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[...] is a rumor; to get the real scoop, check out this link : http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-t… Give me some feedback Share this:FacebookTwitterLike this:LikeBe the first to like this [...]
Do you think posting “[...] The 3.8% Tax is Not a Real Estate Transfer Tax (Nov. 19) [...]” over and over and over again will not make it a tax. Sorry, call it what you want, but it’s still a tax … it’s still a tax …it’s still a tax … it’s still a tax …it’s still a tax … it’s still a tax …it’s still a tax … it’s still a tax …it’s still a tax … it’s still a tax …it’s still a tax … it’s still a tax …it’s still a tax … it’s still a tax … and over and over and over again.
[...] The 3.8% Tax Is Not a Real Estate Transfer Tax [...]
[...] Video and explanatory article. [...]
[...] Roger The 3.8% Tax Is Not a Real Estate Transfer Tax [...]
[...] The 3.8% Tax Is Not a Real Estate Transfer Tax [...]
[...] Just please understand who needs to be upset and who likely will not be affected. Here is a link to an article the National Association of Realtors have posted. Also, if you want a deeper [...]
[...] Shortly after the federal government enacted sweeping healthcare reform earlier this year, there was considerable concern over a last-minute addition to the legislation: a 3.8 percent tax on investment income of upper-income households to help shore up Medicare. The tax takes effect in 2013. Read More. [...]
[...] decide to sell. There are lots of other details in the bill so if you want to learn more you can check out this great article from Realtor Magazine. And if you have any questions feel free to give me a call or shoot me an email. [...]
It is a tax. Those numbers can change with inflation to affect everyone. When I started there were few sales over $100,000. in my market. In less than 20 years there were few sales under. Depending on the market, recovery could easily change the numbers significantly and a majority of sellers might qualify on a set income and gain. If you say it isn’t a tax it will be in a short time. It is a tax.
[...] The 3.8% Tax Is Not a Real Estate Transfer Tax. Share this:TwitterFacebookLike this:LikeBe the first to like this post. This entry was posted in Information, News and tagged 3.8% tax, Health Care Bill by Totsie Slover. Bookmark the permalink. [...]
[...] The 3.8% Tax Is Not a Real Estate Transfer Tax. Share this:TwitterFacebookLike this:LikeBe the first to like this post. [...]
Yes it is a tax. No it is NOT a Real Estate Transfer Tax. I live in a state with something called Real Property Transfer Tax, which is a Transfer Tax, which is charged on the sale price, making no exemptions or reference to income, the $250,000/500,000 exclusion, or the income of the seller.
In fact, now that I think of it, our transfer tax is based on nothing but the sale price. Lose you shirt on the house, too bad. The transfer tax is still collected at closing. Our market is 75% short sales and reos. Everyone is losing, the bank, the seller, sometimes the agents take hits on their commissions, etc., but that makes no difference, that transfer tax still has to be paid. It’s extremely regressive.
It is a TAX..as Tom has expressed! And since it is a tax that happens when you sell or transfer ownership it is a TRANSFER Tax…just because it only hits higher earners -does not mean it is not a TRANSFER Tax, or that it is “right”…. this will be a disadvantage to the real estate market! All investors will calculate this into the purchase of investment property – and if the profit margin is reduced significantly by the 35% capital gains tax + an additional 3.8% transfer tax – these same investors may look to other investments. Most investors buy foreclosures and spend money on remodeling and repairs….helping the economy – this will affect the reduction of inventory from the market and it will affect the repairing of these properties.
[...] and would suggest the same for this except there’s an even better source: the National Association of Realtors has addressed this with some facts. There’s short blog post and video that explains the tax in simple language. Again, [...]
[...] Additional information can be found at these links: 1) Frequently asked questions 2) Downloadable brochure 3) Video from National Association of Realtors [...]
For all of those above who said “it is a tax” I applaud you. For all who feel they can justify this tax because “it will only affect a few”, I say shame! Regardless of the number of “transactions” that are affected – there are PEOPLE behind those transactions that worked hard to earn what they earn; to make wise investments into their future. Why should they be penalized for that? For too long the mind set that it is OK to “tax the rich” has been running rampant. Mind you – I am NOT rich – so I am not coming from a self-preservation stand point. I am coming from a social economic stand point. If there are people who can afford the million dollar homes, the $4,000 chandeliers, the expensive cars – I say “Thank God!” because every one of those items I just mentioned are built by people just like me – laborers, middle-income family providers. We have no right to penalize anyone for making more money than another – that, my friends, is Socialism. Isn’t it also the American Dream? When did we lose the right to attain that?
