Real Estate Tax in Health Care Bill

[Sourdough]

Got this in am e-mail from a friend.



More wonderful change you can believe in!

Another Obama Nightmare!

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 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.
 
 
 
 
 

[MGMorden]

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

It's partly true, partly un-true.

Based on my reading, essentially you are allowed up to $500,000 in capital gains threshold.  If the sales price of your home, when added to your annual income, breaks $500,000, then you have to pay 3.8% essentially as an income tax on the amount over the $500,000 limit.

So for you to owe $3,800 on that $100,000 home you'd already have to have an annual household income of $500,000 or more.  If you made between $400,000 and $500,000 per year you'd owe some fraction of that $3,800, and if you made less than $400,000 then you wouldn't owe any additional tax at all on a $100,000 home sale.

[BBF]

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

It's partly true, partly un-true...................

Once this linking of health care and real estate selling comes into effect, the numbers/income/sale price thresholds can be "adjusted"  downward very easily.

[gypsyman]

There's been a federal tax when you sold your home for years. When my wife and I signed the papers for our house in the mid '90's, it was already there.
But now, the fed's are thinking of putting a tax on money you switch in your bank accounts. A 1% tax, if you go to your own bank, and move money from your savings to your checking. And, I'm not talking about from one bank to another, it would apply just from one of your accounts to another. How about that for a hidden tax!! gypsyman

[LONGTOM]

Like ole nancy tarface said before it was passed, "LET'S JUST PASS IT AND THEN WE CAN FIND OUT WHATS IN IT" !

Heck, they still don't know all that's in it and might not ever really know because most still haven't read it completely.
Dumb A#$h#%$&.




LONGTOM

[beerbelly]

There is also law in the health care bill that you must report to the government if you buy or sell any gold. I can guess what that is all about!
                                           Beerbelly

[The Hermit]

Tip of the iceberg. This bill is still being tweeked by staffers with the help of lobbyist. The problem with this bill that resulted in it being passed without being read, was that page after page made references to existing laws. Therefore, in order to read it, you had to continually stop and research the laws referenced.
Great way to run Congress, don't you think?
Staffers and lobbyists wrote this piece of crap. "No new taxes on anyone making less than $200,000/yr."
That's pure BS, from the mouth of a liar who was after power and control through socialism.
Next up will be Hillary. She will try to run on the idea of fixing things. I'd sooner vote for any American indian foolish enough to take the job. Time to give the country back to the indians.

  The Hermit

[billy_56081]

Maybe spirithawk will run. Nahh, he strikes me as too wise to get in that mix of vipers.

[Oldshooter]

Heard a tidbit today about the Government taking names of Insurance company's who are complaining about the obama care driving up rates and causing them problems. Also said was that when the new adjustments are made any companies on the list will not be given info that they need to proceed!    

Did a search and found this.....  It ain't a hidden tax but it dang sure is some more reasons to question obama care and the the gestapo that forced it through!

http://www.liberalwhoppers.com/2010/09/10/the-thugocracy-in-action-health-care-division-%E2%80%93-updated/

Lets all Pray that the lawsuit being brought to "defang" obama care is successful!!!!!  

[LONGTOM]

Also in the bill is a law that if you do more than (don't quote me on this but I think it is $600.00) worth of business a year with any one company, you have to report it on you income tax return.

In other words, you are doing the IRSs job of making sure that most all sales are reported by businesses to the IRS.
Buy a new riding mower, you have to report it.
Buy a new gun or two from your local gun shop that is over $600.00? in a year, report it.
Reloading supplies, ammo from the same company, report it.

What the heck is this country doing?
If it wasn't for my family, I would go back in the hills somewhere and forget about the rest of the world!



LONGTOM