JEEPTALK.net: Your Governement helping again - JEEPTALK.net

Jump to content

Page 1 of 1

Your Governement helping again

#1 User is offline   Livefree 

  • Major
  • Group: Members
  • Posts: 712
  • Joined: 05-February 07
  • Gender:Male
  • Location:Ocala, Florida

Posted 14 March 2012 - 07:02 PM

Well i got this today OBAMA CARE hear to help again!! I don't know if i can take much more help.

The National Association of REALTORS is all over this and working to get it repealed, before it takes effect. But, I am very pleased we aren't the only ones who know about this ploy to steal billions from unsuspecting homeowners. How many REALTORS do you think will vote Democratic in 2012?

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That's $3,800 on a $100,000 home, etc. When did this happen? It's in the health care bill and goes into effect in 2013.

Why 2013? Could it be to come to light AFTER the 2012 elections?

So, this is "change you can believe in"? Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax.
If you sell a $400,000 home, there will be a $15,200 tax.

This bill is set to screw the retiring generation who often downsize their homes. Does this make your November and 2012 vote more important?

Oh, you weren't aware this was in the Obamacare bill? Guess what, you aren't alone. There are more than a few members of Congress that aren't aware of it either including nearly all the ones who voted for it.
2002 JT X, 35" MTR Kavlar Goodyear tires, Trail Ready 15"x 10" aluminum Beadlock Rims. Ox Lockers both axles, Currie Anti-Rock, Dana 44s with Chromoly axles , Custom bully up, Warn 9500ti, 4 long arm lift, 1-1/2 body lift, 1 motor mount lift and more. Atlas 2 speed Transfer case, Custom High Steering and Tom Woods Front and rear Drive shafts. Sniper Fab front Bumper, and Jeeperman Rear. T&T Zero HI line front fenders and corner wrap skins with 4" LED tail lights.

#2 User is offline   JeepinIan 

  • Major General
  • View gallery
  • Group: Members
  • Posts: 3,384
  • Joined: 01-May 03
  • Gender:Male
  • Location:Miami, Fl USA

Posted 15 March 2012 - 08:13 AM

I do not like the obamacare health reform. I disagree with it entirely.

With that said, what you have posted is not accurate.

Tax Foundation

Quote

Would "ObamaCare" (Health Care Reform) Tax the Sale of Your Home? Probably Not.
by Gerald Prante

There has been a story and an e-mail floating around for some time claiming that the recent health care reform bill (PPACA/supplemental bill) would impose a 3.8 percent "sales" tax on the sale of every home. The e-mail has been rightfully debunked by the usuals (Factcheck.org and Snopes), but here is what the bill would actually do regarding taxation of the sales of homes.

First, there is no "sales" tax on home sales in the health care bill. The bill would impose essentially a capital gains taxes on some home sales made by a limited number of taxpayers. (The health care law contains a new 3.8 percent tax on "unearned income" for high-income taxpayers. Unearned income includes capital gains.) To be hit by the 3.8 percent capital gains tax, you first have to be a married couple making more than $250,000 in adjusted gross income or $200,000 if you are single. The capital gain on the home sale must also exceed $500,000 if this is a primary home and you are a married couple ($250,000 for singles). So for example, even if you and your spouse make $300,000 in wages and you bought a home that you lived in for a while for $600,000 that you now sell it for $1 million, your capital gains tax on that home sale would be zero. Even if the home sold for $1.2 million, thereby resulting in a capital gain of $600,000, only $100,000 of that capital gain would subject to the new tax (because of the $500,000 exclusion).

For those who earn above those income thresholds ($250,000/$200,000) and who have a capital gain on a home that is a second home or one that does not qualify for principal residence (i.e., lived in for too short of a time period), the full capital gain would be subject to the new 3.8 percent tax.

