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Home Sales Tax To Fund Obama Care


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#16 mac_convert

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Posted 23 July 2012 - 12:04 PM

That "donation" of $950 may not be a loss to you or others who are that wealthy, but Americans should have the right to donate their money where they choose (charities, church, etc.). My choice isn't to fund the government with more money when they misuse the "money" credit they already are using.

Again, you can argue about the issues of taxation without having a lie written and spread, and I am one of those who if making more than $250K per year and if my wife and made a $500,000+ profit, I would not object to the additional tax of $950. It just wouln't be significant to me.



#17 EDF

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Posted 02 August 2012 - 05:47 AM

The problem is, this story isn't true, and it's been posted here before.

As has been explained the last 2 times this BS was posted, rather than a 3.8% tax on all home sales, there is a 3.8% capital gains tax on investment income on high-income earners.

For homeowners, if an individual makes more than $250,000 profit on the sale of their home, or $500,000 for a married couple, the profit over that amount would be subject to a 3.8% tax.

For those who hate Obama, it doesn't matter if the story is true or not, or if the tax is 3.8% or a nickel, it is worth spreading.

Ridiculous that after 2 years, this is still being spread and believed without anyone taking the time to see if it is even true.


So Stevie babe... it's ok for the Bamster to take $$$ from folks who have sold their home after years and years of paying on the mortgage... built up equity and if fortunate enough to get to the max threshold you describe above... they get 3.8% of that...?

This group Obama brought in are the worst ever for this country... and for you to be in Real Estate and think that's ok...?

and so what if I owned an investment property... you know Schteve that on 1-1-2013 Capital Gains will go up to what ever your tax rate is... right now CapGains are at 15%... so they will go up to 28% and then 3.8% on top of that... and oh... did I mention the nice folks at the State of California will have their hand out for 3.3%of the "purchase price" not the equity when you sell an investment property...

As they say on that ESPN NFL show when a player misses or messes up a play..."Oh come on man"

#18 EDF

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Posted 02 August 2012 - 05:51 AM

No, it's not true.

The fraudulent email states that there will be a 3.8% tax on the sale of a home. Not true.

It also states that the Association of Realtors is 'all over' it trying to get it repealed. Also untrue. Instead, the National Association of Realtors (NAR) is spending time and money explaining to scared sellers that it is untrue.

From the NAR brochure on the matter:

"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).

Formula: The new tax applies to the LESSER of Investment income amount and Excess of AGI over the $200,000 or $250,000 amount

Using the example of John and Mary, a couple with a $325,000 Adjusted Gross Income:

If John and Mary had a gain of less than $500,000 on the sale of their residence, none of that gain would be subject to the 3.8% tax.

Let's say that they had gain of $525,000 on the sale of their home. With home prices where they are, not many folks are in that position, but let's say John and Mary are fortunate enough to be.

The tax applies as follows:

Adjusted Gross Income Before Taxable Gain $325,000

Gain on Sale of Residence $525,000

Taxable Gain (Added to AGI )$25,000 ($525,000 less the $500,000 exlusion for married couples)

New AGI $350,000 ($325,000 + $25,000 taxable gain)

Excess of AGI over $250,000 is $100,000 ($350,000 – $250,000)

Lesser Amount (Taxable) $25,000 (Taxable gain)

Tax Due $950 ($25,000 x 0.038)

So on a gain, not a sale, but a gain of $525,000, the tax would be $950, not the 3.8% of the price of the home, which if the fraudulent email were true, would be at least $19950 ($525,000 x 3.8%, assuming that $525K was the sale price and that there were no loan payoffs, commissions or closing costs on the sale).

Now, you can argue that John and Mary worked hard for their $525,000 gain and shouldn't have to give one dollar, let alone 950 of them to support our national Affordable Care Act, and you'd at least have an honest argument, but you see, the authors of the fraud know that the truth wouldn't have the desired effect. They know that most Americans:

a) Won't bother to seek the truth, but rather, will believe the lie and spread it

and

b) Wouldn't be upset if a couple who makes in excess of $250,000 per year realized a profit of an additional $525,000 on the sale of their home, for a total of at least $750,000 had to pay $950 in tax.

So, they make up a lie and it spreads.

To paraphrase Average Joe; 'if you hate Obama, there are plenty of reasons without having to make any up'.


you know Steve... you lay all this out... but the bottom line is there is going to be a tax increase and there is nothing that will turn you against Obama...

