Fwd: Fw: Will You Sell Your House after 2012?

Date: Wed, Nov 2, 2011 at 5:03 PM
Subject: Fw: Will You Sell Your House after 2012?
To: "MyRightWingDad@gmail.com" <MyRightWingDad@gmail.com>

So easy to be ignorant...
Subject: Will You Sell Your House after 2012?
Will You Sell Your House after 2012?  
The National Association of REALTORS is all over this and working to get it repealed, before it takes effect.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 steal from 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
I hope you forward this to every single person in your address book. VOTERS NEED TO KNOW.


Ken said...

The rich bastards that start these lies surely have something to worry about but the poor uninformed ones who forward it will most likely never understand the damage they do.

The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. And even for those who have such high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal residence — or to the first $500,000 in the case of a married couple selling their home.


Anonymous said...

Virtually no one will be affected by this, and paying a few thousand dollars on a sale of a $400,000 home is a problem most Americans would love to have these days.

Wikipedia describes it like this:

"[An] additional tax of 3.8% will apply to the lesser of net investment income or the amount by which adjusted gross income exceeds $200,000 ($250,000 for a married couple filing jointly; $125,000 for a married person filing separately.)"

Home sales are capital gains, and that only applies to the difference between the price you bought it at and the sale price (that's why it's capital gains).

Also note that:

"Homeowners who sell their primary residence can exclude up to $250,000 (or up to $500,000 for married couples filing jointly) in capital gains from their taxes."

So in short, unless you have a million-dollar home that's been gaining value in this collapsing real estate market and you're in the top 5% of income earners (or top 1%-ish of couples), you don't need to worry.

Tiago said...

I can´t disagree with a tax who serve to pay health care to poor people. Don´t you know that we are the richest country in the world and it looks like million of our people doesn´t have the right of health! We have a worse healthy system than 3dr world countries.
This tax will not prevent to sell house quickly, and no one is going to loose that much money. This is a fair tax paid for the richest part of the society in favor of those who need it.

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