[OP]
Contributor
My brother told me today that starting 1-1-13 the Federal Government is going to tax the sale of houses. A 3.8% tax will go to the Feds on the sale of any home. He says this tax is part of the health care bill.
Is it true, and if so, why does it start 1-1-13 (I think I might know the answer to that).
C'man, someone out there must have read all 2700 pages of it. True or urban legend?
Rick Potter
Contributor
I haven't read all 2700 pages but I really doubt if the feds would put a tax on home sales. It wouldn't raise enough money to offset how upset you'd make people. People sell homes and don't pay a lot more than 4% to the agents who handle the sale (buyer and seller) - at least here in CA. 3.8% would be a very significant additional cost.
So my guess is - urban legend started by someone who opposes the health care bill.
Mike
Last edited by Mike Henderson; 04-02-2012 at 5:20 PM.
Go into the world and do well. But more importantly, go into the world and do good.
Member
From FactCheck.org: Q: Does the new health care law impose a 3.8 percent tax on profits from selling your home?
A: No, with very few exceptions. The first $250,000 in profit from the sale of a personal residence won’t be taxed, or the first $500,000 in the case of a married couple. The tax falls on relatively few — those with high incomes from other sources.
Every morning I seize the day - but I lose my grip when I grab my coffee. <*//><
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By another with my hairstyle...
I have to wonder why so few bother to check resources at their fingertips.
The Annenberg report took me two minutes longer to find than Larry...
This law is a case of TL,DR.
I now understand why there's so much opposition to the Affordable healthcare act, it includes taxation on wealthy people (horrors) to cover the costs.
Contributor
Then you've understood nothing.Originally Posted by Jim Matthews
Contributor
The wealthy are the scapegoats of the Left. Who do you tax when the wealthy are no longer qaround?
Member
I heard that if you are really sick, they make you sell your home, collect the tax, then send you to the death squads.
Contributor
I have yet to meet anyone that does want the health care act. Seriously.
Why is it being pushed apon us and why are we standing here like sheep.
Its confusing to me.
And by the way, although I am not rich, I do not agree with tax laws that single out those that work hard and are sucessfull.
Larry
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