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REAL ESTATE SALES TAX

Soapweed

Well-known member
REAL ESTATE SALES TAX

Under the new health care bill - did you know that all real estate transactions will be subject to a 3.8% Sales Tax? The bulk of these new taxes don't kick in until 2013 (presumably after Obama’s re-election). You can thank Nancy, Harry and Barack and your local Democrat Congressman for this one. If you sell your $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation who often downsize their homes. Is this Hope & Change great or what? Does this stuff makes your November and 2012 votes more important?
Oh, you weren't aware this was in the Obamacare bill? Guess what, you aren't alone. There are more than a few members of Congress that aren't aware of it either (result of clandestine midnight voting for huge bills they’ve never read). AND, there are a few other surprises lurking.
 

hypocritexposer

Well-known member
Mike said:
We need proof. Surely those Dems wouldn't tax the middle class...would they? :lol: :lol: :lol:


they'll tax anbody they are able to fool. Oh, and they rest that didn't vote for them, too.

"It's the Irag war stupid"
 

Cowpuncher

Well-known member
This has been flying around the inter net for a while.

I tried to check this out and found the following article about the one you sent.

his recent guest column regarding the impact of the Health Care Bill, Paul Guppy of the Washington Policy Center claimed that a 3.8% tax on all home sales was a part of the recently passed legislation. This is inaccurate and needs to be corrected. The truth about the bill is that if you sell your home for a profit above the Capitol Gains threshold of $250,000 per individual or $500,000 per couple then you would be required to pay the additional 3.8% tax on any gain realized over this threshold.
Most people who sell their homes will not be impacted by these new regulations. This is not a new tax on every seller, and that correction needs to be made. This tax is aimed at so called “high earners” if you do not fall into that category you will not pay any extra taxes upon the sale of your home.
Sara Orrange
Government Affairs Director
Spokane Association of REALTORS…”



I guess what it says is that if you have a home sale and you are not covered by the 250/500,000 exclusion, you would have to pay tax on the gain.



You can relax, just a bit.
 
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