ObamaCare Will Make The Rubble Of Our Economy And Housing Bounce Beginning January 2013

Curtis LeMay had a way with words.  One of his sayings concerning America’s mortal enemies was:

“We should bomb ’em back to the Stone Age, and then make the rubble bounce.”

By that measure, America is Obama’s mortal enemy.  Because that’s exactly what he’s going to do with both the American economy and the American housing market beginning January 1, 2013.  Both are already in ruins.  But Obama is going to bomb them again and make the rubble bounce.

Let me first refresh your memory of Obama’s promise to the American people:

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” — then-candidate for President Sen. Barack Obama, September 12, 2008

To quote Joe Wilson, Obama lied:

3.8% Medicare tax on the sale of YOUR HOUSE
August 21st, 2011 | Author: milwaukeeco1

Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time.

In February 2010, 5.02 million homes were sold, according to the National Association of Realtors (NAR). On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property could slam middle-income families with a new tax they can’t afford.

This new ObamaCare tax is the first time the government will apply a 3.8 percent tax on unearned income. This new tax on home sales and unearned income and other Medicare taxes raise taxes more than $210 billion to pay for ObamaCare. The National Association of Realtors called this new Medicare tax on unearned income “destructive” and “ill-advised” and warned it would hurt job creation.

Additional Document: The Costly Consequences of Health Care Reform (Courtesy of the Budget Committee)

The Obama economy is rancid.  In Bill Clinton’s words:

“I hate to sound like a broken record but we could create an awesome number of jobs from this in this lousy economy.”

And Clinton is obviously a DEMOCRAT, which is to say that “lousy economy” is the most positive spin you can GIVE Obama’s economy.

And our housing market is ABOUT TO GET WORSE AS IT IS.

If that isn’t bad enough, the medical exclusion has been increased from 7.5% of adjusted gross income to 10%, which will cost anyone (in many cases people who make well under $250k/yr) who deducts medical expenses.  Flexible spending accounts (FSAs) will be reduced to $2,500 down from $5,000.  And there will be a new medical appliance tax that will hit a lot of people.

ObamaCare is literally shaping up to be a death sentence for special needs children (after it destroys those children’s parents’ savings).  You know, if said family can afford to stay in their house after the tax hits them.

If not enough Republicans get elected to gut this monstrosity, or if the Supreme Court doesn’t find the mandate to force the American people to purchase insurance unconstitutional, America is going to look back to the good old days that we’re living through right now.

Oh, and for what it’s worth, the Obama administration – which promised that no one making less than $250,000 a year would see their taxes go up one dime under his regime, will be going before the Supreme Court to argue that their mandate which will soon hit every American is a TAX.  Under ObamaCare, be ready to pay much more to get much less.

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4 Responses to “ObamaCare Will Make The Rubble Of Our Economy And Housing Bounce Beginning January 2013”

  1. Free market Capitalist Says:

    Obamacare will completely destroy what’s left of this nation, unless it is completely scrapped. Healthcare started getting more expensive when government got involved, not the other way around, like the liberals would have you to believe. There has to be enough sensible americans left out there to vote the right people in to gut this hideous monstrosity. If not, and Obomacare is left intact, the end won’t be too far off. If Obama gets a second term, I am seriously contemplating moving to another country because this country would deserve to crumble. I just can’t believe this is happening. I can’t believe there were enough stupid, delusional people to vote this clown in office in the first place. That just goes to show ya that there are, indeed, many stupid, delusional people out there – sheople.

  2. Michael Eden Says:

    Good points, Free Market Capitalist.

    People don’t realize that Medicare and Medicaid already represented about 60% of US healthcare, or that US healthcare didn’t start to skyrocket until LBJ rammed the Medicare Act through.

    The cost of healthcare is directly tied to the cost of Medicare; and Medicare as an inefficient government boondoggle just continues to skyrocket.

    Three other things that cause healthcare to skyrocket are also directly related to government and particularly to Democrats. First there is the issue of tort reform, or lack thereof. Doctors, medical clinics and hospitals are forced to buy massively expensive insurance policies and do all kinds of unnecessary and expensive tests in order to keep the Democrat ally trial lawyers off their backs. And Democrats have been very successful in preventing any kind of privatized healthcare that could benefit from economies of scale by keeping inter-state health insurance from becoming a reality. And further, the sheer volume of burdensome regulations and mandates impose huge costs; and you can thank Democrats for that, too.

  3. Free market Capitalist Says:

    Even better points Michael!

    I really enjoy reading your blog. You are well informed and almost always hit the nail on the head when exposing the evils of the demonic liberal left.

    It is ironic that it is government that has ruined the healthcare system and it is the same government who is attempting to fix it. This isn’t really about the healthcare system or promoting healthcare for everyone. It is about control. Just to name a few, our benevolent government has destroyed the school system, healthcare, and the financial system (capitalism). While they are doing this, they deceptively and strategically put the blame elsewhere and then come in and take over. This is a dark and demonic conspiracy to take over our freedom and enslave us. These Demoncrats and other government rats are nothing but puppets who are unknowingly serving the wishes of their master satan. Once they have control over every aspect of our lives, it will make it that much easier for the anti-christ to appear.

  4. Michael Eden Says:

    Free market Capitalist,

    Completely agree. The government took over healthcare, then the price for healthcare went through the roof, and then the same government that drove up the cost and reduced the quality of healthcare to begin with proceeded to (in the name of the crisis that they themselves had manufactured) take over the health care system.

    It’s right out of the Hitler-finding-pretense-to-attack-Poland playbook from the left.

    And Democrats don’t give a damn about health care, other than that it is one-sixth of the economy and would give them enormous political power if they could take it over (and use it to advance their political agenda and increase their power even more). “Vote for us or your grandma will die.”

    Democrats don’t just want to take over health care with their socialized medicine; they want to destroy the private health care system. That way it will be either government health care, or basically none at all. And then they will be able to run as the party that “gave you health care.”

    I think back to when I was a child, and how different it was (and how much better it was). Medicare had been passed (1965), but it hadn’t changed the nature of health care yet. Prices were still rather reasonable. Can you believe I had the same pediatrician the entire time my family lived in Westinster, California (from infancy to 16 yrs old)???

    Then my family moved to Oregon, which was far more “progressive” than California at the time – and it was night and day. With Orgeon being “night.” We paid far more to get far less.

    When the beast comes, he will be a big government (one WORLD big government, in fact) totalitiarian bureaucrat who will fulfill the dream of the Democrat Party. And Democrats will gleefully welcome him and take his mark and burn in hell where they belong.

    You can see it coming. You can hear the hoofbeats of the four horsemen coming if you have ears to hear.

    Thanks for the input and the support!

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