Posted on 09/25/2010 8:54:04 PM PDT by NavyCanDo
now i will have to tell my tenants the rent is no longer $500/mo., but instead it is 500 x .038 = 519. i will pass the tax along and force them to see how much it is instead of burying it by continuing with a rounded off amount.
I’ve already sold our home; we’ve purchased our retirement home and upon our death’s it will be burned to the ground to prevent the evil from having it.
I like your style!
Of course, it has nothing to do with income.
You have an exclusion of $500k from income but it has nothing to do with the sales price which they are going to tax.
well... Nancy did say we would find out what was in the bill AFTER they passed it!
ROFL
Man November can’t get here soon enough.
My husband, who has Parkinson’s, and I are thinking of moving to be closer to our children and grandchildren. It is half way across the country from us.
What is stopping us? Our fear that we will not be able to find doctors who will accept us as medicare patients, or doctors who are the best in their field.
We now have long term relationships with our docs, and fear the loss of care more than anything else, thanks to Oh!
I did know that.
This guy started taxing the poor in his first week on the job when he passed cigarette tax hikes to fund SCHIP. He’s been taxing (& planning for taxation) ever since.
Think I’ll let my tagline speak for me on this one.
The income tax was originally sold using the same language "it will only affect the very rich".
The con job is the national media not pointing out how the wealthiest among us already pay a disproportional amount of the tax revenue and the only way to get the money they want is to tax the huge middle class $50K-$250K.
FWIW, investment in commercial real estate outside the USA is a growing field.
Isn’t this applicable to only home sales over a certain amount?
>Our middle kid and her husband as well as our youngest and her husband voted for this nightmare in the WH.<
are they admitting that they made a mistake though or are they still suffering from Bush Derangement Syndrome?
I’m not making Odungface’s illegitimate, corrupt thugs any richer. I talked to several friends about this last night and they are all going to insist renters pay in cash and give them a discount for doing so. 99% would rather pay in cash, no receipt given, than pay more and pay the tax. Some already do insist on cash and no more leases. Nothing on paper, nothing that can be proved. What he will create is a totally underground market.
All this will do it jack up home prices
If you place a tax on something, it makes its price go up? Good. Let's increase capital gains taxes on stock sales. If we do it right, the stock market will go up to 15,000.
Something tells me that your grasp of economics is elusive.
>Here’s is his goal.
Obama IN HIS OWN WORDS saying His Health Care Plan will ELIMINATE private insurance<
This whole obamacare was written to fail in many ways so that when it was “fixed” it would lead to single payer and a complete government take over.
What in effing hell does this have to do with Health Care? I can’t wait to get out of her for a couple of years.
Our children and grandchildren will be living in Soviet-style apartments.
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Maybe yours, not mine. Mine are already in the process of purchasing homes or condos in another country, just in case. Easy to rent when you’re not using it.
There is no exclusion, though if you sell a vacation home or rental property.
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Such an easy way around this and a legal one. Think about it. :)
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