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The National Association of REALTORS is all over this and working to get it repealed, before it takes effect.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.

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 screw 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

Settling the Question of a Real Estate Tax in Obamacare

SOME INFO:

Income Period:

Applies to all tax years after December 31, 2012.

Included Transactions: (subject to the limits below)

Gains from the sale of homes and other non business property
Interest Income
Dividend Income
Annuities
Royalties
Rental Income
Income from Trading financial instruments and commodities (stocks, bonds etc)

Limitations:

Lesser of the Net Investment Income or the Excess of Modified Adjusted Gross Income over a threshold amount of usually $250,000 for joint returns and $125,000 for married filing separate returns and $200,000 for all others.
If you are filing a joint return and realize a profit on your home less than $250,000 you should be ok unless you get hit with capital gains taxes. Also, the current law does not discuss Alternative Minimum Tax ramifications.
If you realized a profit of $500,000 from the sale of your home and you are filing jointly, it seems like you would have to pay 3.8% times ($500,000 - $250,000) = $9,500.

You should obviously talk to your tax consultant if you are thinking about selling your home around the start date of January 1, 2013.

I hope you forward this to every single person in your address book. VOTERS NEED TO KNOW.


Just some random facts on Obamacare:


ObamaCare's other fees and taxes include:

Penalties on individuals. Individuals will pay a yearly penalty of $695, or up to 2.5 percent of their annual income, if they cannot show they have purchased a government-approved health policy.

Penalties on families. Families will pay a yearly penalty of $347 per child, up to $2,250 per family, if parents cannot show they have purchased a government- approved policy.

Penalties on employers. Business owners with more than 50 employees must buy government- acceptable health coverage or pay a yearly penalty of $2,000 per employee if at least one employee receives a tax credit.
 

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Thanks for posting. I passed it along to a friend who is looking to sell when his youngest graduates from college in 2013.
 

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After you pay your taxes, you can get your chip

Another thing that is in Obamacare is that by the end of March 2013, all Americans will be required to have a chip. Mark of the beast?
 

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When I hear about all of the arguing and carrying on that goes on in Washington relative to the passing of bills like this, I think about NWO. I believe that when people are elected to serve us in Washington, they are then TOLD what they need to pass, or not. I believe that if they do not pass certain bills and certain ideas in bills, they and their families will be on the elimination list, the list of 250,000,000 Americans to be eliminated. If they tell, they will be on the list. I believe that there is no winning for them, or us.I think that when they get on television and say what they say, they are doing it to save their own hides. I know that in many instances, the bills are written by outside groups and they are told to get them passed.

The same thing is true of the current budget debates and all the crap that is currently going on in Washington.

Although I don't trust politicians, I don't think they are alone in all this.
 

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Good ole country folk
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Can anyone actually post a source document to this claim?

I would like to read a fact based source document before I draw any conclusions to this information.

Thanks
 

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Happy in the hills
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Can anyone actually post a source document to this claim?

I would like to read a fact based source document before I draw any conclusions to this information.

Thanks
Here is some info as to these claims:

The Tax Foundation - Would "ObamaCare" (Health Care Reform) Tax the Sale of Your Home? Probably Not.

Apparently one of the sources of this misinformation is an April 8th blog post from GOP.gov (official website of Republicans in Congress). Nowhere in the blog post does it mention the fact that only those tax returns with incomes exceeding $200,000/$250,000 would be hit. Furthermore, it doesn't mention the huge primary home capital gains exclusion that the tax code already has, which means that only a small fraction of home sales even have a capital gain that is subject to taxation. It's a terribly dishonest blog post whatever your views on health care reform are.

National Review Online has a recent column that has repeated this misleading claim, and there is a new article circulating many websites that makes the claim that it hits all income derived from home sales.
 

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The wanderer
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I saw that the actual wording ws that the tax would be on the 'gain' from the sale of a home or non-business piece of real estate. If this tax is true, then would it be on what you clear above paying off the mortgage? Would it be on what you made above it's worth according to the county tax people? Would it be on what you make above market value? Or above what you paid for it when YOU bought it?

