Posted on 09/26/2010 9:29:18 AM PDT by opentalk
Hidden Real Estate Sales tax in Health care bill – Surprise!There are already at least 20 hidden taxes in the Obama Health care plan coming down upon us the next few years. So, along with rationed care for seniors and forced health insurance, we now find there is a Real Estate Tax snuck into the Health care plan. You may ask, what in God’s green earth does health care have to do with Real Estate taxes??? Absolutely nothing, that is precisely why one got snuck in there.
....I was forwarded this latest tax scheme by Van Hipp, President of American Defense International and the former Deputy Secretary of the Army under Bush senior and Ronald Reagan. He recommended the well known accountant and expert witness on tax matters, Paul Guppy who wrote a commentary on the various hidden taxes in the Spokesman Review paper, “Health Law’s Heavy impact.”
Starting in 2013, not only will you pay the closing costs and real estate fee when you sell your house but now you will pay a 3.8% Sales Tax. So, if you sell your home for $400,000, perhaps wanting to down size if you are a senior you will pay $15,200 in Tax.
Here we have another assault on our seniors again. Many downsize their homes as retirement comes closer, so along with long lines and rationed care that is substandard, seniors and anyone will have to pay more tax on the home they just sold.
(Excerpt) Read more at canadafreepress.com ...
This should be on every TV station from the end of October through the election nationwide with a giant D across the screen.
NJ already imposed a sales tax on real estate. There is a small break for seniors but adding this tax onto the burden is larceny.
But still, it's a complete rip-off!
Isn’t sales tax when you buy something? And the buyer is usually the one who pays closing costs unless otherwise negotiated, right?
This is not a health care bill, it is a tax bill and that’s why they didn’t want us to know anything about it.
Haven’t read the bill. Hundreds of pages of reading through the iterations in the formative stages have left an extremely foul taste in my mouth. %3.8 addition on Real Estate is huge. Anyone know what part of the Bill it’s in?
Really no surprise...what else would you expect from a bunch of lying, communist bastards?
A sales tax on top of everything? Good lord, and why was this in the deathcare bill??
Looks like it would hit govt workers bigtime! Bwahahahahahahahah!!!!!!!!!!! The usurper Dunham strikes again!
It will be a seller’s cost that will be passed onto the home buyer via higher asking price.
Well, now that it is passed somebody was able to read the bill to find out that it is nothing but a tax bill as expected by many.
Piven.
Bring the system to its knees.
All this stuff is never intended to work. The last thing they want for it to do is succeed.
Does this apply to any profit, or just over the 250k exemption.
The ATM (Alternative Minimum Tax) was only supposed to apply to "the rich" when it was passed as well.
Once inflation hits, EVERYBODY who owns a house will be subjected to it.
Only if it is a house with no original cost (did you build it yourself out of scrap materials you salvaged?) and you didn't live in. The tax is on the capital gain, not the sale price, and there is a $250,000 exemption if you lived in the house (I forget the exact details of how long you have to live there). In other words any capital gain you already have to pay taxes on (including house sales) you have an additional 3.8% tax to pay.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.