Sept 26, 2010
The news about Obama’s health care reform just keeps getting worse — and we only find these things long after the bill has passed, of course. The newest revelation concerns a 3.8% tax on income from home sales and home rentals which will go into effect in 2013. (Note: This story has been updated to clarify who the 3.8% tax impacts, see below.)
Depending on your income level, this could end up costing you thousands of dollars from the sale of a home (even if you’re a middle-class income earner). It would also place a tax burden on all rental income from any home you might rent out to others.
How could this be? Because the new health care bill imposes a 3.8% tax on “unearned income” above a certain threshold (see below), which includes income from any source that you aren’t directly working for. This includes interest you receive on a savings account, dividends from stocks, rental income from a property you own, social security income, unemployment checks, child support and of course income from home sales.
While this tax is supposed to be targeted to “the rich” with a threshold of $250,000 in unearned income, it can very easily hit middle-class income families who sell a house with a gain, forcing them to pay the 3.8% on a portion of their gain.
There is a lot of debate on the ‘net about who this affects and exactly how this is calculated. That’s actually part of the problem: Sorting out what the law actually says is a bit of an accounting nightmare. As Nancy Pelosi said, “We have to pass the bill so that you can find out what is in it…”
As an article on Spokesman.com explains: “Middle-income people must pay the full tax even if they are ‘rich’ for only one day — the day they sell their house and buy a new one.”
For further clarification, see http://www.spokesman.com/stories/20… which states, “ObamaCare imposes a 3.8 percent annual tax on investment income of individuals making $200,000 or more and on families making $250,000 or more. The new tax is not indexed to inflation, so more people will fall under it each year. Seniors on fixed incomes and people with IRAs and 401(k) plans will be hit particularly hard.”
And where is this money going? To pay for more sick care surgeries, pharmaceuticals, chemotherapy treatments, diabetes drugs, cholesterol drugs, mammograms and other virtually useless disease “treatments” that only enrich the medical industry while doing nothing to help real people.
This 3.8% tax on unearned income from home sales and other sources is just the beginning, of course. You see, in a nation that has chosen to bet its future on a drugs-and-surgery approach to health care, there’s never enough money to pay for disease.
Treating disease is wildly more expensive than preventing disease in the first place. But treatment is also wildly profitable, thrusting billions of dollars worth of profits into the hands of drug companies, cancer clinics and radiation machine manufacturers. The entire health care reform bill, it turns out, was designed to keep these dark, dangerous industries rolling in the dough while confiscating the money to pay for it all from U.S. homeowners, investors and social security recipients.
But if people will swallow 3.8%, why not raise it to 9%? Or 18%?
That’s where this is headed because — once again — there’s never enough money to pay for disease in a nation that refuses to legalize free speech about the scientifically proven benefits of nutrition and natural health products.
Mark my words: Unless America radically alters its approach to health care and starts focusing on HEALTH instead of disease “treatment,” Big Government will only find new ways to confiscate more money from the people.
Remember, too, that this money is going into the hands of the super wealthy drug companies, cancer clinics and surgery centers of our nation. In effect, Big Government is confiscating money from the working poor and handing it over to the super rich while calling it “health care.”
Meanwhile, those who actually decide to take care of their health and avoid diseases by making healthy choices in their lives are penalized the most! The more you work, save and invest, the more you’re punished by the government. The only way to get a “free ride” is to stop working, stop taking care of yourself and just let everybody else pick up the bill for your sickness and poverty.
The worst part about this 3.8% Medicare tax is that it punishes savings and investment. At a time when the national savings rate is less than zero and when people desperately need jobs, this is a devastating blow.
New jobs, you see, come from new businesses. And new businesses can only be funded from savings and investment. But if no one is saving money (or investing it), then there are no new companies. Hence, no new jobs, either.
To place the burden of a “sick care tax” on savings and investment in America is to suppress job creation at precisely the time when we need it most.
That Big Government now resorts to confiscating money from home sales and savings account income is a sign of its sheer desperation.
Trapped in a downward spiral of sick-care spending and bankruptcy, America’s politicians haven’t yet grasped the simplicity of a plan that would save lives, save money and save America’s future: The natural health plan.
Read my free report “Nutrition Can Save America” for a primer on this concept: http://www.naturalnews.com/report_N…
To really save America from sick care bankruptcy, somebody in Washington needs to:
• Repeal the ill-conceived health care reform bill
• Establish health freedom protections for herbs, vitamins, supplements and superfoods
• Dismantle or radically reform the FDA to end its tyranny over the natural products industry
• Outlaw dangerous food ingredients that promote disease (such as sodium nitrite, HFCS, partially-hydrogenated oils, etc.)
… and much more. Essentially, America needs to abandon the conventional medical system that isn’t working and embrace holistic medicine which is cheaper (by far!), safer, more effective and even better for the environment.
That’s the mission of NaturalNews, by the way: To see America regain her health through holistic nutrition, public education, natural disease prevention and a pursuit of lifelong health and happiness. You can help by spreading the word about this 3.8% tax on home sales and rental income. Let people know how bad things are becoming now in our “sick-care nation” that will inevitably find itself bankrupt if it doesn’t change course.
This article was posted: Sunday, September 26, 2010 at 4:51 am