Home › Forums › Financial Markets/Economics › Obamacare bill contains 3.8% tax on homes sales capital gains for high income earners
- This topic has 145 replies, 17 voices, and was last updated 11 years, 12 months ago by
all.
-
AuthorPosts
-
June 30, 2012 at 6:46 PM #19920June 30, 2012 at 6:50 PM #746929
spdrun
ParticipantIf you’re making $250k profit on a home sale AFTER expenses, do you think that making $9500 less will really keep you from selling? Get real. This isn’t the end of the world.
June 30, 2012 at 9:24 PM #746936DataAgent
Participant“Not to mention how this bill could create higher rates of unemployment due to the costs that will be imposed on small business that will “DIS-incentivize” small business from hiring.”
Did El Rushbo tell you this? How exactly does a sales tax on a small number of home sales decrease small business hiring?
June 30, 2012 at 9:40 PM #746937
CoronitaParticipantRepost of this thread.
http://piggington.com/ot_obamacare_decision_rassling_ring?page=2The 3.8% surcharge isn’t nearly as bad as the second tax: 0.9% Medicare surcharge tax on earned income
http://www.cliftonlarsonallen.com/inside.aspx?id=364
It will really suck for self employed people. Because while it’s conceivable that while W2 salaried people who make over 200k/250k household might less common (I disagree anyway) say in the tech field, it’s pretty easy for someone to hit the 200k/250k as self-employed contractor…
So remember, if you have large capital gains distribution (like you need to sell a boat load of stock/stock options), sell a house with large appreciation not shielded by owner occupancy exemption etc, 2012 is the year to do it without getting hit with the higher taxes.
I’m telling you folks. I use to penny pinch… No more. Spend and enjoy. Because if you don’t, our Robin Hood government will do it for you, whether you like it or not.
July 1, 2012 at 2:30 PM #746962ctr70
ParticipantAnother good article on the tax consequences of Obamacare. How financially successful have to carry the load for everyone else.
July 1, 2012 at 2:33 PM #746965Participant[quote=spdrun]If you’re making $250k profit on a home sale AFTER expenses, do you think that making $9500 less will really keep you from selling? Get real. This isn’t the end of the world.[/quote]
It’s always easy for those who don’t have to pay a tax to be in favor of others having to pay it.
July 1, 2012 at 2:34 PM #746966Participant[quote=DataAgent]”Not to mention how this bill could create higher rates of unemployment due to the costs that will be imposed on small business that will “DIS-incentivize” small business from hiring.”
Did El Rushbo tell you this? How exactly does a sales tax on a small number of home sales decrease small business hiring?[/quote]
There are additional costs to small business that have nothing to do with this 3.8% tax.
July 1, 2012 at 2:53 PM #746967mike92104
Participant[quote=spdrun]If you’re making $250k profit on a home sale AFTER expenses, do you think that making $9500 less will really keep you from selling? Get real. This isn’t the end of the world.[/quote]
The problem with the “it’s just a little bit” argument is that it always ignores the fact that it’s a little bit MORE. It’s another step toward total confiscation of everyone’s income. Look at the history of income tax as an example. The forst rates were between 1 and 7 percent. It only took 3 years for that to be doubled, and has been steadily increased ever since. Add to that all of the other taxes we are forced to pay, and it’s estimated the average person pays over 50% (50 f-ing %!!). So, don’t use the politicians normal tag line of “it’s just a little bit”.
July 1, 2012 at 2:53 PM #746968ParticipantDuplicate post
July 1, 2012 at 2:59 PM #746969ParticipantIt’s always easy for those who don’t have to pay a tax to be in favor of others having to pay it.
Not in favor nor against, just indifferent. It’s not the end of the world either way, and if the government is going to provide services, taxing is better than printing money or cutting other services to pay for them.
July 1, 2012 at 3:13 PM #746974an
Participant[quote=spdrun]
It’s always easy for those who don’t have to pay a tax to be in favor of others having to pay it.
Not in favor nor against, just indifferent. It’s not the end of the world either way, and if the government is going to provide services, taxing is better than printing money or cutting other services to pay for them.[/quote]
Printing money is like a hidden tax, so there really no difference between one kind of tax over the other. At least with printing money, everyone get to share the pain. It always is easier to tax the other guy.July 1, 2012 at 3:23 PM #746975ParticipantHow do you propose to pay for government services? Magic?
Printing money is an unpredictable tax, and unpredictable inflation is bad for business. Not to mention that it favors spenders over savers, and Americans save too little as it is.
July 1, 2012 at 3:47 PM #746977SK in CV
Participant[quote=mike92104]Add to that all of the other taxes we are forced to pay, and it’s estimated the average person pays over 50% (50 f-ing %!!). [/quote]
That estimate would probably be no closer to reality than an estimate of 10%. 10% sounds a lot better. I’d go with that.
July 1, 2012 at 3:52 PM #746979Participant[quote=SK in CV][quote=mike92104]Add to that all of the other taxes we are forced to pay, and it’s estimated the average person pays over 50% (50 f-ing %!!). [/quote]
That estimate would probably be no closer to reality than an estimate of 10%. 10% sounds a lot better. I’d go with that.[/quote]
Do you have an estimate that you didn’t just pull out of your ass?
July 1, 2012 at 3:57 PM #746980Participant[quote=spdrun]How do you propose to pay for government services? Magic?
Printing money is an unpredictable tax, and unpredictable inflation is bad for business. Not to mention that it favors spenders over savers, and Americans save too little as it is.[/quote]
Why does the government need more and more and more funding year after year?
-
AuthorPosts
- You must be logged in to reply to this topic.