And that my friend is because Obama is black... plain and stinking simple...

This guy can't do anything wrong in your mind... not one stinking dang thang...

#19 Steve Heard

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Posted 02 August 2012 - 10:14 AM

So Stevie babe... it's ok for the Bamster to take $$$ from folks who have sold their home after years and years of paying on the mortgage... built up equity and if fortunate enough to get to the max threshold you describe above... they get 3.8% of that...?

This group Obama brought in are the worst ever for this country... and for you to be in Real Estate and think that's ok...?


It's not about thinking 'it's ok'. It's about the truth. The email claims that there is a 3.8% tax on the sale of a home. That is blatantly untrue. It claims that if you sell a $400,000 home you will pay a $15,200. That is not true. I only explained what is true.

Am I 'ok' with it? You're asking if I were in the situation described, where my wife and I were fortunate enough to have an adjusted gross income of over $250,000 in a single year, and then I sold my home and made and additional $500,000 tax free, and then had to pay an extra 3.8% on anything additional I made over that, and still made even more money, let's say $100,000 more, and then had to pay $3800 in extra taxes, would I be okay with it? So, I made a total of $850,000 and paid a $3800 tax, less than 1/2 of 1 percent, would I be ok with it? I guess so.

The fact is, however, this lie was developed to scare people and make Obama look even worse. It worked for so many, but again. I doubt if this tax is the reason you hate Obama.

you know Steve... you lay all this out... but the bottom line is there is going to be a tax increase and there is nothing that will turn you against Obama...

And that my friend is because Obama is black... plain and stinking simple...

This guy can't do anything wrong in your mind... not one stinking dang thang...


I am sure there are things Obama could do to turn me against them, but he hasn't done them. He has made mistakes and he surrounded himself with the same bunch that was there before him, and he's failed to say the right things to connect with people on the other side, and I am against his policies on illegal immigration and border control.

On the other hand, he did do as he promised, getting us out of Iraq, ending 'don't ask don't tell', getting a new health care reform act, and ending the threat from Osama Bin Laden.

I was very proud that many people in our country believed in him enough to elect him despite his African heritage. I am old enough to remember, and so are you, when it was legal to ban blacks from eating in restaurtants, living in certain neighborhoods, entering parks, using public restrooms and getting jobs. I was so proud that our country had gotten past that and elected a man on his promise, not his color.

You think I support him just because he is black. Alan Keyes, Jesse Jackson, Al Sharpton, and Carole Moseley Braun are also black, and have also run for president, and I would not have voted for any of them.

No, you have to have more than blackness to get my vote.

So, is it fair to assume then, that you hate Obama because he is black?

Steve Heard

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#20 nomad

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Posted 02 August 2012 - 11:15 AM

It's not about thinking 'it's ok'. It's about the truth. The email claims that there is a 3.8% tax on the sale of a home. That is blatantly untrue. It claims that if you sell a $400,000 home you will pay a $15,200. That is not true. I only explained what is true.

Am I 'ok' with it? You're asking if I were in the situation described, where my wife and I were fortunate enough to have an adjusted gross income of over $250,000 in a single year, and then I sold my home and made and additional $500,000 tax free, and then had to pay an extra 3.8% on anything additional I made over that, and still made even more money, let's say $100,000 more, and then had to pay $3800 in extra taxes, would I be okay with it? So, I made a total of $850,000 and paid a $3800 tax, less than 1/2 of 1 percent, would I be ok with it? I guess so.

The fact is, however, this lie was developed to scare people and make Obama look even worse. It worked for so many, but again. I doubt if this tax is the reason you hate Obama.



I am sure there are things Obama could do to turn me against them, but he hasn't done them. He has made mistakes and he surrounded himself with the same bunch that was there before him, and he's failed to say the right things to connect with people on the other side, and I am against his policies on illegal immigration and border control.

On the other hand, he did do as he promised, getting us out of Iraq, ending 'don't ask don't tell', getting a new health care reform act, and ending the threat from Osama Bin Laden.

I was very proud that many people in our country believed in him enough to elect him despite his African heritage. I am old enough to remember, and so are you, when it was legal to ban blacks from eating in restaurtants, living in certain neighborhoods, entering parks, using public restrooms and getting jobs. I was so proud that our country had gotten past that and elected a man on his promise, not his color.

