In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
oboma care
fordsix
Member Posts: 8,554 ✭✭
just found out that the dems slipped in a tax in the law that the sale of your house is subject to 3.8% sales tax..no wonder they are protesting there is a lot more garbage that will uncover in the law no one read[8]
Comments
Merc
quote:Originally posted by fordsix
just found out that the dems slipped in a tax in the law that the sale of your house is subject to 3.8% sales tax..no wonder they are protesting there is a lot more garbage that will uncover in the law no one read[8]
The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. And even for those who have such high incomes, the tax still won't apply to the first $250,000 on profits from the sale of a personal residence - or to the first $500,000 in the case of a married couple selling their home. There's more of what I'd call weasel room.
http://www.factcheck.org/2010/04/a-38-percent-sales-tax-on-your-home/
Don't worry only the very rich will pay.
This is how the INCOME TAX STARTED (don't worry, only rich folks pay) and another reason I've stated that Obamacare SHOULD be repealed and replaced. Don't see how something 2,700 original bill and 20,000+ pages over 7 years of revisions can AGAIN be revised. NO WAY,, kill 1000 rats and two escape you'll pay in the long run.
It is shameless wealth transfer. Nothing more; nothing less.
Brad Steele
The tax is set at $500,000 in profit. However, it can affect multiple sales which means real property sales will be passed down to consumers and home buyers.
Another gift from the DEMOCRATs