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Home › Forums › Financial Markets/Economics › Obamacare bill contains 3.8% tax on homes sales capital gains for high income earners › Repost of this

June 30, 2012 at 9:40 PM #746937
Coronita
Participant

Repost of this thread.
http://piggington.com/ot_obamacare_decision_rassling_ring?page=2

The 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.