Cowpuncher
Well-known member
The following apparently is included in the Obama heealth care plan.
Quote:
Medicare tax increase. Requires single people earning $200,000 or more and couples earning $250,000 or more to pay an additional 0.9 percent in Medicare taxes.
Tax on Home Sales. Imposes a 3.8 percent tax on home sales and other real estate transactions. Middle-income people must pay the full tax even if they are “rich” for only one day – the day they sell their house and buy a new one.
I can't imagine a tax on a property bought and sold being taxed on the gross sales value rather than on the gain or loss. I guess I am glad we sold our ranch two years ago.
Quote:
Medicare tax increase. Requires single people earning $200,000 or more and couples earning $250,000 or more to pay an additional 0.9 percent in Medicare taxes.
Tax on Home Sales. Imposes a 3.8 percent tax on home sales and other real estate transactions. Middle-income people must pay the full tax even if they are “rich” for only one day – the day they sell their house and buy a new one.
I can't imagine a tax on a property bought and sold being taxed on the gross sales value rather than on the gain or loss. I guess I am glad we sold our ranch two years ago.