You think I support him just because he is black. Alan Keyes, Jesse Jackson, Al Sharpton, and Carole Moseley Braun are also black, and have also run for president, and I would not have voted for any of them.

No, you have to have more than blackness to get my vote.

So, is it fair to assume then, that you hate Obama because he is black?


Personally I beleive a lot of people simply did vote for Obama just because he is (half) black to show themselves that they could overcome this percieved racist fear and placate themselves even though he's the most unqualified person to ever hold the office.

And as far as his accomplishments? I'll spare you the whole "transparent office" line because we know that's a joke. Iraq...ok we may be on the way out (are we?) but it's just shifting things around to Afghanistan and Syria and a bunch of other Middle East trouble spots where we have no business.

Health Care reform. No. What is more correct is to say is that it's a Health Care INSURANCE reform that will devestate the health care industry even more than it is now. Saw a report last night that this area is the most under-staffed for Drs. Nobody wants to enter a field where you will be forced to see a 100 patients a day. You know where they are all going? Dermitology. Less patients and more $$. Looks like these smart kids will figure a way out of being forced into socialized medicine after all.

And do you honestly believe there is no more threat of terrorism? Just because Obama swaggered on tv and went on how "he" got Bin Laden? Really? Just look up Fort Hood shooting and tell me if there is no more threat. BTW, does anybody find it odd that there was never any pics of a dead Bin Laden and that a bunch of Seal Team 7 guys were killed shortly after that event?

And let's not forget a few scandals or 3. Fast and Furious (Obama is a guilty as Holder on this one), the GSA thingy, millions upon millions wasted on bail outs for green companies and shovel ready jobs that never happened.

Sorry, he has to go.

#21 Steve Heard

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Posted 02 August 2012 - 11:47 AM

Personally I beleive a lot of people simply did vote for Obama just because he is (half) black to show themselves that they could overcome this percieved racist fear and placate themselves even though he's the most unqualified person to ever hold the office.

And as far as his accomplishments? I'll spare you the whole "transparent office" line because we know that's a joke. Iraq...ok we may be on the way out (are we?) but it's just shifting things around to Afghanistan and Syria and a bunch of other Middle East trouble spots where we have no business.

Health Care reform. No. What is more correct is to say is that it's a Health Care INSURANCE reform that will devestate the health care industry even more than it is now. Saw a report last night that this area is the most under-staffed for Drs. Nobody wants to enter a field where you will be forced to see a 100 patients a day. You know where they are all going? Dermitology. Less patients and more $$. Looks like these smart kids will figure a way out of being forced into socialized medicine after all.

And do you honestly believe there is no more threat of terrorism? Just because Obama swaggered on tv and went on how "he" got Bin Laden? Really? Just look up Fort Hood shooting and tell me if there is no more threat. BTW, does anybody find it odd that there was never any pics of a dead Bin Laden and that a bunch of Seal Team 7 guys were killed shortly after that event?

And let's not forget a few scandals or 3. Fast and Furious (Obama is a guilty as Holder on this one), the GSA thingy, millions upon millions wasted on bail outs for green companies and shovel ready jobs that never happened.

Sorry, he has to go.


No, I don't think the threat of terrorism is gone, but Bin Laden is. I don't think health care companies will be going out of business any time soon.

The scandals you mentioned are indeed scandalous.

If you want to start a 'why I hate Obama' thread, you are welcome to it. Just be honest. No made up stuff like a 3.8% tax on the sale of a home.

Steve Heard

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#22 EDF

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Posted 02 August 2012 - 03:29 PM

It's not about thinking 'it's ok'. It's about the truth. The email claims that there is a 3.8% tax on the sale of a home. That is blatantly untrue. It claims that if you sell a $400,000 home you will pay a $15,200. That is not true. I only explained what is true.

Am I 'ok' with it? You're asking if I were in the situation described, where my wife and I were fortunate enough to have an adjusted gross income of over $250,000 in a single year, and then I sold my home and made and additional $500,000 tax free, and then had to pay an extra 3.8% on anything additional I made over that, and still made even more money, let's say $100,000 more, and then had to pay $3800 in extra taxes, would I be okay with it? So, I made a total of $850,000 and paid a $3800 tax, less than 1/2 of 1 percent, would I be ok with it? I guess so.