It's stupid that they passed a bill so huge and complex that even the people who passed it don't know what's in it.

I don't think they could implement a chip program for all Americans by March 2013, at least not an inclusive and mandatory program. If they do try, assuming the S hasn't already HTF, that would very well be the trigger.
 

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My fear with this budget deal now before congress is it too will be pasted at the last moment so no one will have time to read it, and God only knows what other sneaky laws and regulations will be tacted on. Prepare for the worst and Pray for the best.
 

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This has been floating around for awhile now and is only partially true.

As I found it:

"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."

This is on "Profits" not sale price. It's basically a tax on capital gains for high earners. I think I can safely say most of us don't fall into this category. So, if I understand it correctly and did the math correct, assuming you're married with a combined income in excess of $250K… you bought a house for $150K a few years ago and sell it for $655K in a couple of years… you'd pay 3.8% on $5,000 of that sale.

PolitiFact | A 3.8 percent 'sales tax' on real estate transactions for health care?

snopes.com: 3.8% Tax on Real Estate Transactions

A 3.8 Percent "Sales Tax" on Your Home? | FactCheck.org

3.8% Real Estate Tax in Health Care Bill - Urban Legends
 

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Seeking The Truth
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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.

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 screw 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

Settling the Question of a Real Estate Tax in Obamacare

SOME INFO:

Income Period:

Applies to all tax years after December 31, 2012.

Included Transactions: (subject to the limits below)

Gains from the sale of homes and other non business property
Interest Income
Dividend Income
Annuities
Royalties
Rental Income
Income from Trading financial instruments and commodities (stocks, bonds etc)

Limitations:

Lesser of the Net Investment Income or the Excess of Modified Adjusted Gross Income over a threshold amount of usually $250,000 for joint returns and $125,000 for married filing separate returns and $200,000 for all others.
If you are filing a joint return and realize a profit on your home less than $250,000 you should be ok unless you get hit with capital gains taxes. Also, the current law does not discuss Alternative Minimum Tax ramifications.
If you realized a profit of $500,000 from the sale of your home and you are filing jointly, it seems like you would have to pay 3.8% times ($500,000 - $250,000) = $9,500.

You should obviously talk to your tax consultant if you are thinking about selling your home around the start date of January 1, 2013.

I hope you forward this to every single person in your address book. VOTERS NEED TO KNOW.


Just some random facts on Obamacare:


ObamaCare's other fees and taxes include:

Penalties on individuals. Individuals will pay a yearly penalty of $695, or up to 2.5 percent of their annual income, if they cannot show they have purchased a government-approved health policy.

Penalties on families. Families will pay a yearly penalty of $347 per child, up to $2,250 per family, if parents cannot show they have purchased a government- approved policy.

Penalties on employers. Business owners with more than 50 employees must buy government- acceptable health coverage or pay a yearly penalty of $2,000 per employee if at least one employee receives a tax credit.
Many don't have a lot of equity in their homes to begin with,especially after the housing bust.
We don't own ou homes anymore,we don't own anything,they have taken it all to hand out to their supporters.
Think you own your home try and not pay whatever taxthey demand from you?
Kinda makes me feel less enthusiastic when working my ass off on this place and doing without to build it up for some breeder on welfare to benefit.
You hear about all this crap about taking away the money they stole from us seniors all our lives,but what about all the welfare recipiants?Why in the hell should we pay for their kids to be born sheltered or fed ?Put their ass in jail and put the kids who will likely grow up to be just like their parents or worse in orphanage.

I tired of working for nothing while others sit on their ass and breed.Most of taxes go to so called schools and welfare.
 

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Seeking The Truth
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Another thing that is in Obamacare is that by the end of March 2013, all Americans will be required to have a chip. Mark of the beast?
I get very upset but this is from the higher powers that we can't fight.Lucifer has taken over and best we can do is save our soul because our body is in jeopardy.
 
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