Remember all that discussion about the Congress not reading the entire healthcare bill? Well here are a few details that they aren’t bragging about.
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 will effect everyone that sells a home, not only those making over $250,000 as the Obama administration promised.
This bill is set to screw the retiring generation who often downsize their homes. Is this “Hope & Change” great or what?