The fact is, however, this lie was developed to scare people and make Obama look even worse. It worked for so many, but again. I doubt if this tax is the reason you hate Obama.



I am sure there are things Obama could do to turn me against them, but he hasn't done them. He has made mistakes and he surrounded himself with the same bunch that was there before him, and he's failed to say the right things to connect with people on the other side, and I am against his policies on illegal immigration and border control.

On the other hand, he did do as he promised, getting us out of Iraq, ending 'don't ask don't tell', getting a new health care reform act, and ending the threat from Osama Bin Laden.

I was very proud that many people in our country believed in him enough to elect him despite his African heritage. I am old enough to remember, and so are you, when it was legal to ban blacks from eating in restaurtants, living in certain neighborhoods, entering parks, using public restrooms and getting jobs. I was so proud that our country had gotten past that and elected a man on his promise, not his color.

You think I support him just because he is black. Alan Keyes, Jesse Jackson, Al Sharpton, and Carole Moseley Braun are also black, and have also run for president, and I would not have voted for any of them.

No, you have to have more than blackness to get my vote.

So, is it fair to assume then, that you hate Obama because he is black?


BS Steve... all of the things you think he did are great...?

Obama is nothing more than a Poverty Pimping race baiting commie elitist and you my friend are a fool for thinking this guy is deserving of another term as a "partier in chief"...

The dude hasn't met with his "jobs council" in 6 months... but how many rounds of golf has the "sum b*tch" taken.. how many stinking fundraisers...? How many parties with those pigs in Hollywood..?

and I love the gaffe which showed his true colors... " you didn't build that"...

Steve the only reason you are supporting this guy is because HE WAS A BLACK MAN THAT COULD TALK SOME GOOD SMACK AND GET ELECTED..

And as for discrimination..? you can "fo-getta-bout it".. because now you can never say again "because I'm black I can't make it in this country"...

The problem we have...? The 1st black president we elected turned out to be the WORST president EVER...!!! the most polarizing divisive and I think "evil" person to have ever held that office...

But other than that...? I don't really have strong views much either way...

Love you though...

#23 Robert Giacometti

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Posted 02 August 2012 - 03:47 PM

And as far as his accomplishments? I'll spare you the whole "transparent office" line because we know that's a joke. Iraq...ok we may be on the way out (are we?) but it's just shifting things around to Afghanistan and Syria and a bunch of other Middle East trouble spots where we have no business.



And do you honestly believe there is no more threat of terrorism? Just because Obama swaggered on tv and went on how "he" got Bin Laden? Really? Just look up Fort Hood shooting and tell me if there is no more threat. BTW, does anybody find it odd that there was never any pics of a dead Bin Laden and that a bunch of Seal Team 7 guys were killed shortly after that event?


President Obama definitely deserves credit for continuing the strategies of GW and bringing troops back from Iraq!

He also deserves credit for taking out Bin Laden! I'm convinced the world is a safer place today than 12 years ago. President Obama deserves some of the credit for that!

Maybe some day we can all get to the point where we are looking at each issue independtly of WHO is getting the credit/blame and just judge the results based upon wether they are positive or negative!

#24 Steve Heard

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Posted 02 August 2012 - 05:27 PM

BS Steve... all of the things you think he did are great...?

Obama is nothing more than a Poverty Pimping race baiting commie elitist and you my friend are a fool for thinking this guy is deserving of another term as a "partier in chief"...

The dude hasn't met with his "jobs council" in 6 months... but how many rounds of golf has the "sum b*tch" taken.. how many stinking fundraisers...? How many parties with those pigs in Hollywood..?

and I love the gaffe which showed his true colors... " you didn't build that"...

Steve the only reason you are supporting this guy is because HE WAS A BLACK MAN THAT COULD TALK SOME GOOD SMACK AND GET ELECTED..

And as for discrimination..? you can "fo-getta-bout it".. because now you can never say again "because I'm black I can't make it in this country"...

The problem we have...? The 1st black president we elected turned out to be the WORST president EVER...!!! the most polarizing divisive and I think "evil" person to have ever held that office...

But other than that...? I don't really have strong views much either way...

Love you though...


You've still got it! Don't ever change.

Come on over and sing 'Kumbaya' with me.

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#25 (MaxineR)

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Posted 02 August 2012 - 06:39 PM

You've still got it! Don't ever change.

Come on over and sing 'Kumbaya' with me.



