February 28th, 2012
by Frank · Filed Under: Business · For Sale By Owner · Marketing · Obama · ObamaCare · Personal Assets · Real Estate · retirement income · supplemental income
Obama and OBAMACARE is set to Screw Older Folks starting January 1, 2013 with a 3.8% Sales Tax On Some Home Sale Profits. Actually, ObamaCare will screw many folks selling homes after Jan. 1, 2013 who have built up significant profits in their homes….if they still have taxable profits after their home values have plummeted with the 40% selling price loss nationwide due Obama’s Exponential Debt Spending.
As Nancy Pelosi said about OBAMACARE, “You have to Pass It to Find Out What Is In It!” …. Well, here is one thing discovered by the National Association of REALTORS that was sent to me that I felt was extremely important for all Americans to know about ….
Note: Some editing was requires to the below 3rd party information to provide more clarity and accuracy.
“The National Association of REALTORS is all over this and working to get Obamacare repealed, before the excess profits sales tax takes effect. But, we are very pleased we aren’t the only ones who know about this ploy to steal billions from unsuspecting homeowners.
Sales Tax Guidelines: For Single Folks with Profits Over $250,000 or Couples with Profits Over $500,000.
Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on profits over the above guidelines? That’s $3,800 on profits of $100,000 above the limits.
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 (OBAMA’s ) “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 your home with a $400,000 profit above limits, You will have to pay 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”
Thought you might like to see this. I know I was surprised. LUCKILY, WE SOLD OUR HOME LATE LAST YEAR and as a result, we won’t have to suffer through this kind of personal asset theft.
Editing to the above 3rd party information was necessary to provide clarity and accuracy. It may still be a little off, but the bottom line is that OBAMACARE is Terrible for America and Real Working and/or Seriously Looking for Work Americans.