Check your sources: 3.8% Tax on Real Estate Transactions Mostly False

The 3.8% tax on house sales the email subject line screamed at me!

Well I am redblooded American and that grabbed my attention. What followed shocked me until I checked it out with my favorite rumor stopping tool: SNOPES.COM Snopes has been my best friend since the old days on eBay boards in the 90's. Where eBay  friends taught me how to check out rumors.

I am blogging this because I just received an email today that obviously the senders did not check for accuracy It is MOSTLY FALSE. Like all good rumors there is an element of truth: Here is and excerpt from the body of the letter reprinted for journalistic purpose.

Under the new health care bill - did you know that all real estate transactions will be 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? Does this stuff makes your November and 2012 votes more important?

.

To check out the truth click on link below!

snopes.com: 3.8% Tax on Real Estate Transactions

OBAMA ANNOUNCES FHA to help unemployed homeowners

Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications

Obama Administration Plans Mortgage Aid, Donovan Says

Aug. 30 (Bloomberg) -- The Obama administration plans to set up an emergency loan program for the unemployed and a government mortgage refinancing effort in the next few weeks to help homeowners after home sales dropped in July, Housing and Urban Development Secretary Shaun Donovan said.

“The July numbers were worse than we expected, worse than the general market expected, and we are concerned,” Donovan said on CNN’s “State of the Union” program yesterday. “That’s why we are taking additional steps to move forward.”

The administration will begin a Federal Housing Administration refinancing effort to help borrowers who are struggling to pay their mortgages, and will start an emergency homeowners’ loan program for unemployed borrowers so they can stay in their homes, Donovan said.

“We’re going to continue to make sure folks

EDITORS NOTE: notice the word LOAN - they are not addressing the fraud it another refi... banks are bailed out and homeowners are enslaved into debt

OBAMA Video Clip shows he doesn't get it

That little video clip there shows Barack both gets it and doesn't get it. AT 40K you are just a couple of hundred over the line for Food stamps dollars. Many people at that level are having insurance that is either mostly paid for or totally paid for by the state. If you are self employed and earning that much you are generally earning much more and paying much more. If you can't afford teh premiums, Pres. Obama want to TAX you or fine you for not affording the kind of care that they have determined YOU need.

In watching the proceedings earlier it is clear that Pres. OBAMA has no use for people paying out of pocket for their own medical NOR for choosing what kind of medical they want. AS usual Pres. Obama glossed over many of the excellent points this Dr. made. His lecture about WHO the people were that the Dr. OUTLINED he listened to was patronizing to say the least.

Now I'm not sure I get it. I am on the fence here but I am pretty sure that anything the government does is bulky, gets bloated out of proportion and generally does not help my situation..

If you are in hardship you can't extend hardship credit terms - Thank you government

If you want a modification you have to jump through hoops - Thank you government
that is why only 1/2 of 1% are actually getting loan modifications

Now the numbers during this "summit" have me reeling. 1 trillion debt. He Ck for the 15 million that originally were the problem you could pay for their health insurance outright and still have money left over. Some people just dont' WANT health insurance. They jumped in teh months I wasn't looking from 8 million to 15 and now 27 or 30 uninsured. The costs of insurance will go up NO DOUBT (have medicare costs stayed the same? ) even though Obama swears it won't.

Lets see 15 million times 12,000 is not 1 trillion or is it 2 or 2.5 trillion I lose count of recent estimates.. I dont' know what it is as my calculator errors out at the high of number.

THATS IT lets pass a law.... no new bills allowed if the cost is more than a dual power calculator can handle without an error out message.

Watch more clips:

SHEP SMITH Light into both parties


McCain vs. Obama


And I have to agree its about time we got this transparency that was supposed to be in place from day 1. Maybe something good will come from all this poltical POPPYCOCK

Okay you don't believe me then you GOOGLE obama and raise taxes. In 2007 there is news article on raising social security caps (tax hike) and a couple of more links.

Charlie Gibson didnt' even agree with raising capital gains. Barack thinks thats FAIR. PEOPLE if you have any need to sell a house or take retirement etc. you will be taxed on capital gains. It will KILL investments which affects the economy. It could cause a recession to go into depression. BUT its "FAIR".

Don't forget when those tax reductions from Bush expire then that is a TAX HIKE. Don't look at what you got look at tax tables from years so that you have accurate view.

I go back to my original early posts. People need to be less selfish and think of the BIG PICTURE!

Here are couple of links to various tax increase in the news
http://www.usatoday.com/news/politics/election2008/2007-11-11-obama-social-security_N.htm

http://newsbusters.org/blogs/jeff-poor/2008/01/09/under-pressure-cnn-obama-admits-wanting-raise-taxes

Its Capital Gains and Fear!

Why is it that Barack and Biden and overreacting to some tough questions that EXPERIENCED Joe Biden received? Heck, Palin had way worse thrown at her on SNL and still appeared on the show.

Is the BO machine so babyish that it can’t handle a fair question about statements that BIDEN recently made? I don’t now about you, but lately I am remembering a bunch of the way questions have been handled and sometimes they do okay, but mostly it seems like big baby machine crying that a legitimate fair respectful question is met with disdain and arrogance.

They didn’t get it when Joe the Plumber asked his question and disparaged him, they investigated him in fact – someone going through his DMV records. And with this last situation of a reporter asking Biden about Marxism and the sharing wealth, the Big O machine has said no interviews and chastised the station.

Seems local reports, Rick Warren and Joe the Plumber ask better questions than regular big wig reporters. Maybe media should do a better job overall. Maybe they are too caught up I trying to figure out how much an outfit costs rather than deal with more substantial things like is it okay for the BO machine to accept contributions from overseas without documentation of citizenship. Even Hillary much as I did not support her had standards that were good for America.

Doesn’t it concern anyone of the media that Europeans want to have votes in OUR election because of how it impacts the world and O courts them? For a while there I wondered if he were campaigning to be President of France for instance with all his overseas lovey dovey.

Don’t get me wrong I think we need to have strong allies, but catering and pandering are not the way to achieve that. My advice.. go to any donut shop or McDonalds’ early morning. Look around you and find a group of guys sitting around shooting BS and discussions on issues of the day.. .My guess is you just found a group of veterans’ and you will have some lively debates and learn a lot no matter what camp you come from.

I tell you that you might not see it now but some Dem’s are voting Republican because they don’t like the lying, socialistic stuff they see coming down the turnpike. They wil tell you people are scared of the capital gains increases coming with the BO change mechanism. Heck wouldn’t you want your stock back if you were going to lose 15% of its value to taxes? That’s on top of the 10% early penalty if you have to take it out early… so if you think you might need it early you’d better take it this year not next year.

For being so smart (they say) there is something fundamentally STUPID about a campaign that doesn’t get how capital gains affect every single WORKING INVESTING American. Your job might have matching program and all you can put in is $1.00 a week… may not be much but over time it adds up a little.

You can make 20K a year and still have funds in a 401K if you rolled it over from last higher paying job, or if it was a gift from granddad = facts are you are going to be penalized if you try to make your money work for you . Evidently the BO machine thinks the more you are penalized for making your money work for you, the better. He knows that it would be better to tax you on your smart money and spread it around to those more needy than you. Kind of crazy, huh?