Image by Mike Licht, NotionsCapital.com via Flickr
DID YOU KNOW THE LEADERSHIP OF SHAME THE 2011 CONGRESS DID THE BIG SNEAKY ON YOUR HOME !!!
The National Association of REALTORS is all over this and working to
get it repealed, before it takes effect. But, I am very pleased we
aren’t the only ones who know about this ploy to steal billions from
unsuspecting homeowners. How many REALTORS do you think will vote
Democratic in 2012?
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 health care bill and goes into effect in
2013.
Why 2013? Could it be to come to light AFTER the 2012 elections? So,
this is “change you can believe in”? Under the new health care bill
all real estate transactions will be subject to a 3.8% Sales Tax.
If you sell a $400,000 home, there will be a $15,200 tax. This bill
is set to cheat the retiring generation who often downsize their
homes. Does this make your November and 2012 vote 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
http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home<http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home>
Keepin em honest folks - vote your wallet.
Berny Dohrmann
{ 2 comments… read them below or add one }
The author says: keepin em honest????? This is an example of an attempt at hysteria at its best. Being kind about it, I wouldn’t call this lies, lies, lies. I would call it irresponsible reporting, crybaby news, high school bullying, scare tactics. Please research articles like this before you give up the ship and change alliances. And for those who align with this type of propaganda, reconsider y0ur alliances. Don’t believe everything you hear. In this case, I looked up the National Association of Realtors and found the following publication which disagrees with what this author has written. Please open it and read it. I also went to the source: the IRS site searching for the health care act and I read the applicable provisions to this.
Here in brief is what the provision really says: starting in 2013 you will pay a tax of 3.8% on investment income and taxable capital gains only if your adjusted gross income exceeds 200,000 (if you are considered single) or 250,000 (if you file a joint return) and even so you may not even pay the full tax then. Further, and this is to the point, your house sale must produce a taxable gain or there will be no tax on the sales. Most primary residence sales do not produce a taxable gain.
The reference to the National Association of Realtors’ full publication and explanation is here:
I invite you to read it and then decide for yourself and I invite you to question these kinds of statements in the future because there are people out there who think you are stupid and think you can be taken over at their own gain and your loss. Show these kinds of people that you are not stupid at all but interested in uniting all of us with each other to form a secure and peaceful world for our children. And, above all, do your research in forming your opinions.
Well not really -
Its a new tax on the wealthy – but it is – snuck into an odd legislation which is less than forthright – we argue the riders and the approach to sneak these clauses in non financial legislation should be upgraded to be more open to debate – longer process – and more transparent assocation with appropriate bills – I agree on the aggerated hysteria aspect of the mis reporting – still everyone needs to be alert to these changes. B