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Old 09-14-2010, 02:36 PM   #1
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Default Hidden Real Estate Sales tax in Health care bill – Surprise!

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
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Old 09-14-2010, 03:18 PM   #2
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I really think they are trying to provoke something serious.
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Old 09-14-2010, 03:50 PM   #3
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I don't think most of that made it to the final version. Have to do some research though.
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Old 09-14-2010, 04:18 PM   #4
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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.
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Old 09-14-2010, 05:58 PM   #5
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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
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Old 09-14-2010, 06:02 PM   #6
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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.
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Old 09-14-2010, 06:46 PM   #7
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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.
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