Beginning January 1, 2013, ObamaCare will impose a 3.8% Medicare tax on all unearned income, including the sale of single family homes, townhouses, co-ops, condominiums, and even rental income. In February 2010, 5.02 million homes were sold, according to the National Association of Realtors. On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property can push middle-class families over the $250,000 threshold and slam them with a new tax they cannot afford.
This new ObamaCare tax is the first time the government will apply a 3.8 percent tax on unearned income. This new tax on home sales and unearned income and other Medicare taxes raise taxes more than $210 million to pay for ObamaCare. The national Association of Realtors called this new Medicare tax on unearned income'destructive' and 'ill-advised' and warned that it would hurt job creation.