Can anyone confirm this? House tax

[captain]

Received this via email, can anyone confirm if this is true or not? If not I will remove it from the forum as to not spread rumor.

When does your home become part of your health care? After 2012 !

Your vote counts big time in 2012, make sure you and all your friends and family know about this!

HOME SALES TAX

I thought you might find this interesting, -- maybe even SICKENING!

The National Association of Realtors is all over this and working to get it repealed, -- before it takes effect.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 it goes into effect in 2013. Why 2013? Could it be so that it doesn’t come to light until 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 screw the retiring generation, -- who often downsize their homes. Does this make your November, 2012 vote more important?

Oh, you weren't aware that this was in the ObamaCare bill? Guess what; you aren't alone! There are more than a few members of Congress that weren't aware of it either.

You can check this out for yourself at:

ObamaCare Flatlines: ObamaCare Taxes Home Sales - Clobbers Middle-Class Americans - Blog - GOP.gov
I hope you forward this to every single person in your address book.
VOTERS NEED TO KNOW.

[BusaBret]

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

From my dunce stool

[cheferman65]

They make it look like it applies to most of America when it only applies to about 10%.

They assume because you make less than 300,000 a year you are uneducated and can't read.

$300k annually, middle class according to some. Lol.

Who's out of touch?

Sent from my iPhone using Forum Runner

[Warchild]

This is merely typical GOP horsecock scare tactics.... the first clue was that it was a chain email from GOP.gov.....

Germane de-bunking comments from Snopes:

The referenced tax is therefore not a tax on all real estate sales; it is an investment income tax which could result in a very small percentage of home sellers paying additional taxes on home sales profits over a designated threshold amount. In short, if you're a "high earner" and you sell your home at a substantial profit, you might be required to pay an additional 3.8% tax. However, given that only about 3% of U.S. households have incomes that exceed the specified income threshold amount, the existing home sale capital gains exclusion on a principal residence ($250,000 for individuals, $500,000 for couples) still stands, and the national median existing-home price in January 2012 was only $154,700 , the Medicare tax will likely affect only a very small percentage of home sellers when it is implemented in 2013.

[Easy E]

Hey if it's on there website it must be true!!! What a bunch of bull dookey.

[GsxrBots]

I'm not gonna say that it isn't a scare tactic, but I am wondering what it is doing in that bill? Why not just have a new bill just for that? Why must they always sneak things into bills to try to cover it up?

[skydivr]

The amount is correct. It's going to add $4K to $5k in tax when you sell your home. Another way that this administration sneaks in more taxes on those "who are not paying their fair share"....

So, if you worked hard, lived within your means and own your home, and you make a pretty good profit, it hits you in the Capital Gain. If you are in debt and underwater, of course it doesn't effect you, because you are the "misfortunate"....

Note: that's ALL investment income (stocks, dividends, ect.) also. Of course it's in 2013 after the election and there's nothing the people can do about it.

This President and his ilk need their azzes handed to them in November; just not sure the public will see it until too late. "THOSE EVIL RICH" who spend (and invest) money, run businesses, provide jobs are just SO EVIL...

[Tufbusa]

DivrMan is correct, this affects more than just home owners. It's a very sneaky way of separating you from your money. We all know how government works, this is the first step to get the camel's nose under the tent. Once it's implemented the threshold will slowly creep down and the rate will slowly creep up until it affects most of us instead of the few at the top. This is the gentle version of lubing everybody up by only affecting those filthy rich people. Then, before you realize it the entire camel is in the tent and you can't get his big double humped arse out.

This white house crew needs their nutsack slit and their leg run through it for this sort of sneaky back door thievery! The reason it's being presented as a "Medicare" tax is because they stole half a trillion dollars from medicare to implement their "Affordable Healthcare"! Now they have to figure out how to provide for the lose of medicare dollars. The amount of money they will collect from this 3.8% of the highest income earners is a drop in the bucket for what is required and won't amount to much. We all know the money is in the masses so stand by and cover your caboose with both hands because both you, me, our children and grandchildren are about to get hosed. If this program is not defeated by a new administration, don't bother covering your . Instead buy a king size jar of Vaseline cause you are going to need it!

Welcome to "Hope & Change" and the fantasy land of the un-informed voter!

[dadofthree]

I don't consider myself rich, but I have been very practical and I have investments. It just never ends

[Blanca Busa]

Who can sell their home and turn a profit now anyway?
Mines worth about half of what we paid for it

[GsxrBots]

Who can sell their home and turn a profit now anyway?
Mines worth about half of what we paid for it

Maybe if you people would stop eating people's faces off, someone might want to live down there..

[lil charlie]

Maybe if you people would stop eating people's faces off, someone might want to live down there..

What do you mean "You People"

[lil charlie]

Who can sell their home and turn a profit now anyway?
Mines worth about half of what we paid for it

It's not just houses...Its all investments. Lets say you had the foresight to see which areas around you were going to become popular and you snagged up some cheap land only to turn a major profit on it a few years later. Bam, Capitol Gain. Or you bought some cheep stock only to have it go through the roof and you cashed out.

I agree with Bots...Im sick and tired of our government sneaking in stuff like this into bill. Each item should have its own bill....no sweeping anything under the rug!

I also Agree with Tuff. If this passes I see the tax rate increasing and the $ threshold decreasing so it will affect more people and generate more taxes.

