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Old 07-09-2012, 06:43 PM   #1
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Is this true??

I take it it is for RV's also.



ObamaCare Flatlines: ObamaCare Taxes Home Sales - Clobbers Middle-Class Americans - Blog - GOP.gov
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Old 07-09-2012, 06:54 PM   #2
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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.
But then our supreme council just stated the health care fee for N OT purchasing insurance is indeed a TAX so keep tuned in for more to follow
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Old 07-09-2012, 06:54 PM   #3
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From what I understand there is a proposed tax of 3.8% on the sale of property but I don't know the specifics of who (and under what circumstances ) it will affect. There are a number of new taxes buried in Obamacare that have not seen much light. There are a few good ideas in the law but it will be very expensive.
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Old 07-09-2012, 06:59 PM   #4
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I believe it is any home sale. Income makes no difference.
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Old 07-09-2012, 07:07 PM   #5
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Quote:
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Apparently, you're figuring to sell your RV at a profit? Hmmm.... Based on your source of information, this has all the earmarks of "ye olde slippery slope".... Good luck with it.
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Old 07-09-2012, 07:23 PM   #6
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snopes.com: Home Sales Tax
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Old 07-09-2012, 07:26 PM   #7
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Typical media hype. Report the bad 5% and never mind the rest of the story.

Ken
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Old 07-09-2012, 07:37 PM   #8
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Typical media hype. Report the bad 5% and never mind the rest of the story.

Ken
Boy, could I run with that!!

Some cases they report the 95% bad and never report the good. Or they report the 5% good and never the bad.
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Old 07-09-2012, 07:44 PM   #9
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I'm sure we won't know for some time what those fools in Washington DC put in that mess. There can be a lot of crap in 2700 pages of lawyerese. (moderator edit)
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Old 07-09-2012, 07:50 PM   #10
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OK folks, I've edited out the names of specific politicians a bit already and you all know we're on a slippery slope so please don't go too far toward that "P" word.

Thanks for your help.

Rick
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Old 07-09-2012, 07:54 PM   #11
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Quote:
Originally Posted by Perry White View Post
I believe it is any home sale. Income makes no difference.
The article was very clear that the tax only applied to "High Income" folks,

[quote=Article\Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers[/quote]

I also note you folks are yammering about sales tax, This is not a sales tax, there is no federal sales tax, not now and not under this bill. Sales tax is up to the state and may well apply to ANY sale of a house, depending on your state law.

This is an INCOME tax.. That too was clear, in the sentence I quoted, and in the rest of the article.

Read the article. I did.
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Old 07-10-2012, 05:39 PM   #12
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Quote:
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I believe it is any home sale. Income makes no difference.
Have you actually read anything about this, or is this just a cleverly disguised smear? It certainly DOES NOT apply to all home sales, not even close. In fact, it won't effect all that many of us. This thread started out with an erroneous assumption, and what appears to be a one-sided agenda. Sorry Perry, but I gotta tell it like it is....

I did some checking, and I agree with the posts by djbmsu and wa8yxm, who I think get this basically right. This "gains tax" will apply to virtually NO middle income earners, NO lower-income earners, and in fact will MOSTLY apply to the couples who earn more than $250,000 per year, AND who also exceed the already allowable tax-exempt capital gains of $500,000 on the sale of their principle residence.... That's GAINS, mind you. I figure if you and your partner are earning that much annually AND the capital gain on your house sale is OVER a half million, well... maybe you can give up 3 or 4% of the amount OVER that $500,000 gain to help less fortunate folks with their Medicare issues.

So to answer your OP question 'Is this true?"... No, not really.
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Old 07-10-2012, 06:22 PM   #13
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Of the 2700 pages, they probably have maybe 20 pages that pertain to the bill. The rest of it is pork added for all of the pet projects that get to tag along.

Ken
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Old 07-10-2012, 06:40 PM   #14
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Of the 2700 pages, they probably have maybe 20 pages that pertain to the bill. The rest of it is pork added for all of the pet projects that get to tag along.

Ken
Wonder how much the pork costs? Might be more than the tax.
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