3.8 sales tax on real estate
 

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Why yes, we had to "Pass this Bill so we know what's in it." Seems the more we find out, the less we like it and the more money it is costing us.

Please post a link to the info.

Pull up the bill google it and read it if I remember that paragraph I'll post it

Please do. As I recall, the bill is over 900 pages.

It is not on all real estate transactions. It is only on "the rich". It is on profits over the capital gains threshold. Some of you may be surprised to find out you are rich.
JJ

As I recall,this tax applies "only" to those with incomes over 200,000 !!!

HOWEVER, this bill is just laced with little fingers that will invade all aspects of our life from 2014 and on.

Well....ya know what they say....idle hands are the devil's playground. :grumpy:

I think you may have nailed it.

Wow, two minds going to waste.

You know I sat and this in 2010 and because of it is why I am so against obama. Him and his civil 6000 man army to help enact the health care. You folks have time read it for yourself.

Good grief.. Yet another lie. Yet another straw man argument.

THERE IS NO 3.8% TAX ON ALL REAL ESTATE TRANSACTIONS.

How gullible ARE some of you people that you'll latch onto ANYthing without checking your sources? Ten seconds on Snopes finds this:

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

That 3.8% tax is a *MEDICARE* Tax, for starters - not a sales tax. The tax is on CAPITAL GAINS, for another. On top of that, it's on PROFIT of ABOVE $500,000. So if you made a PROFIT of $501,000 - you would pay a tax of $38. That $500,000 is TAX FREE because of the homeowner exclusion that you can now take MULTIPLE TIMES in your life (it used to be a one-time only deal)

And, of course, you're aware that it's not just as simple as "I bought my house for $50,000 and sold it for $600,000". If you paid $10,000 for new windows 20 years ago, your 'purchase price' is now $60,000. You get to include all that stuff you do in home improvements and repairs. In my case, just over the past few years I've put some $50,000 in my house and we're looking at more later on.

So that "tax on all real estate transactions" is actually a Medicare tax on capital gains over $500,000.


So, DDoug, that example of having to pay $3800 when you sold your house for $100,000 is flat out WRONG. You'd have to get a house for FREE and sell it for $600,000 in order to pay that much tax.

I mean the following in all sincerity - DDoug - where did you hear this and is there a reason you didn't check it?

djplong thanks for debunking yet another lie posted here as fact. It's sad.

Snopes is run by Soros or what ever his name is obama is connected there and Weather Underground they are all together. And as far as posting links you folks dont want to research any thing for yourselves. Ok tax on the rich what is that, socialism . It doesn,t work it did not work in Russia. It,s time to wake up American is a lost cause. We had a saying in Miami last one to leave grab the flag there won't be a flag for America

No Chance
 

If all the Republicans in the Congress signed Grover Norquist's "pledge", how is this thing ever going to get passed? Particularly by the Senate, where the GOP can certainly block such a bill or amendment.

Beyond that, what member of Congress in his right mind would vote for such a bill? Talk about committing suicide in an election year for many of them.

I'm not too worried that this would ever pass muster or the Congress.