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Main Forums => Politics => Topic started by: Monkeyleg on October 20, 2010, 12:33:05 AM

Title: Health care bill contains 3.8% tax on home sales
Post by: Monkeyleg on October 20, 2010, 12:33:05 AM
I saw a blurb about this a day or so ago, but thought it was hype. I guess it's not.

The health care bill taxes "profits" from home sales in excess of $250,000 for individuals and $500,000 for married couples. Depending upon where someone lives in the country and when he or she bought the home, that kind of "profit" isn't just confined to "the rich".

The tax also applies to sales of second homes (vacation homes, for example) or for sales of rental homes, with no downside limit on the "profit".  That could hurt a lot of people I know.

I wonder how many congressmen knew this was in the bill? Moreover, I wonder who inserted it and why?
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: cassandra and sara's daddy on October 20, 2010, 12:37:25 AM
http://www.snopes.com/politics/taxes/realestate.asp

http://www.factcheck.org/2010/04/a-38-percent-sales-tax-on-your-home/
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Monkeyleg on October 20, 2010, 12:41:49 AM
http://townhall.com/columnists/ArmstrongWilliams/2010/10/19/obamacare_is_already_costing_americans/page/2
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: MicroBalrog on October 20, 2010, 03:43:21 AM
http://www.snopes.com/politics/taxes/realestate.asp

http://www.factcheck.org/2010/04/a-38-percent-sales-tax-on-your-home/

This doesn't really contradict the OP.
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Nitrogen on October 20, 2010, 04:13:54 AM
This doesn't really contradict the OP.

To clarify: the first $250,000 of PROFIT on a home sale is not taxed.  ($500,000 if you're married)

Some investment property I co-own with my parents will probably be subject to this when we sell it next year, if planned. 
I don't have a problem with it, if it helps out other people get care they otherwise wouldn't have gotten, or gotten to keep.
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Jamisjockey on October 20, 2010, 08:18:27 AM
To clarify: the first $250,000 of PROFIT on a home sale is not taxed.  ($500,000 if you're married)

Some investment property I co-own with my parents will probably be subject to this when we sell it next year, if planned. 
I don't have a problem with it, if it helps out other people get care they otherwise wouldn't have gotten, or gotten to keep.

 ;/

What about the people being booted off their current plans that are now going to be too expensive for employers?
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Monkeyleg on October 20, 2010, 10:10:42 AM
Why is real estate being taxed to pay for government health care? That's my real sticking point with this. Why not tax garbanzo beans?
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: MechAg94 on October 20, 2010, 10:13:04 AM
I don't have a problem with it, if it helps out other people get care they otherwise wouldn't have gotten, or gotten to keep.
That is the point.  It probably won't.  I likely will go directly to the general govt coffers.  A large percentage will be eaten up by the FedGov Bureaucracy before it gets spent on anything at all.  
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Battle Monkey of Zardoz on October 20, 2010, 10:53:28 AM
Quote
Quote from: Nitrogen on Today at 12:13:54 AM
I don't have a problem with it, if it helps out other people get care they otherwise wouldn't have gotten, or gotten to keep.

I have a problem with it. It sucks to be with out insurance, but its not anyone elses responsibility to buy it for you.  Health care is not a right.
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: longeyes on October 20, 2010, 11:36:12 AM
If you think a surcharge in the name of "fairness" is only going to be leveled at "rich" home sellers, well...  This is just the beginning if Obamaism rules the earth.  Anyone with "wealth" is considered guilty until proven innocent.  They have to get the money from somewhere, right?  They're going to get it from YOU.
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: cassandra and sara's daddy on October 20, 2010, 08:49:50 PM
http://www.youtube.com/watch?v=MLtqkRNraNk&feature=player_embedded#!

what obama said back then


edits for sarge
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Headless Thompson Gunner on October 20, 2010, 10:03:28 PM
IIRC, it's not just home sales, its capital gains taxes in general that are going up under Obamacare.
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Sergeant Bob on October 21, 2010, 01:32:03 PM
I thought drive by link posting was discouraged on APS? Or, does it only apply to certain people?
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: mtnbkr on October 21, 2010, 02:13:42 PM
I thought drive by link posting was discouraged on APS? Or, does it only apply to certain people?

 ;/

Can't catch everything.

How about I delete the post, ban the user, and block his IP.  Would that placate you?

Chris
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: dogmush on October 21, 2010, 02:48:49 PM
http://www.youtube.com/watch?v=MLtqkRNraNk&feature=player_embedded#!

what obama said back then


edits for sarge
The problem with that is Obama lies.

Why the frak would the CBO compare, in a study of the cost of a bill, a current plan with some hypothetical, completly different plan?  They wouldn't.  One or the other, or both, of those folks is dissembling about what the study actually says.
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Sergeant Bob on October 21, 2010, 05:31:40 PM
;/

Can't catch everything.

How about I delete the post, ban the user, and block his IP.  Would that placate you?

Chris

No need to be an a$$ about it. It's not my rule

Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Monkeyleg on October 21, 2010, 05:43:23 PM
I just posted a quick link to give my source for the story. Sorry if I didn't elaborate, but it was time to hit the sack.
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: Sergeant Bob on October 21, 2010, 05:53:45 PM
I just posted a quick link to give my source for the story. Sorry if I didn't elaborate, but it was time to hit the sack.

We know you're not normally the missing linkman. =D
Title: Re: Health care bill contains 3.8% tax on home sales
Post by: sanglant on October 21, 2010, 09:00:25 PM
i heard my name, what you want? [tinfoil]