[StromBusa]

snopes.com: Ode to the Welfare State

here you go Cap

[Busa1166]

posted to face book

[warp10]

Same bill, more stuff

Though few Americans are aware of it, the unconscionable ObamaCare ruling of Chief Justice John Roberts stands to provide Barack Hussein Obama unlimited and fundamentally irrevocable power less than 2 years after the November election. For should he win, Obama will acquire the “legal” authority to select 15 individuals whose word will automatically become the law of the land.
Within the 2500 pages of the comically-named Patient Protection and Affordable Care Act is cached the 2014 establishment of the Independent Payment Advisory Board. Nominated exclusively by the president, the 15 members of the Board will ostensibly be tasked with “…prevent[ing] per-enrollee Medicare spending from growing faster than a specified target rate.” To accomplish this congressional mandate, ObamaCare has provided the Board with the authority to submit legislative “proposals” to Congress; proposals which will automatically become law unless both Houses AND the President agree upon and pass into law a substitute measure.
In short, “the Board’s edicts …become law without congressional action, congressional approval, meaningful congressional oversight, or being subject to a presidential veto.” Moreover, citizens will have NO authority to challenge the Board’s pronouncements in court, for ObamaCare “…specifically states that the Secretary [of Health and Human Service’s] implementation of IPAB’s proposals is not judicially reviewable.” Therefore a group of presidential, POLITICAL appointees will have the practical power of shaping and imposing upon the American public, the laws of the land! For in addition to creating edicts loosely attached to Medicare and its myriad applications, in 2015 the IPAB will be permitted to impose price controls, taxes and “…ration care for all Americans whether the government pays their medical bills or not!” Thus even the Medicare stipulation will no longer be a practical deterrent to the Board’s authority.
How is all of this possible? According to the Cato Institute, “…by carving out a discrete list of limitations on the Board’s delegated powers, the [Affordable Care] Act implicitly gives IPAB otherwise unlimited power to exercise any enumerated congressional power with respect to any governmental body, industry, property, product, person, service or activity.” And just like Congress, the IPAB has been given the authority to appropriate federal funds and impose conditions for their receipt. This means “the Board could propose…to require states to implement federal laws or to enact new state laws in order to receive federal funding.”
Incredibly, Congress does not have the authority to do away with the IPAB until 2017, when a 3/5 vote by both Houses must accompany the signature of the President! Clearly, Barack Obama and the radically leftist, 2008 congress went to extraordinary lengths to shelter their conspiratorial overthrow of our constitutional Republic from standard methods of repeal.

Read More at Western Journalism. By Doug Book.

[skydivr]

Here's another one coming your way soon...Thanks Dodd/Frank!

Remember that Swipe Fee Thing?

In the very near future the consumer is going to discover that everything they purchase with a credit card is

going to become just a little more expensive and possibly a lot more expensive. For many years the major

credit card issuers have prohibited merchants from charging consumers a fee to use their credit cards. It is part

of the agreement that a merchant enters into when they agree to take credit cards. The card issuers consider the

merchant’s right to take the card for payment as a net benefit to the merchant as it makes it easier for

consumers to make a purchase. The credit card issuers assessed the merchants a swipe fee that could be as high

as 50 cents a transaction.

One of the provisions of the Dodd Frank Bank Reform Act was to limit those swipe fees. The fees were

collected by the banks that issued the cards – not Visa and MasterCard or the other card issuers. The change in

the law essentially cost banks close to $9 billion in revenue and it was at about that time that many banks

began to charge their depositors for many services that used to be free. Score one for the merchants but it came

at the expense of the banks and ultimately the consumer. That hapless consumer is about to take another one

for the merchant team.

The card issuers are being sued by the merchants and the settlement is likely to involve an agreement to

allow merchants to assess the consumer a fee if they want to use a credit card at their establishment. This is

another elements made possible by Dodd Frank. The consumer is paying for what the banks used to assess the

merchants and now the consumer will pay the merchant fee that was once paid by the merchant so that

consumers could have the convenience of using a credit card. There are no guidelines at yet on what that

charge would be and merchants would be free to assess any surcharge they deemed appropriate.

Analysis:
The assertion by the merchants that led the lawsuits (grocery stores like Kroger and Safeway as well

as large operations like Wal-Mart) is that once consumers are paying these surcharges the credit card issuers

will surely drop their fees in order to keep consumers from abandoning the cards. Past experience would show

that such a fee decline is highly unlikely and the merchants, banks and credit card companies will simply wait

for the consumer to eat these additional fees as they have eaten all the others that have hammered them over

the years. It has become very cumbersome to use checks and cash is not as convenient as it once was either.

The consumer is trained to the card and will doubtless fork over the 15 cent to 50 cent fee imposed every time

they choose to use the credit card. Score another one for the merchant and wonder again why the Dodd Frank

law was supposed to be so helpful to the consumer.

The discussion has ostensibly been between the merchants and the banks and the card companies and it has

been over who pays the swipe fees. In the end the answer is that neither the banks nor the merchants nor the

card companies will pay them – we all will.

[Blanca Busa]

What do you mean "You People"

Really! I'm offended he would call me 'you people' when it's 'them people' who's fault it is

[Twobrothersbusa]

The tax applies to investment earnings which includes taxable real estate sales. However, the sale of a principal residence (with certain exclusions), is not taxable unless the "gain" (not the proceeds) exceeds 250K per person or 500K on a qualifying joint sale. Therefore substantially all sales of principal residences will not be impacted by this tax, regardless of the income level of a tax payer.

[skydivr]

Charlie, how about family farms? Frequently these are waay over the amount of a house and likely have a large capital gain associated w/them...