Hidden Real Estate Sales tax in Health care bill

flourbug · 09-14-2010, 02:36 PM

Starting in 2013, there will be a 3.8% Sales Tax when you sell your home.

Read all about it - http://canadafreepress.com/index.php/article/27634

rryan · 09-14-2010, 03:18 PM

I really think they are trying to provoke something serious.

Twoolf · 09-14-2010, 03:50 PM

I don't think most of that made it to the final version. Have to do some research though.

Ought Six · 09-14-2010, 04:18 PM

A new federal sales tax. The camel's nose is under the tent. They knew that a national VAT or sales tax on top of the income tax would have been political suicide, so they are taking it one bite at a time instead. Once this sneaks by, they will simply expand the tax to cover more and more items until it is an across-the-board federal sales tax on everything.

Antropologo · 09-14-2010, 05:58 PM

It's not a real estate tax per se; rather a tax on investment income that will be levied on the "wealthy". Regardless of that, it's still a new tax

Here are a couple of perspectives that help clarify matters:

http://www.factcheck.org/2010/04/a-38-percent-sales-tax-on-your-home/

http://www.snopes.com/politics/taxes/realestate.asp

flourbug · 09-14-2010, 06:02 PM

Factcheck and Snopes are both tools... I don't believe either one of them. But I do suspect you may be right as *investments* are being taxed at a 3.8% rate. If a senior sells their home for retirement they have to pay capitol gains taxes, and now it looks like this is added on top to support health care.

Ought Six · 09-14-2010, 06:46 PM

fb:

Quote:

"But I do suspect you may be right as *investments* are being taxed at a 3.8% rate."

Investments are not taxed until sold, and then the proceeds are usually liable for capital gains tax (which is a heck of a lot more than 3.8%). This is a new, additional federal tax on top that which only applies to real estate, and as pointed out, only on the amount above and beyond the $250k/$500k limit. It is another in a long line of 'eat the rich' policies.