Under the new health care bill - did you know that all real estate
transactions are now subject to a 3.8% Sales Tax? The bulk of these
new taxes don’t kick in until 2013 (presumably after Obama’s
re-election). You can thank Nancy, Harry and Barack, and your local
Democrat Congressman for this one. If
you sell your $400,000 home, there will be a $15,200 tax. This bill is
set to screw the retiring generation who often downsize their homes.
Is this “Hope & Change” great or what? We can vote the bums out in
November and demand that they eliminate the bill or at the very least
defund it. Then in 2012 repeal it. This is just the tip of the tax
iceberg. New taxes coming into effect as of 01 Jan 2011 will sock it
to everyone – for example, the lowest Federal income tax rate (10%)
will increase to 15%, the highest, from 35% to 39%; the death tax is
reported to go from 0% to as much as 55% of the total value of the
deceased estate!
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