ObamaCare's New 3.8% Real Estate Tax Applies to Those Who Makes Less Than $200,000 A Year

The Detroit Free Press reports on the new big tax on the middle class:

Say a single taxpayer who typically has an adjusted gross income of $80,000 but in a given year has a $400,000 net gain from the sale of a vacation home.

The 3.8% tax rate would apply to $280,000 in this example. The additional 3.8% tax applies to the amount of your adjusted gross income that exceeds the $200,000 threshold for singles and the $250,000 for joint-filers.

In this example, the tax owed would be $10,640.

The new tax received a little bit of buzz but many are not aware of the change ahead.

No wonder Nancy Pelosi didn't want you to see what was in the bill until she passed it!