Regarding the 3.8% "sales tax" on real estate, that really isn't accurate. However, for the "wealthy" there will be a 3.8% "Medicare tax" on investment income. This begins in 2013 and targets married couples making $250K or more a year or individuals making $125K per year filing separately. It is a tax on investment income, so yes, real estate could certainly become involved, but the administration is emphasizing that this will only affect the "top 5% of earners". Not sure about you, but this sure makes me feel better. RIGHT!

Another thing that VERY few people know anything about is that the new health care bill actually puts limitations on buying and selling gold. Hard to believe isn't it. Why do you think they would do that?? What does gold have to do with health-care?? Well, I'll tell you, it limits the rich from being able to move assets into a commodity that the government can't control. In other words, it they want to dump a ton of paper into the system and make our money almost worthless, 97% of us will then be totally at the governments mercy. However, if you own gold (or Euros for that matter) the government manipulation of the money supply has little effect on you. You will notice in the news right now that gold has taken off!! Very wealthy people are buying gold by the pound and ton. Yes, that's right, $1350 an OUNCE and they are buying it by the ton. You think maybe they see something coming??

One more thing that wasn't mentioned in your article but that the dems are desperately going to try and push through prior to 2011 (before we can take congress back over we hope!!) is a VAT. A value added tax. This is a real thing and quite scary. Currently, only the idiot congressman from PA that proposed it is on board and the administration is trying to downplay it as though they aren't interested. But what this guy proposed is that there is a 1% tax placed on EVERY financial transaction. This means if you buy a house for 100K, a car for 10K or take $50 out of your ATM, EVERYTHING gets taxed 1%. All the dems are acting like they would never support such an idea, but others are very concerned and keeping an eye on this kind of thing.

FYI, there is just a LOT in the new law that has nothing to do with health-care. It has everything to do with the government being able to have more control of our lives. We are going to be having the most important election of our lives in a few short weeks.

God Bless, Jack

“Following is the legal description.” John R. Stanczak
‘‘CHAPTER 2A—UNEARNED INCOME MEDICARE CONTRIBUTION
‘‘Sec. 1411. Imposition of tax.
‘‘SEC. 1411. IMPOSITION OF TAX.
‘‘(a) IN GENERAL.—Except as provided in subsection (e)— ‘‘(1) APPLICATION TO INDIVIDUALS.—In the case

of an individual, there is hereby imposed (in addition to any other tax imposed by this subtitle) for each taxable year a tax equal to 3.8 percent of the lesser of— ‘‘(A) net investment income for such taxable year, or ‘‘(B) the excess (if any) of— ‘‘(i) the modified adjusted gross income for such taxable year, over ‘‘(ii) the threshold amount.
‘‘(2) APPLICATION TO ESTATES AND TRUSTS.—In the case of an estate or trust, there is hereby imposed (in addition
to any other tax imposed by this subtitle) for each taxable year a tax of 3.8 percent of the lesser of— ‘‘(A) the undistributed net investment income for such taxable year, or ‘‘(B) the excess (if any) of— ‘‘(i) the adjusted gross income (as defined in section 67(e)) for such taxable year, over ‘‘(ii) the dollar amount at which the highest tax
bracket in section 1(e) begins for such taxable year.
‘‘(b) THRESHOLD AMOUNT.—For purposes of this chapter, the term ‘threshold amount’ means—
‘‘(1) in the case of a taxpayer making a joint return under section 6013 or a surviving spouse (as defined in section 2(a)), $250,000,
‘‘(2) in the case of a married taxpayer (as defined in section
7703) filing a separate return, 1⁄2 of the dollar amount determined
under paragraph (1), and
‘‘(3) in any other case, $200,000.
‘‘(c) NET INVESTMENT INCOME.—For purposes of this chapter—
‘‘(1) IN GENERAL.—The term ‘net investment income’ means
the excess (if any) of—
‘‘(A) the sum of—
‘‘(i) gross income from interest, dividends, annuities, royalties, and rents, other than such income which is derived in the ordinary course of a trade or business not described in paragraph (2), ‘‘(ii) other gross income derived from a trade or business described in paragraph (2), and ‘‘(iii) net gain (to the extent taken into account in computing taxable income) attributable to the disposition of property other than property held in a trade or business not described in paragraph (2), over ‘‘(B) the deductions allowed by this subtitle which are properly allocable to such gross income or net gain.
‘‘(2) TRADES AND BUSINESSES TO WHICH TAX APPLIES.— A trade or business is described in this paragraph if such trade
or business is—
‘‘(A) a passive activity (within the meaning of section 469) with respect to the taxpayer, or H. R. 4872—34
‘‘(B) a trade or business of trading in financial instruments or commodities (as defined in section 475(e)(2)).
‘‘(3) INCOME ON INVESTMENT OF WORKING CAPITAL SUBJECT TO TAX.—A rule similar to the rule of section 469(e)(1)(B) shall apply for purposes of this subsection.
‘‘(4) EXCEPTION FOR CERTAIN ACTIVE INTERESTS IN PARTNERSHIPS AND S CORPORATIONS.—In the case of a disposition of
an interest in a partnership or S corporation—
‘‘(A) gain from such disposition shall be taken into account under clause (iii) of paragraph (1)(A) only to the extent of the net gain which would be so taken into account by the transferor if all property of the partnership or S corporation were sold for fair market value immediately before the disposition of such interest, and
‘‘(B) a rule similar to the rule of subparagraph (A) shall apply to a loss from such disposition.
‘‘(5) EXCEPTION FOR DISTRIBUTIONS FROM QUALIFIED PLANS.—The term ‘net investment income’ shall not include
any distribution from a plan or arrangement described in section
401(a), 403(a), 403(b), 408, 408A, or 457(b).
‘‘(6) SPECIAL RULE.—Net investment income shall not include any item taken into account in determining self- employment income for such taxable year on which a tax is imposed by section 1401(b).
‘‘(d) MODIFIED ADJUSTED GROSS INCOME.—For purposes of this chapter, the term ‘modified adjusted gross income’ means adjusted gross income increased by the excess of— ‘‘(1) the amount excluded from gross income under section 911(a)(1), over
‘‘(2) the amount of any deductions (taken into account in computing adjusted gross income) or exclusions disallowed under section 911(d)(6) with respect to the amounts described in paragraph (1).
‘‘(e) NONAPPLICATION OF SECTION.—This section shall not apply to—
‘‘(1) a nonresident alien, or
‘‘(2) a trust all of the unexpired interests in which are devoted to one or more of the purposes described in section
170(c)(2)(B).’’.
(2) ESTIMATED TAXES.—Section 6654 of the Internal Revenue Code of 1986 is amended—
(A) in subsection (a), by striking ‘‘and the tax under
chapter 2’’ and inserting ‘‘the tax under chapter 2, and the tax under chapter 2A’’; and
(B) in subsection (f)—
(i) by striking ‘‘minus’’ at the end of paragraph
(2) and inserting ‘‘plus’’; and
(ii) by redesignating paragraph (3) as paragraph
(4) and inserting after paragraph (2) the following new
paragraph:
‘‘(3) the taxes imposed by chapter 2A, minus’’.
(3) CLERICAL AMENDMENT.—The table of chapters for subtitle A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to chapter 2 the following new item: