Just What We Need

According to the official website of the Republican Party, President Obama’s health care program is responsible for a new tax that will make it even harder for our housing industry to recover in the future. According to a post from earlier this week:

“Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income, including the sale of single family homes, townhouses, co-ops, condominiums, and even rental income.”

According to the GOP, the new ObamaCare tax is the first time the government will apply a 3.8 percent tax on unearned income.

Does it seem like there are people working within the federal government that just don’t realize how important a healthy housing industry is to the overall health of our economy?

I would love to hear your comments on this.