Illegal aliens are only exempt from paying, they get the benefits. That isn’t the worst part of this TAX bill. Wait till peolpe who sell their homes or real estate find out they owe Obama 3.9% of the purchase price. That should do wonders for the housing market and the economy. People who are underwater will be an additional 3.9% when the TAX takes effect.
Are they exempt from treatment denial by the shovel-ready ∅Care Death Panel ™ ?
Wait till peolpe who sell their homes or real estate find out they owe Obama 3.9% of the purchase price. That should do wonders for the housing market and the economy. People who are underwater will be an additional 3.9% when the TAX takes effect.
False.
"...…once more rumors are circulating on the Internet and by e-mail that the health care reform law enacted two years ago includes a 3.8 percent transfer tax on real estate starting in 2013. That rumor is not true; NAR has material available to you to explain how that 3.8 percent tax works. It’s a tax on a very narrow band of investment income for high-wealth households (those who earn $250,000 in a joint return or $200,000 as an individual) that could come into play on the sale of a house if the sales gain is more than $500,000 for a married couple or $250,000 for an individual."
Source: National Association of REALTORS®
Is it 3.9% for all home sales or just ones over a certain amount?
Yes, the health law will impose a 3.8 percent tax on investment profits and other non-wage income starting in 2013. But that tax applies only to couples with adjusted gross income of $250,000 (or individuals with AGI of $200,000). About 95 percent of households make less than that, and will be exempt from the law no matter what. In addition, couples who sell a personal residence can exclude the first $500,000 in profit from tax ($250,000 for singles). That would be profit from a home sale, not proceeds. So a couple that bought a house for $100,000 and sold it for $599,000 would owe no tax, even under the health law.
http://www.forbes.com/sites/beltway/2012/04/02/there-is-no-obamacare-tax-on-most-home-sales-really/