Obama is Hurting the Economy With This

Subject:	FW: {SPAM} FW: Home Sales Tax
From:	Renee
To:	Fran, Chips,Tom Sweeney, Brian, Val,Evan,Dad, Pete, Dan & Joyce,
Cc:
Bcc:
Date:	Monday, July 23, 2012 5:16 PM

I trust no Politician or Group of Politicians especially our current Administration Good Points below Tom !  Thanks

From: Thomas Sweeney Sent: Monday, July 23, 2012 12:07 PM
To: Renee King
Subject: Re: {SPAM} FW: Home Sales Tax

Contrary to the claims in the viral portion of this email, the sale of your home will not automatically face this new tax. Thanks to Chips for enlightening us all on that point.  But there IS a new tax. It might hit part of the gains on your home sale. It's even more likely to hit the sale of property other than your primary residence. And, like much else in the Obamcare Law, it is all very, very confusing.  

The National Federation of Independent Business (NFIB) reports, “The $250,000/$500,000 thresholds only apply to the sale of a primary residence, so the tax will hit other property sales harder.”

 No Sales Tax on Home Sales, BUT...

NFIB also points out that this tax “marks the first time that non-wage income is designated to fund Medicare.” Beyond its marginal effects on real estate sales, the new application of the Medicare tax to investment income will have substantial effects on the economy at large.

The Heritage Foundation expounds on the latter point in its report,  The President's Health Proposal: Taxing Investment Undermines Economic Recovery

They basically say, “Raising the tax burden on investment income further damages the economy and ultimately affects all members of society.” Their findings show that this tax will result in lost job opportunities, a reduction in productivity, losses in gross domestic product, and reductions in household income. In short, all the things Obama seems to be striving for.

So is there a sales tax on real estate included in the health care law? Well...not all the time. But will the same provision that taxes some profits from real estate cause widespread damage to the economy? Absolutely.

Way to go Obama!!

 

 

"Our People Make the Difference"

From: Chips

Sent: Monday, July 23, 2012 10:40 AM
To: Fran Cc: Brian, Val, Evan, ???, Dad, Pete, Renee
Subject: Re: {SPAM} FW: Home Sales Tax

Aunt Frances,
Renee,

It seems you can't trust the GOP.
This is on their website? So it's their official position? To inform you, so that you can vote responsibly?

From the National A of Realtors:
http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-tax/

and from factcheck:
http://www.factcheck.org/2012/04/realtors-the-3-8-sales-tax-and-247-medicare-premiums/



>>> "Fran " 07/23/12 9:11 AM >>>

From: Renee

To: Fran, Gussey, Ellen, Evan, Dad, brian,Val,Pete, Tom
Subject: FW: Home Sales Tax

Renee

________________________________

"

Subject: Home Sales Tax

ANOTHER TAX HIDDEN IN OBAMACARE......ONE MORE REASON NO ONE GOT TO READ THE BILL.....................GET RID OF HIM IN NOVEMBER!             ANOTHER NASTY MOVE BY OUR BOY THE PRESIDENT !   When does your home become part of your health care? After 2012!   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     I hope you forward this to every single person in your address book.                                                                                                            VOTERS NEED TO KNOW.