Is this truthful

Discussion in 'Politics' started by Bob Alkire, Oct 1, 2010.

  1. Bob Alkire

    Bob Alkire
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    Any truth in this? Just got an e-mail on this today.

    Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it?

    That’s $3,800 on a $100,000 home etc.

    When did this happen? It’s in the healthcare bill. Just thought you should know.

    SALES TAX TO GO INTO EFFECT 2013 (Part of HC Bill)

    REAL ESTATE SALES TAX

    So, this is "change you can believe in"?
    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 make 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.
     
  2. targus

    targus
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    The tax is on the amount of the taxable gain which is reported on the Federal Income Return.

    I believe that the first $250k for individuals and $500k for a married couple of the gain is not taxable for the sale of a primary residence - that same exemption applies to the healthscare tax.
     
  3. Bob Alkire

    Bob Alkire
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    Thanks, my friend.
     
  4. ktn4eg

    ktn4eg
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    Aren't sales taxes a function of state and/or local governments? If that is the case, it would seem to me that the amount of sales tax would vary from state to state (and, in some cases, within local juristictions of a state).
     
  5. targus

    targus
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    No, it's not a State sales tax.

    It is a part of the healthscare bill.
     
  6. preachinjesus

    preachinjesus
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    http://www.snopes.com/politics/taxes/realestate.asp

    Mostly false.

    I'll tell you what, given what the government is going to do to anybody making over $250k a year I'm gonna start underacheiving a little bit...well I'd need to start making that amount before I underacheived.

    Sorta puts a limit on my desire to be the next high dollar tele-evangelist. ;)
     
  7. HankD

    HankD
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    We've come full circle.

    Taxation without representation.

    We never got to see the Health Bill, now you know why.

    Somehow it became a Real Estate Tax Bill as well.

    There are more surprises to come.

    HankD
     
  8. Don

    Don
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    We all knew it had to be paid for somehow; and we've all been waiting for the explanation on how.

    Where's CrabtownBoy? What does he think of this?
     

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