Over time, however, if the health care reform and the tax code were never changed, more and more home sales would be subject to this tax. That's because the $200,000 and $250,000 income thresholds in the health care reform bill were not indexed for inflation leading more and more people to qualify for having to pay the 3.8 percent tax on their investment income (including some home sales). Furthermore, the $500,000/$250,000 primary home sale exclusion amounts are not indexed for inflation, meaning that over the long-run as home prices grow with inflation, more primary home sales would be subject to capital gains taxes.

Update (9/27/2010)

Apparently one of the sources of this misinformation is an April 8th blog post from GOP.gov (official website of Republicans in Congress). Nowhere in the blog post does it mention the fact that only those tax returns with incomes exceeding $200,000/$250,000 would be hit. Furthermore, it doesn't mention the huge primary home capital gains exclusion that the tax code already has, which means that only a small fraction of home sales even have a capital gain that is subject to taxation. It's a terribly dishonest blog post whatever your views on health care reform are.

National Review Online has a recent column that has repeated this misleading claim, and there is a new article circulating many websites that makes the claim that it hits all income derived from home sales.

This past Saturday morning on the show "Cashin' In," which is part of the Fox News Business Block on Saturday mornings, guest host Wayne Rogers (yes, that Wayne Rogers who starred in "Mash") also made the erroneous claim in the show's "What Do I Need to Know" segment (and he doesn't even get the year right): "What you need to know is that there is a 3.8 percent tax on home sales that's going to take place in 2012. It was hidden in the health care bill. Why it was there nobody knows. Will it stop people from selling their house? Maybe, because the tax on a $300,000 house is going to be $11,400 out of your pocket."

Ian Stewart

If you don't fight for the trails, there won't be any trails to fight for.

What you get by achieving your goals is not as important as what you become by achieving your goals.
Zig Ziglar

"War is an ugly thing, but not the ugliest of things. The decayed and degraded state of moral and patriotic feeling that thinks that nothing is worth war is much worse. The person who has nothing for which he is willing to fight, nothing which is more important than his own personal safety, is a miserable creature and has no chance of being free unless made and kept so by the exertions of better men than himself." ....

John Stuart Mill

#3 User is offline   Livefree 

  • Major
  • Group: Members
  • Posts: 712
  • Joined: 05-February 07
  • Gender:Male
  • Location:Ocala, Florida

Posted 15 March 2012 - 01:35 PM

The big thing to me is way did the bid something like is in a health care bill. This is politics on both side of the fence.
2002 JT X, 35" MTR Kavlar Goodyear tires, Trail Ready 15"x 10" aluminum Beadlock Rims. Ox Lockers both axles, Currie Anti-Rock, Dana 44s with Chromoly axles , Custom bully up, Warn 9500ti, 4 long arm lift, 1-1/2 body lift, 1 motor mount lift and more. Atlas 2 speed Transfer case, Custom High Steering and Tom Woods Front and rear Drive shafts. Sniper Fab front Bumper, and Jeeperman Rear. T&T Zero HI line front fenders and corner wrap skins with 4" LED tail lights.

#4 User is offline   JeepinIan 

  • Major General
  • View gallery
  • Group: Members
  • Posts: 3,384
  • Joined: 01-May 03
  • Gender:Male
  • Location:Miami, Fl USA

Posted 16 March 2012 - 07:36 AM

Hidden money in a bill is nothing new. It happens all the time. Taxing it is not new either. This one just got headlines as it is in the health care bill.
Ian Stewart

If you don't fight for the trails, there won't be any trails to fight for.

What you get by achieving your goals is not as important as what you become by achieving your goals.
Zig Ziglar

"War is an ugly thing, but not the ugliest of things. The decayed and degraded state of moral and patriotic feeling that thinks that nothing is worth war is much worse. The person who has nothing for which he is willing to fight, nothing which is more important than his own personal safety, is a miserable creature and has no chance of being free unless made and kept so by the exertions of better men than himself." ....

John Stuart Mill

Share this topic:


Page 1 of 1


Fast Reply

  
Miami Jeep Fort Lauderdale Jeep Dealer