Hidden away in the so-called Patient Protection and Affordable Care Act is a 3.8% federal sales tax on all unearned income. This includes home sales and rentals. Anyone think that taxing home sales will help the housing market recover? Anyone think that forcing landlords to raise rents by at least 3.8% to cover the new taxes will help? Over 200 companies have already applied to the White House for individual waivers from having to comply with other crippling mandates from this bill. Will politically connected homeowners and landlords be running to the White House to get waivers from this part of the bill too?
When will the scary surprises stop?
That’s a new tax on people earning under $250K. Do you own a home? Are you concerned with having to pay another 3.8% in sales tax to the federal government when you sell? Or do you rent? Do you want to pay another 3.8% in rent?
What else is in this bill?
Republicans should stay the course and repeal this monstrosity and all its stealth provisions, including this 3.8% sales tax on home sales and rental income.