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Health care bill strikes again

Discussion in 'Politics, Elections & Legislation' started by xringjim, Jan 24, 2011.

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  1. xringjim

    xringjim TS Member

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    One of my friends sent me an e-mail telling me that as of 2013 anyone selling they're home is going to have to pay a 3.8% tax. That would work out to be 15,200 on a 400,000 house. Pretty soon I'm going to wonder just WHAT part of the house I'm paying for. AND, just how much of the money I'M going to get to keep. Jim
     
  2. H82MIS

    H82MIS TS Member

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    and the gubmint will have access to your bank accounts,,,,nice eh???
     
  3. xringjim

    xringjim TS Member

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    One of my friends sent me an e-mail telling me that as of 2013 anyone selling they're home is going to have to pay a 3.8% tax. That would work out to be 15,200 on a 400,000 house. Pretty soon I'm going to wonder just WHAT part of the house I'm paying for. AND, just how much of the money I'M going to get to keep. Jim
     
  4. H82MIS

    H82MIS TS Member

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    and the gubmint will have access to your bank accounts,,,,nice eh???
     
  5. sernv99

    sernv99 Active Member

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    did you do any research on this or just forwarding on spam mail you got from your friend? Best to do your homework and research this before putting the tin foil hat on ;-) jus' saying.....
     
  6. H82MIS

    H82MIS TS Member

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    both statememnts above are true,,,how about Mr.servn99 do a little research,,,before shootin your mouth off,,,:)jus'sayin,,,,
     
  7. crusha

    crusha TS Member

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    Hey, the a-holes didn't bother to learn what was in it before stumping for it...why should I have to learn everything that's in it to be against it?


    If true, I presume it will probably be like the Alternative Minimum Tax...a future tax increase that kicks in at different, unspecified times for everyone, once inflation gets high enough.
     
  8. halfmile

    halfmile Well-Known Member

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    When inflation goes nutso and bread is 5 bucks a loaf, your house may indeed have a huge (taxable) profit on the sale.

    I paid 18 thou for a house I sold for 90K some years back. That's a 500 percent increase. If that happens to your 400K house it will go for 20 million. Nice little hypothetical tax there.

    HM
     
  9. sernv99

    sernv99 Active Member

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    OIC: I see the public educational system has failed you since you do not comprehend the English language that well. To say there is a flat 3.8% tax on any home sale is incorrect..don't worry, you can still be the big man on ts.com and run your mouth, pretending to know something ;-)

    http://www.snopes.com/politics/taxes/realestate.asp

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

    Stl Flyn Well-Known Member

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    Thats what I like to see, the actual information link. Let people read the information for themselves, and determine what it is. That is what I hate most about politics. DECEPTION of the uninformed!!!!!!!!!!!!!!! Unfortunately people believe everything they hear or read, instead of looking into the matter themselves. Provide your source of information when making accusations. I am sure your friend did not mean any harm, but ask where he got his information from, and look it up yourself, before you spread it around.
     
  11. 870

    870 Well-Known Member

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    Another example of someone copying a misleading internet story and posting to TS. Even worse, someone trys to point out it is misleading and another uninformed poster jumps on him.
     
  12. xringjim

    xringjim TS Member

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    Hey, I didn't intend to mislead anyone. Just wanted to pass on something of interest. If what I posted caused you to find out the facts then the post was of benefit, right? Jim
     
  13. H82MIS

    H82MIS TS Member

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    Here ya go smartass,,,,,,,,,,,yes you,, ya liberal puke servn99
     
  14. H82MIS

    H82MIS TS Member

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    Here's the rest of the story,,,you liberal democrats are disgusting pieces of shit,,,,,,,,,,,,,,,,,,,,,,,,,go away,,,,,,,,,,,
     
  15. 870

    870 Well-Known Member

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    OICU12:

    I've posted all of this before, but for your benefit here it goes again: the new medicare tax is a tax on investment income that will apply to certain taxpayers starting in a couple of years. IT IS NOT A TAX SPECIFICALLY ON HOME SALES, and it WILL NOT apply a 3.8% tax on every home sold, which is what was posted above and you so pointedly agreed with. It is adding another layer of tax on investments income, which yes, can include home sales in certain situations. It isn't making any home sales taxable that aren't already taxable right now.

    If you are facing a taxable sale of your residence, then this will make the already applicable tax cost even more expensive. Most of us won't have to worry about this as far as our residences are concerned. It is the other investment income where it will be more of a concern.
     
  16. sernv99

    sernv99 Active Member

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    OIC: try posting from an unbiased source.....it's like if a Nazi sympathizer wanted to debate the evils of Judaism, one would expct he/she will reference something other than Mein Kampf LOL....name calling does not help defend your argument either ;-)
     
  17. H82MIS

    H82MIS TS Member

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    So my home is worth 400,000 (and I sell it for that amount) built it for 85,000 35 years ago,,capitol gains= 315,000 X 3.8%= an additional tax of $11,970 dollars for the commie rat bastards to finance someone else's medical ins??????
    BULLF'N SHIT,,,,,,,,I hope all of you obama ass kissers are happy with your vote,,,,,
    Tell me where I'm wrong,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
     
  18. 870

    870 Well-Known Member

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    But that is not the point, the point is it does not apply to every person selling their home, as those emails lead you to believe, and what you specifically agreed with above. That is where you were absolutely wrong.

    EDIT: OICU812, your additionl tax in your example would be $2,470, not the over $11,000 you calculated, and that is only if you had AGI of at least $265,000 in the year of sale and are single. You don't have a taxable gain of $315,000 if it is worth what you say, assuming you are single. Except for unusual situations, you would have ZERO extra tax if filing jointly. You are wrong there also.

    For most taxpayers filing joint returns, there is no taxable gain on a sale of your residence unless the GAIN is greater than $500,000. You have to have over a $500,000 gain before the 3.8% tax will come into play on a sale of your house, and in addition you need at least $250,000 of AGI excluding the $500,000.
     
  19. porky

    porky TS Member

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    Anyone who follows snopes as a go to for accurate information is a very stupid person. And that isn't saying anything about their IQ level. It's run by a husband and wife of extremely liberal mindsets. They're always twisting the facts to align with their liberal leftist agends.
     
  20. 870

    870 Well-Known Member

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    Whose following Snopes?
     
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