In response to:

Cavuto: This Whole Confiscation of Funds Has Already Happened in America

kcr630 Wrote: Mar 19, 2013 12:42 PM
Neil - Let's be honest about the debate on the 3.8 surtax on your home. Example: John and Mary sell their home for $600,000. They originally paid $50,000 for it. Their gain is $550,000. Because they meet the 2-out-of-5year rule, they can exclude $500,000 of that gain. The $50,000 remaining gain will be subject to capital gains tax, but will only be subject to the 3.8% surtax if their total income, including the $50,000 taxable gain, exceeds $250,000.
Don5986 Wrote: Mar 19, 2013 2:50 PM
It is still another tax by obama no matter how you try to justify it.
kcr630 Wrote: Mar 19, 2013 1:07 PM
I'm not saying it's right but I'm also saying that 95+% of Americans will never see this tax on the sale of their home. Since the married couple gets a $500k exemption the remaining portion is then taxed at only the amount that takes their income over $250K for the tax year. Let's say that their income is $230K then of the $50K only $30K is taxable. $30K X.038% = $1140
westriversd Wrote: Mar 19, 2013 12:58 PM
So? What's your point? Does this change the real question of why does a "health care law" tax the value of a persons assets to create income for justifying the law? Why don't the goobers in goobermint just charge the "riche" more for their medicare coverage and quit hiding these penalties for being successful in the minutia of this 2700 page monstrosity of a law.
Mike4166 Wrote: Mar 19, 2013 3:27 PM
They've already done that. It's a "cadillac" health insurance policy tax. It's another shot at those evil rich people who live within their means, live responsibly, and do what is necessary and proper when it comes to taking care of themselves and their children. Once again the responsible are punished to bail out the irresponsible, like Harry the dullard.
Bill1895 Wrote: Mar 19, 2013 12:55 PM
What if John and Mary bought their home for $150,000 and due to the long Obama recession, last one of their jobs, had to sell and could only get $130,000 for it. How much do they owe?
psydoc Wrote: Mar 19, 2013 1:23 PM
Bill, John and Mary do not have a capital gain, so there would be no 3.8% tax on any amount.
RVN70USMC Wrote: Mar 19, 2013 12:50 PM
It is just another liberal tax grab. Liberals are NEVER satisfied.
rmt5 in MA Wrote: Mar 19, 2013 12:59 PM
Just another one of those things that we would learn is in Obamacare after it was passed.
There is more to come. Much more after Sebelius is done "interpreting" the law into mindless, onerous regulations.
GodsLaws Wrote: Mar 19, 2013 12:45 PM
So robbery is OK if you make it sound complicated?

Honest crooks just shove a gun in your face.

And nterrestingly, they don' need accountant-apologists to rationalize their crimes.

Democrats -- too dishonest to even rip people off without lying about it.

Yesterday we learned Cyprus has closed its banks as it prepares to take 10 percent out of private bank accounts to bail itself out of bad economic decisions. Fox News host and business expert Neil Cavuto is warning this isn't simply a concept in some small, far away country, but something that has already happened in America through ObamaCare's 3.8 percent tax on home sales. And yes, it can get worse.

"Taxing you not on what you make but what you have."


Related Tags: Neil Cavuto Obamacare Cyprus