Tuesday, April 6, 2010

Our state of health

Here is the best summary I've seen about the practical impacts of the new Health Care law. We are free to think either, "It's the right thing to do," or, "It's socialist," but it is worth knowing specifics...


Here's are two samples:

"Tax on Home Sales. Imposes a 3.8 percent tax on home sales and other real estate transactions. 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."

"Tax on investment income. 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."

How do you think that's going to affect homeownership, the real estate market, individual investing, the economy? Just remember, a government discourages activities by taxing them. Hmmm.

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