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Reaction to Ryan: A Gap Between Mainstream America and Official Washington

ICBM34 Wrote: Aug 17, 2012 2:11 PM
My medicare cost will more than double with the end of medicare advantage. I understand that to help pay for Obamacare there will be a new 3.8% tax on the sale of every asset(home, stock, etc.) in addition to a raise in the capital gain tax. I have seen this mentioned only once on tv including Fox Network. And I understand many investors are quietly unloading property.
scott s. Wrote: Aug 17, 2012 4:41 PM
The 3.8% tax is on unearned income (for those with over 200,000 in AGI) not on sales of assets. This is in addition to a 0.9% tax on wage/earned income. For capital gains, that 3.8% is tacked onto the 5% tax increase scheduled to kick in on Jan 1.

One of the things Mitt Romney's selection of Paul Ryan as his running mate ensures is a series of polling questions over the coming months asking voters what's more important: creating jobs or cutting government spending; helping the economy or cutting deficits; repealing the president's health care law or focusing on the economy.

These questions reflect the way official Washington views the world, but they don't make sense in Mainstream America. In Washington, it's a given that more government spending is needed to help the economy. Most Americans hold the opposite view. So when you ask whether...