So my dad sent me a this link in a furious rage:
http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home
But I can't find any citations on it that would direct me to the part of the bill that would contain this provision. I did however see some weasel words:
Now this tells me that there's an income threshold, a certain amount of money you need to make a year for this tax to take effect, in which case this would not be effecting the middle class. However, because I'm having trouble finding the citations that would confirm this, I don't know what that threshold is. If someone who's studied the meat of this bill more extensively than I have could give the specifics, it might help me make a more informed decision about this. What I've read so far is disturbing, if accurate, and I'd like to know straight up is this is true.
http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home
But I can't find any citations on it that would direct me to the part of the bill that would contain this provision. I did however see some weasel words:
Quote:
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions.
Now this tells me that there's an income threshold, a certain amount of money you need to make a year for this tax to take effect, in which case this would not be effecting the middle class. However, because I'm having trouble finding the citations that would confirm this, I don't know what that threshold is. If someone who's studied the meat of this bill more extensively than I have could give the specifics, it might help me make a more informed decision about this. What I've read so far is disturbing, if accurate, and I'd like to know straight up is this is true.