Real Estate Sales Tax
So, this is "change you can believe in"?
Under the new health care bill - did you know that all real estate transactions will be subject to a 3.8% Sales Tax? The bulk of these new taxes don't kick in until 2013 (presumably after Obama's re-election). You can thank Nancy, Harry and Barack and your local Democrat Congressman for this one. For example, 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. Is this Hope & Change thing great or what? Does this stuff make your November and 2012 votes more important? I HOPE SO !!
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 (result of clandestine midnight voting for huge bills they've never read). AND, there are a few other surprises lurking....
From Truth or Fiction:
Real estate sales will be taxed 3.8% - Truth!
This is true, according to Congressman Mark Kirk of Illinois. Congressman Kirk released a statement on March 21, 2010 on HR-3590 saying that the health care bill will increase taxes "by imposing a new 3.8% tax on capital gains."
The actual tax increases may be generated by the HR-4872 Reconciliation Act according a March 21, 2010 article by Life and Health News Insurance News. This is also confirmed in a March 25, 2010 article by CNNMoney.com that said, "couples making $500,000 in wages will pay an additional $2,250. If they made $1 million, they would pay an additional $6,750. In addition, high-income households would also be subject to a new 3.8% Medicare tax on investment income starting in 2013."
Why am I posting this? The same reason I hope you forward this to every single person in your address book.
People have the right to know the truth because an election is coming in November!