Sales Tax on Real Estate

Many people have asked me about the 3.8% sales tax on the sale of real estate that sneaked into the Health Care Bill. The rumor is that starting in 2012, anyone that sales their home will be charged a 3.8% tax off the top of the sales price. I heard it as well. I went snoping to see if I could find out the truth. I found this. I hope you will read the whole thing, then you will understand the truth of the situation. It is not as bad as we thought, but I still disagree with it. My stand is that our homes are ours. We worked hard to buy them, pay for them, keep them, and then live on the money later if we need to. Social Security can not take us into our retirement and keep us there in a lifestyle that is far above poverty. The equity we have worked for is ours. We payed taxes on the money we earned, payed for our houses with after tax money. Now they want that too! I will not go there with this. I just wanted to share the information I did find out. I am assuming that this is true. I will pass it to you. If I find out anything else I will pass it as well. This is the link to get it. Good Reading....

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

Karen Jordan