ObamaCare To Tax Home Sales

"I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes." President Obama, September 12, 2008.

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.