Has anyone else received this email besides me?

[Booster]

I realize it's from a GOP website, but does anyone know if it's been debunked already?

When did your home become part of your health care? After 2012! Your vote counts big time in 2012, make sure you and all your friends and family clean the white house. It is critical.

HOME SALES TAX
I thought you might find this interesting, -- maybe even SICKENING! The National Association of Realtors is all over this and working to get it repealed, -- before it takes effect. But, I am very pleased we aren't the only ones who know about this ploy to steal billions from unsuspecting homeowners. How many realtors do you think will vote Democratic in 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, etc. When did this happen? It's in the health care bill, -- and it goes into effect in 2013. Why 2013? Could it be so that it doesn’t come to light until after the 2012 elections? So, this is ‘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 a $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation, -- who often downsize their homes. Does this make your November, 2012 vote more important? Oh, you weren't aware that this was in the ObamaCare bill? Guess what; you aren't alone! There are more than a few members of Congress that weren't aware of it either. You can check this out for yourself at:

http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home

[Suich]

1. Here's your answer!

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

[Honeycombe8]

9. It's a little complicated, but I get it. It's a Medicare tax on investment income, only if you earn

over $200k/yr single person, or $250k year as a couple.

[Ruby the Liberal]

2. It is bullshit.

Claim: You will pay a sales tax on a 100,000 home sale

Truth: You will pay a LT cap gains tax on the gains of a sale of a primary residence if over the 250k/500k exclusion, or the net gains on a secondary (vacation or rental property)

Absent guidance from the IRS, experts believe the tax applies to ... income from the sale of a principal home above the $250,000/$500,000 exclusion; a net gain from the sale of a second home; and passive income from real estate and investments in which a taxpayer doesn't materially participate, such as a partnership.

This is not a sales tax, and it does not apply to the sales price of the home - it is an unearned income tax (same as any other investment gain) on the proceeds over the cost basis. There is no such thing as a federal sales tax.

Oh - and you can send them the link to the Wall Street Fishwrap that talks about this: http://online.wsj.com/article/SB10001424052702304830704577496580986417316.html?mod=googlenews_wsj

[Motown_Johnny]

3. Well, a quick Google search turned up this....

since the email is quoting the national association of realtors it seemed like a good place to start.





http://www.realtor.org/small_business_health_coverage.nsf/docfiles/government_affairs_invest_inc_tax_broch.pdf/$FILE/government_affairs_invest_inc_tax_broch.pdf




Just read the first few paragraphs of that. It is a PDF so I can't copy and paste.

[rfranklin]

4. 98% of America will not be affected according to that realtors brochure....

Understand that this tax WILL NOT be imposed on all real estate transactions,
a common misconception. Rather, when the legislation becomes eff ective in 2013,
it may impose a 3.8% tax on some (but not all) income from interest, dividends,
rents (less expenses) and capital gains (less capital losses). Th e tax will fall only
on individuals with an adjusted gross income (AGI) above $200,000 and couples
fi ling a joint return with more than $250,000 AGI.

http://www.realtor.org/small_business_health_coverage.nsf/0e6c5cc5db6ac6b686257202004b6f58/03dcd8d057d7a611852577d20053ccb2/$FILE/government_affairs_invest_inc_tax_broch.pdf

[Motown_Johnny]

5. and even then the tax is only on gains above the cap

[lunasun]

7. 98% of America will not be affected

Yep - basically a 1 or 2 percenter 's issue,,,,,, ( not mine!)

[Spitfire of ATJ]

6. Linux rulz!!!

Understand that this tax WILL NOT be imposed on all real estate transactions,
a common misconception. Rather, when the legislation becomes effective in 2013,
it may impose a 3.8% tax on some (but not all) income from interest, dividends,
rents (less expenses) and capital gains (less capital losses). The tax will fall only
on individuals with an adjusted gross income (AGI) above $200,000 and couples
filing a joint return with more than $250,000 AGI.

Dumbass Teabaggers don't make $250,000 a year in income but they will someday!!!

Uh huh,...and then they'll get their new teeth at Wallmart....

[Booster]

10. I know. Funny how they want everything for the rich simply because they think someday they

will also be rich. Dumbasses for sure.

[Booster]

8. Thanks to all of you. I knew I could count on DU'ers for this answer. I will send the info on.