $52,000. for once I'm glad I'm not making the big bucks, I'd just have to call it good at $249,000

[elraque]

The other thing that troubles me (that doesn't seem to have been mentioned here), is that this 3.8% "tax" (or fee, or whatever), shows up in the

HEALTH CARE REFORM BILL

How in H E double toothpicks can this POSSIBLY be related to HEALTH CARE REFORM???

[Bobbo]

I believe it helps finance it...

[MP]

I believe it helps finance it...

What?!  We were told the bill SAVED money, now you are saying we need to finance it?  Libs lying again?  Just like I was told if I liked my plan, I could keep it.  What a laugh.  LOTS of bad changes to it to meet the new federal law.  Lies, Lies, Lies.

MP

[98valk]

I believe it helps finance it...

What?!  We were told the bill SAVED money, now you are saying we need to finance it?  Libs lying again?  Just like I was told if I liked my plan, I could keep it.  What a laugh.  LOTS of bad changes to it to meet the new federal law.  Lies, Lies, Lies.

MP

most politicans are lawyers, lawyers are taught in law school how to lie and deceive.

[fudgie]

I just paid $25 for my inhalor today. Whens this obama care take place so I can get it for free? 

[MP]

It will be $30, because there is a tax on "medical devices" in the bill.  More taxes needed to fund something that is to "save us money!"

MP

[98valk]

I just paid $25 for my inhalor today. Whens this obama care take place so I can get it for free? 

wasn't that inhaler like $5-10, 2 yrs ago, until the communist EPA decided yrs ago with false science that r-12 hurts the ozone layer and now they went after the inhalers and forced the drug companies to use r134 now instead of the r12 as the propellant. and yes that is what they use in the inhalers.

learning what foods are causing the inflamation in your lungs will get u off of the inhaler. the blood type diet plan will work. www.dadamo.com

[fudgie]

I just paid $25 for my inhalor today. Whens this obama care take place so I can get it for free? 

wasn't that inhaler like $5-10, 2 yrs ago, until the communist EPA decided yrs ago with false science that r-12 hurts the ozone layer and now they went after the inhalers and forced the drug companies to use r134 now instead of the r12 as the propellant. and yes that is what they use in the inhalers.

learning what foods are causing the inflamation in your lungs will get u off of the inhaler. the blood type diet plan will work. www.dadamo.com

Yep, $10 last year. Your right, they did away with the stuff you mention. To be honest, this one sux. I was breathing far better with the old one with all the 'bad' stuff in it. I have to use it twice as much now. Plus it tastes like poo. I've had asthma for 32 years of my 34. Heard growing up to 'watch what you eat'. Never changed my diet and my asthma is better then it was 10 yrs ago. Mine is more of exhertion and weather change then anything. With advances in medicine like Xopenex and Advair, asthma doesnt bother me.
Funny thing about Xopenex is we use it on our ambulances, 1st choice instead of albuterol. Our head doctor wanted us to take it off the trucks due to studies showing it did not do better then albuterol. 99% of our pts had showed faster positive resualts then with Albuterol. 

[98valk]

I just paid $25 for my inhalor today. Whens this obama care take place so I can get it for free? 

wasn't that inhaler like $5-10, 2 yrs ago, until the communist EPA decided yrs ago with false science that r-12 hurts the ozone layer and now they went after the inhalers and forced the drug companies to use r134 now instead of the r12 as the propellant. and yes that is what they use in the inhalers.

learning what foods are causing the inflamation in your lungs will get u off of the inhaler. the blood type diet plan will work. www.dadamo.com

Yep, $10 last year. Your right, they did away with the stuff you mention. To be honest, this one sux. I was breathing far better with the old one with all the 'bad' stuff in it. I have to use it twice as much now. Plus it tastes like poo. I've had asthma for 32 years of my 34. Heard growing up to 'watch what you eat'. Never changed my diet and my asthma is better then it was 10 yrs ago. Mine is more of exhertion and weather change then anything. With advances in medicine like Xopenex and Advair, asthma doesnt bother me.
Funny thing about Xopenex is we use it on our ambulances, 1st choice instead of albuterol. Our head doctor wanted us to take it off the trucks due to studies showing it did not do better then albuterol. 99% of our pts had showed faster positive resualts then with Albuterol. 

PM me if u want to talk in detail. The diet does work. It did for me. avoid all corn products esp high fructose corn syrup and all gluten. u will see improvement. wheat gluten has now been shown to be a major problem for various aliments in most people. the wheat today in this country is not the wheat eaten for centuries. It is a hybrid, wheat that was combined with a fast growing weed.

[G-Man]

I just paid $25 for my inhalor today. Whens this obama care take place so I can get it for free? 

wasn't that inhaler like $5-10, 2 yrs ago, until the communist EPA decided yrs ago with false science that r-12 hurts the ozone layer and now they went after the inhalers and forced the drug companies to use r134 now instead of the r12 as the propellant. and yes that is what they use in the inhalers.

learning what foods are causing the inflamation in your lungs will get u off of the inhaler. the blood type diet plan will work. www.dadamo.com

Right you are!