Like a “Beer Summit” Steve?

Ha, I don’t think that worked out too well for Obama.

In a family with six children, a $250,000 dollar income might not be so much money, what with the new college costs and the prices of food and everything else going up.

I have a question for you.....is there any tax increases that you would object to under the Obama administration?
*************

In fairness, taxes were still called “taxes” in 2009. They’re referred to as “new revenue” in 2011-speak – just in case you’ve been napping.

Either way, here is President Barack Obama telling NBC’s Chuck Todd that we should never do that which he has proposed doing today.


QUESTION: ”Explain how raising taxes on ANYONE in a recession is going to help the economy.”


OBAMA RESPONSE: “First of all, he’s right. Normally, you don’t raise taxes in a recession – which is why we haven’t. And why we instead cut taxes… His economics are right.”


But wait… It gets better.


OBAMA CLOSING: “The last thing you want to do is raise taxes in the middle of a recession because that would just suck up, take more demand out of the economy and put business in a further whole.”


Hmm?


Take more demand out of the economy?


Put businesses further in a whole?


We’d never, ever, ever do that!!


His “economics are right.”


His “economics were right” in 2009, but they’re wrong today? Pardon me if I’m a little confused.





Obama Flashback – The Last Thing You Want To Do Is RAISE TAXES IN A RECESSION… hmmm?


President Obama's Campaign Speech; Tax Increases in Recession | REPUBLICAN REDEFINED on September 19, 2011 at 4:06 pm


[...] was a show – just like it was undoubtedly a show back in August of 2009 when he said “The last thing you want to do is raise taxes in a recession.” I really bet he wishes he could get that interview scrubbed before Fox News runs it 40 [...]


:P The truth is right here and it hurts doesn't it????

#26 Steve Heard

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Posted 02 August 2012 - 09:55 PM

I have a question for you.....is there any tax increases that you would object to under the Obama administration?
*************


I wish we lived in a world where there was no need for taxation, but we don't.

I'd like to see everyone pay the same tax rate, with no deductions, no exceptions. That would end the bickering over the fairness of the tax code.

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#27 (MaxineR)

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Posted 02 August 2012 - 10:08 PM

I wish we lived in a world where there was no need for taxation, but we don't.

I'd like to see everyone pay the same tax rate, with no deductions, no exceptions. That would end the bickering over the fairness of the tax code.



So, now that you are backed into a corner with what Obama first said, you are going to go all nice and neutral?

Too late Steve...you already showed your hand. It's NOT about us being taxed, it's about us being taxed to death! But if you feel you don't pay enough taxes, feel free to send the IRS an extra check.

Game over.

#28 Steve Heard

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Posted 02 August 2012 - 10:29 PM

So, now that you are backed into a corner with what Obama first said, you are going to go all nice and neutral?

Too late Steve...you already showed your hand. It's NOT about us being taxed, it's about us being taxed to death! But if you feel you don't pay enough taxes, feel free to send the IRS an extra check.

Game over.

Backed into a corner? Neutral? Showed my hand? What the heck are you talking about? I'd have to rank those statements amoung the most baffling and goofiest you've ever made on this forum. How you get the ideas you do is beyond me.

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#29 (MaxineR)

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Posted 03 August 2012 - 01:55 PM

Backed into a corner? Neutral? Showed my hand? What the heck are you talking about? I'd have to rank those statements amoung the most baffling and goofiest you've ever made on this forum. How you get the ideas you do is beyond me.



I’m talking about how you always come out strong, defending Obama and then back down into a more neural tone, when facts are brought up that blow your defense of him out of the water!

Go ahead, act like you don’t know what I’m talking about, but everyone sees it.

It’s common knowledge that Obama flip flops and changes his tune as well.

We just aren’t buying it anymore.


The game is over...

#30 Steve Heard

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Posted 03 August 2012 - 02:00 PM

I’m talking about how you always come out strong, defending Obama and then back down into a more neural tone, when facts are brought up that blow your defense of him out of the water!

Go ahead, act like you don’t know what I’m talking about, but everyone sees it.

It’s common knowledge that Obama flip flops and changes his tune as well.

We just aren’t buying it anymore.


The game is over...

Here's another possibility; upon further discussion and explanation, you discover that your initial biased knee-jerk reaction about what I believe is incorrect. When I explain, you think I've changed my mind. I haven't.

Steve Heard

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