Will You Ever Sell Your House (E-mail on ObamaCare tax in 2013)

E-mail ^ | 3-14-11 | Author unknown/GOP

[wac3rd]

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.

Just thought you should know.

SALES TAX TO GO INTO EFFECT 2013 (Part of HC Bill) Why 2013? Could it be to come to light AFTER the 2012 elections?

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 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. Does this stuff 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

Why am I sending you this? The same reason I hope you forward this to every single person in your address book.

VOTERS NEED TO KNOW.

[raybbr]

Actually the big question is: What does real estate have to do with health care?

Regardless of the threshold it's another tax increase on something unrelated to the bill it's in.

[E. Pluribus Unum]

About the time it takes wheelbarrow full of dollar bills to buy a loaf of bread.

[DrC]

“Ever hear of inflation and the Fed running its printing press? “

You’re quite right about that. There is no inflation adjuster for any of the new health law taxes. The 3.8% tax applies to all net investment income (interest, dividends, taxable net capital gains, royalties, rents etc.), which will affect virtually all households above the income threshold, not just those who happen to sell their homes. But due to the lack of an inflation adjuster, year by year a growing number of Americans will get nicked by this and other taxes.

The health bill was laden with all sorts of “stealth taxes” such as these. Another example is the tax on health insurers. This inevitably will get passed back to consumers, costing the average family buying health insurance about $450 a year regardless of income. http://jhpplnewsandnotes.wordpress.com/2011/03/09/case-of-the-premium-tax/

[DrC]

“We’ve got a LONG LONG way to go before we have housing price inflation IMHO”

You may be right, but the issue is general inflation that will carry more and more Americans’ incomes into the range that real estate transactions such as these are taxable. This is by design. It’s a sneaky way for Congress to raise taxes without having to lift a finger to do it. That is, even if the number of home sales remained constant over 10 years, this tax will pull in more and more revenue because more and more Americans will become “eligible” to pay it.

It’s a classic case of “foot-in-the-door” politics: progressives saw an opening and JAMMED the health care law through it. It’s just one of many reasons the whole thing needs to be scrapped entirely.