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Old 07-10-2012, 01:35 PM   #1
Dragzilla
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Default Obama Care and selling your house..

Yep, you heard that right. Starting in 2012 (conveniently after the election) you will pay a 3.8% Obama Care TAX when you sell your house. Now ask yourself... How many of you Obama lovin' Libs knew that? And if so, did you support it? More of the "we have to pass the bill to see what's in it."... LMAO!!!
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Old 07-10-2012, 01:37 PM   #2
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Default Re: Obama Care and selling your house..

there was a better alternative: Single Payer. but...
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Old 07-10-2012, 01:38 PM   #3
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Default Re: Obama Care and selling your house..

Quote:
Originally Posted by Dragzilla View Post
Yep, you heard that right. Starting in 2012 (conveniently after the election) you will pay a 3.8% Obama Care TAX when you sell your house. Now ask yourself... How many of you Obama lovin' Libs knew that? And if so, did you support it? More of the "we have to pass the bill to see what's in it."... LMAO!!!
I'm getting tired of calling bullshit on this. Do some research before you post crap you get from idiot in your e-mail.

http://www.forbes.com/sites/beltway/...-sales-really/

It is the unfounded rumor that never dies: You will have to pay a 3.8 percent federal health care tax on the sale of your house.
For all but a handful of taxpayers, this is not true. It is wrong. It is urban myth. It is the revenue equivalent of death panels or the Halliburton conspiracy to start the Iraq war.
This is one of those seemingly immortal Internet stories. You know the ones: They usually start with the assertion that, “They don’t want to know this but….” In the words of one blogger, “Obamacare will impose a 3.8 percent tax on all home sales and real estate transactions.”
Umm, no it won’t. Yes, the health law will impose a 3.8 percent tax on investment profits and other non-wage income starting in 2013. But that tax applies only to couples with adjusted gross income of $250,000 (or individuals with AGI of $200,000). About 95 percent of households make less than that, and will be exempt from the law no matter what.
In addition, couples who sell a personal residence can exclude the first $500,000 in profit from tax ($250,000 for singles). That would be profit from a home sale, not proceeds. So a couple that bought a house for $100,000 and sold it for $599,000 would owe no tax, even under the health law.
If that couple had AGI in excess of $250,000 and made a profit of $500,010, it would owe the new tax. On ten bucks. That would be an extra 38 cents.
The Tax Policy Center figures that in 2013 about 0.2 percent of households with cash income of $100,000-$200,000 would pay any additional tax under this provision. And they’d pay, on average, an extra $235. Keep in mind that is added tax on all sources of non-wage income, not just home sales.
Still, like Dracula, this rumor can’t be killed. Politfact tried to knock it down in 2010. A couple of months ago, my Tax Policy Center colleague Donald Marron did the same in a Tax Notes article called “Health Reform’s Tax on Investment Income: Facts and Myths.”
People who send Internet chain letters probably don’t read Tax Notes. Still, imagine Donald’s surprise when just last week he met a guy in Kansas City who insisted that the tax not only exists, but the rate is 7 percent (some sort of weird bracket-creep, I guess).
Now imagine my surprise when, after I wrote a TaxVox article the other day about the (real) tax provisions of the health law, I got an email from a frustrated housing industry tax specialist. “There is usually some confusion/disinformation associated with new tax rules,” he wrote, “but I’ve never seen an issue that has as much as this one.”
So the bottom line is this: If you are a married couple whose AGI exceeds $250,000, and if you make more than a $500,000 profit from the sale of your house, yes, you may owe this tax. But if you are anybody else, spend your time worrying about how you’re going to win the next $600 million lottery—or whether you are going to get bopped in the head by a stray asteroid on your way to work.
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Old 07-10-2012, 01:39 PM   #4
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Default Re: Obama Care and selling your house..

I didn't vote for the dumb SOB so I shouldn't have to pay it.
I think he should tax and Obamacare only the people that voted for him!!
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Old 07-10-2012, 01:42 PM   #5
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Default Re: Obama Care and selling your house..

IT'S BULLSHIT!
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Old 07-10-2012, 01:44 PM   #6
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Default Re: Obama Care and selling your house..

Hey, fuck you too, Mark. Maybe I have investment property and make that much. Just because it's not for everybody does not make it a lie!
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Old 07-10-2012, 01:45 PM   #7
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Default Re: Obama Care and selling your house..

Maybe you fart cajun seasoning.

But I doubt it.......
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Old 07-10-2012, 01:46 PM   #8
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Default Re: Obama Care and selling your house..

Quote:
Originally Posted by Mark O'Neal View Post
IT'S BULLSHIT!
READ WHAT YOU COPIED AND PASTED DIP SHIT! It is TRUE, just not for everybody!
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Old 07-10-2012, 01:47 PM   #9
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Default Re: Obama Care and selling your house..

It will get about 12 people. You one of them?

You make over 250K a year and have over 500K in equity in your property?
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Old 07-10-2012, 01:48 PM   #10
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Default Re: Obama Care and selling your house..

And.....read the OP....it bullshit. What he said is utter bullshit.
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Old 07-10-2012, 01:49 PM   #11
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Default Re: Obama Care and selling your house..

Quote:
Originally Posted by Mark O'Neal View Post
Maybe you fart cajun seasoning.

But I doubt it.......
Maybe so... But you just got bitch slapped with your own post. Think about that the next time you call someone an idiot...
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Old 07-10-2012, 01:54 PM   #12
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Default Re: Obama Care and selling your house..

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Originally Posted by Mark O'Neal View Post
It will get about 12 people. You one of them?

You make over 250K a year and have over 500K in equity in your property?
Yes and my house will be paid off in 6 years and it "should" be worth that when I sell it. So I say again, it's true and you are the bull shitter in this thread!
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Old 07-10-2012, 01:55 PM   #13
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Default Re: Obama Care and selling your house..

In your head.

Speaking of bitch slapping.....point to where I called anyone here an idiot......idiot.
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Old 07-10-2012, 01:55 PM   #14
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Yes and my house will be paid off in 6 years and it "should" be worth that when I sell it. So I say again, it's true and you are the bull shitter in this thread!

I think it's time to pull the hip boots on........
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Old 07-10-2012, 01:57 PM   #15
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Default Re: Obama Care and selling your house..

Incidentally...every person in the US that rents is subsidizing you buying that McMansion you're so proud of.

So it's okay for you to steal from them...as long as they can't get shit back from you......
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