Showing posts with label capital gains tax. Show all posts
Showing posts with label capital gains tax. Show all posts

Tuesday, September 14, 2010

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?




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To check out the truth click on link below!

snopes.com: 3.8% Tax on Real Estate Transactions

Wednesday, October 29, 2008

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

Monday, October 27, 2008

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?

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