.

Hidden Taxes in ObamaCare

ObamaCare hidden taxes effect not only small businesses, but families through the sale of their homes starting in 2013.

Several months ago I reported to my radio audience that there was a hidden tax in ObamaCare on any purchases of Gold.

Well, it appears to not be the only hidden tax in the bill. Recently a listener sent information on  another tax hidden in the president's health care bill that was passed because, as Nancy Pelosi said... "We have to pass the bill so we can know what's in it,"...it's a 3.8 percent additional sales tax that will have to be paid on the sale of your home after 2012.

Now, some are debunking this claim as a 'myth,' however, according to the National Association of Realtors, it's not a myth. (See their detailed coverage.)  Some of the details as written by Armstrong Williams in Human Events are... 

"In principle this tax applies only to wealthy individuals with profits in excess of $250,000 (single taxpayer) or $500,000 (joint taxpayers) from the sale of their primary residence. However, it also appears to apply to profits on second homes and residential investments. This tax will have a major impact on upper middle income baby boomers living in high cost metropolitan areas who want to downsize from their long held large family home. This tax will certainly have a chilling impact on the nation's morbid housing market.

"If middle class Americans think they will escape this tax, think again. At some point in the near future, inflation from the Federal Reserve printing money to finance the President's huge budget deficits will drive up the nominal price of housing. Even modest 3 bedroom homes will sell for big nominal dollars. At that point the middle class will be ensnared with the tax. Look at history. The income tax was originally sold to the American people as only taxing the top 2 percent!"

I think it's time we all do some homework on this and other hidden taxes that are being discovered in ObamaCare. They not only will effect small businesses, but families, in a time we all are overwhelmed with the impact of our current economic problems.

What say you?

Related:
The Costly Consequences of the Health Care Reform 
Hidden Tax on Capital Gains 
Hidden Tax Change for Small Businesses

Sharon  Hughes is the Founder and President of The Center for Changing Worldviews and a radio talk show host on her flagship station KDIA 1640 in San Francisco, CA., and other stations across the nation. Her articles appear in many recognized online news sites and publications, including NewsBusters.org, a division of The Media Research Center, and she has appeared on FOX News and many national radio programs. She is also the Founder of Operation Heartlift supporting our Troops and their families, and Operation ARC, helping to rescue at-risk-children from slave and sex trafficking. For information visit her Website www.changingworldviews.com,  or Email her at sharon@changingworldviews.com  

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

bruce mallon October 04, 2011 at 07:25 PM
It's about time the top tier starts to pay for what we low income folks pay without crying. Weep not when becoming rich in America, it's our infrastructure that allows for this high wealth to be earned.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something