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I HOPE THIS IS NOT TRUE AND YOU WILL TOO

By
Real Estate Broker/Owner with people first...then business Ran Right Realty 636943 licensed to thrill

It has been reported that hidden inside the new Health care program introduced by Obama and accepted by Congress that is slated to take affect 2014... there is a something in it that says a sales tax of 3.8% will be collected on the sale of every home effective 2013. Supposedly the N.A.R. is on point to get this repealed....

HOW?

Under the new health care bill all real estate transactions will be subject to a 3.8% sales tax. How did something like this happen? Who is able to sneak things in like that and we notice it only after the fact?

BILLIONS

That is $3800 per every $100,000 dollars. That is some serious revenue that will easily add up to billions. I admire the business savvy and thinking process but I object to the sneaky nature of the way it was introduced..

CONGRESS

Congress remains one of the best example in hypocrisy and government continues to add to their distrust rumors and lack of commitment and concern for the average America at large



http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home

Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I have heard this before but I have never gotten clarification as to the truth of it.

Sep 11, 2012 12:23 AM
Raymond E. Camp
Ontario, NY

Good morning Richie,

Yes there is a new tax and no it does not effect ever sale.

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.

Make yourself a great day.

Sep 11, 2012 12:26 AM
Bud & Beth McKinney
RE/MAX UNITED - Cary, NC
Cary/Raleigh/Apex NC - The Team That Cares, RE/MAX United

Rest easy, it's not true for most people.  The truth about the bill is that if you sell your home for a profit above the capital gains threshold of $250,000 per individual or $500,000 per couple then you would be required to pay the additional 3.8 % tax on any gain realized over this threshold.  SNOPES is a good site for those of us that want the true facts.

Sep 11, 2012 12:29 AM
Larry O'Sullivan
Sandy, UT

Richie - anything is possible from an organisation that passes something unread by most. Reminds me of an Australian political parody of decades past where the Treasurer was introducing a tax on breating. He justified his action in that he was being fair by only taxing breating in.

Sep 11, 2012 12:29 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

J

effrey...that is why I am running it past ACTIVERAIN....We need further clarification from our own reliable industry sources...Ahhh...here comes one now Jeffrey

Hello Raymond...good input and well done...Now, each one of us has to assess how this affects our business plans and clients

 

Sep 11, 2012 12:31 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Bud & Beth....to the rescue. Another reliable source here in the rain...thank you

 

Hello Larry...most excellent parody on human nature and how anything is possible...thank you for the chuckles Larry

Sep 11, 2012 12:33 AM
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Investors continue to play a key role in most markets and may incur added taxes. Regards Dave

Sep 11, 2012 12:38 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hello David...fascinating little tid bit you are tendering here....thank you for sharing David

Sep 11, 2012 01:11 AM