Gotta love socialism.
bttt
Just now figuring this one out? I wonder how many others have yet to stumble across this “you’re-taxes-won’t-go-up-one-single-dime” tax.
Very real and all of this has been known for some time now.
The beneficiaries? The federal government both by taxation and unimpeded growth.
Obama is a disgusting piece of garbage.
This needs to be publicized every day by the GOP. It is indeed unreal and will be a real burden for many, many people.
Again (and again, and again, etc.).....
the founders of this country took up arms and fought against Britain for much, MUCH LESS than what we have already put up with. I have been forced to come to the conclusion that we must indeed now be a nation of pu$$ies.
What this administration and the DemocRats have done goes far beyond mere ‘taxation without representation’. It is out and out treason against the nation and tyranny against all Americans (except Muslims, of course).
The silence from most Americans, except for the occasional Tea party rally, is deafening....while the muffled lamestream media refuses to report anything negative at all about their “”messiah””. It’s absolutely surreal.
The original article was published on March 28, 2010. Not exactly “breaking news.”
My understanding this is only on capital gains on over 250k. (bad enough but still...) Anyone know if this is the case or if it is ANY real estate transaction?
The only things people need to know is any federal version of Obamacare is unconstitutional since Article 1 Section 8 does not specifically grant Congress the power to regulate health care! The people are not bound to comply with any unconstitutional act. The people are the government, not Congress, not the White House and not SCOTUS! They operate only at the consent of the governed! The people do not consent to having this unconstitutional socialism shoved down their throats!
March 28, 2010 is breaking news?
Who thinks Republicans will actually repeal this disaster???
The industry will adjust.
Simply put, a bridge loan will be used to absorb any revenues made from the sale. Immediately prior to, concurrently or consecutively, the purchase of another home will consummate. Hence no revenues. The closing attorneys will make more now. They’ll love it.
But, if you’re selling and not re-investing you will surely have to find another way to avoid the tax.
The actions of this Congress belie their faith in the “commerce clause”. This tax, coupled with cap & trade’s energy efficiency impost on home sales and requirements for federal inspectors, will kill the real estate industry. That will have the added effect of immobilizing the populace; thus controlling them more efficiently.
When do we start getting Soylent Green?
Of course, that's also what they said about the Alternative Minimum Tax.
What does selling your home have to do with healthcare???????????
Is for investment homes such as second homes or for a primary resident?