In other news, Obamacare raises the medicare tax from 2.9% to 3.8% on earned income that goes on forever, and slaps the 3.8% on unearned income for everybody earning over 200K if single, and 250K if married. I find it more and more profitable to spend my time more as a playboy than as a lawyer. That even applies to income from selling your home for a profit. Of course, next to nobody knows about this little tax. It was so buried in the 3000 some pages of the Obamacare bill, that it is only surfacing now, which reminds me yet again, just how pathetic the media is in covering anything complex.
I've heard about this a bunch. Anyways, singles making less than $200k and married couples making less than $250k won't be affected by this.
Its also just for those whose profit from the sale of the home is over $250,000 for singles and over $500,000 for married couples.
