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Old 02-18-2012, 10:44 AM
 
4,260 posts, read 3,206,448 times
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Quote:
Originally Posted by qlty View Post
By Village Tattler, on February 17th, 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. If you sell a $400,000 home, for example, there will be a $15,200 tax. When did this happen? It’s in the health care bill, and it goes into effect in 2013.

Another gift from the Obama Administration
Who can sell their homes? One good outcome of a plunging market - less sales tax!
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Old 02-18-2012, 10:46 AM
 
8,680 posts, read 14,655,978 times
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Quote:
Originally Posted by corky101 View Post
[URL="http://www.snopes.com/politics/taxes/realestate.asp"]snopes.com: 3.8% Tax on Real Estate Transactions[/URL]

Thank you for posting that. I was just about to say, "Actually, it's a capital gains thing."
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Old 02-18-2012, 10:47 AM
 
Location: Massapequa Park
3,172 posts, read 6,436,931 times
Reputation: 1371
Quote:
Originally Posted by qlty View Post
By Village Tattler, on February 17th, 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. If you sell a $400,000 home, for example, there will be a $15,200 tax. When did this happen? It’s in the health care bill, and it goes into effect in 2013.

Another gift from the Obama Administration
^This is nonsense.

Read the facts here:
FactCheck.org : A 3.8 Percent “Sales Tax” on Your Home?
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Old 02-18-2012, 11:10 AM
 
Location: Long Island
9,763 posts, read 21,771,627 times
Reputation: 5660
One thing to keep in mind though - not everyone is a "couple"

And it's a $250,000 PER PERSON exclusion, so the excess gain of someone with income over $200,000 (single) would be taxed both as capital gains AND the 3.8% "healthcare tax".



Oops, saw your link to FactCheck too late, Pequa - sorry to be repetitive...
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Old 02-18-2012, 03:23 PM
 
823 posts, read 1,334,399 times
Reputation: 978
Quote:
Originally Posted by qlty View Post
By Village Tattler, on February 17th, 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. If you sell a $400,000 home, for example, there will be a $15,200 tax. When did this happen? It’s in the health care bill, and it goes into effect in 2013.

Another gift from the Obama Administration
Wow. Talk about spin.
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Old 02-18-2012, 03:37 PM
 
Location: Long Island, ny
152 posts, read 278,059 times
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It's amazing how the general public will jump to conclusions Without during any research or even reading past a headline!!

Hey Qlty....do your homework before you post nonsense!
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Old 02-18-2012, 04:56 PM
 
13,369 posts, read 16,015,810 times
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Quote:
Originally Posted by shirlgirl71 View Post
It's amazing how the general public will jump to conclusions Without during any research or even reading past a headline!!

Hey Qlty....do your homework before you post nonsense!
I heard 2 people I know personaly parroting this BS in the last 2 weeks. Lo and behold I come here and there's a third trying to sell it.

Guess where the 2 people I know tend to get most of their information from? FOX News and talk radio. These are the people who buy this garbage, foaming at the mouth over anything they can hate Obama for even more than they already do. I'm really getting tired of the stupidity.
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Old 02-19-2012, 07:22 AM
 
910 posts, read 1,740,565 times
Reputation: 551
Quote:
Originally Posted by twingles View Post
That sucks, because as well all know, houses on Long Island that you pay $375K for now are all going to be worth $750K in 20 years. But maybe this will be repealed before then.
Why would they? Our salaries are not going to change and the price of gas and milk will also be the same. That poor guy in Atl who can't even sell his house in a timely fashion for the same price he bought it 20yrs might have a thing or 2 to tell you.
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Old 02-19-2012, 07:31 AM
 
Location: Long Island, ny
152 posts, read 278,059 times
Reputation: 114
So only on Long Island will real estate prices increases??
What nonsense!! People invest in real estate all over the county. Of course, someone's house in Ga, NC, TN, etc will increase in value in the next 20 years. But let's see where their taxes are. I purchased my home in LI 8 years ago...my taxes have DOUBLED in 8 years!! In areas where taxes are high, home sellers need to lower their asking price to compensate for the high taxes! It's a never ending, vicious cycle that will continue to strangle the middle class.
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Old 02-19-2012, 07:36 AM
 
910 posts, read 1,740,565 times
Reputation: 551
Quote:
Originally Posted by shirlgirl71 View Post
So only on Long Island will real estate prices increases??
What nonsense!! People invest in real estate all over the county. Of course, someone's house in Ga, NC, TN, etc will increase in value in the next 20 years. But let's see where their taxes are. I purchased my home in LI 8 years ago...my taxes have DOUBLED in 8 years!! In areas where taxes are high, home sellers need to lower their asking price to compensate for the high taxes! It's a never ending, vicious cycle that will continue to strangle the middle class.
I gave some examples of facts that have occured. Can you give me an example of someone that you know that contridicts my statement.
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