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1 posted on 06/02/2010 1:51:55 PM PDT by cocoapuff
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To: cocoapuff

Can you give a more precise link? Your link goes to the toplevel of the site and I couldn’t find this. I thought the 3.8% was levied on investment income. I guess I could see that extended to capital gains on a home, which for properties held for a long time, could be fairly significant.


2 posted on 06/02/2010 1:55:51 PM PDT by Pearls Before Swine
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To: zot; Interesting Times; SeraphimApprentice

“We have to pass the bill before we read it so that we can find out what is in it.” Nancy Strikes Again


3 posted on 06/02/2010 1:57:18 PM PDT by GreyFriar (Spearhead - 3rd Armored Division 75-78 & 83-87)
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To: cocoapuff
Under the new health care bill - did you know that all real estate transactions are now subject to a 3.8% Sales Tax?

Nope. This is a change to increase the capital gains tax rate for sales of home prices above the amount exempt from the cap gains tax. It isn't from the first dollar unless you have a zero cost basis and make a large income. Most home sales probably won't be hit at all.

4 posted on 06/02/2010 2:00:54 PM PDT by KarlInOhio (I am so immune to satire that I ate three Irish children after reading Swift's "A Modest Proposal")
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