[...] the tax works in the video above, in which Goold walks through a sample income scenario. From: http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-t… LegacySIR | No comments | Tags: coastal real estate maine, homes in maine, luxury real estate, [...]
[...] http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-t... Rate this: Share this:ShareEmailPrintFacebookTwitterLinkedInRedditDiggStumbleUponTumblrLike this:LikeBe the first to like this post. [...]
Call it what you want, it’s just another way for the goverment to get money out of people. They will never learn the lesson we have to live by, you can’t spend more than you make !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
[...] http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-t... [...]
Tax or Transfer Tax either way, whatever the name a little nibble now. Minimal Inpact on Real Estate today a bigger bite later. Get use to it and as history has shown it will not be repealed, just become more extensive and expanded to possibly some portion of the upper income brackets, none of the lower bracket, but as it generally evolves as time passes, the Fee, Tax or Transfer Tax or anyother renaming of the levy, right from the pockets of the middle income earners. An 11th Hour Addition, Learn to Love it.
[...] The 3.8% Tax is Not a Real Estate Transfer Tax (Nov. 19) [...]
So,NAR has checkened out on fighting this tax ??!! Again.
The only reason I’m still a Realtor is that I am forced to in order to access the local mls service. What a rip as is the lack of courage by NAR.
This is a tax…………And it WILL be a transfer tax on lower priced properties.
It’s just one more way the government,namely Comrad Obama is using the power of the federal government to take individual property rights away and shift all property ownership to the federal government. One more step to toal take over by the socialists.
What part of tax don’t you understand? Not only is this a tax, it is an income specific tax! Let’s ALL hope that the US Supreme Court repeals the unconstitutional tax! If this is allowed to stand, what will the US Government “mandate” next?!?
Hi , OnTom English’s comment, he did not say it wasn’t a tax. He just said it is not a real estate transfer tax….and it isn’t.
[...] the links below for additional in-depth information: NAR video FAQs Download a comprehensive brochure President’s [...]
[...] NAR video FAQs Download a comprehensive brochure President’s Podcast Blog this!Bookmark on DeliciousDigg this postRecommend on FacebookShare on Linkedinshare via RedditTumblr itTweet about itBuzz it upSubscribe to the comments on this postPrint for laterBookmark in BrowserTell a friend Tags: Federal Issues, Governmental Affairs, Houston REALTOR, Real Estate Transfer Tax, Supreme Court, Tax Policy « Previous2012 TREPAC Investors /* [...]
[...] The 3.8% Tax Is Not a Real Estate Transfer Tax. [...]
[...] NAR Video [...]
If wealthy people can get tax cuts when things are good (oh, and when things are bad….e.g., while fighting 2 wars int he Middle East) then they shouldn’t mind having to pay more when we are in a recession. If trickle down economics really worked, then we never would’ve found ourselves in this mess considering the wealthy have received tax break after tax break since 1980! There is an inverse relationship between the health of the economy and the tax rates of the wealthiest Americans. That is a fact.
Shame on Tanya. You need to do your homework. “trickle down” works. Gov’t spending, poor federal budgets, and lazy Americans who look for handouts…. That is our problem. Tanya’ why is it better to give our money to the Gov’t rather than keeping it in the open markets?
Reagan nailed it! “it’s not the tax payers aren’t paying enough taxes, it’s that government SPENDS too much!”
Stop doing the “rich don’t pay enough” game! We pay nearly 90% of all federal income taxes, how much more should we pay? And yes, I am in that group of “wealthy Americans”. Instead of trying to break me, you should try to join me! Our country would be better off!
[...] The Proposed 3.8% Health Care Tax is NOT a Real Estate Tax! On N.A.R.’s website: The 3.8% Tax is NOT a Real Estate Transfer Tax Go to: http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-t... [...]
A tax is a tax is a tax. Call it whatever kind of tax you want, it is still a tax. The government better get their hands out of taxpayers pockets because the next (or continuing to get worse) depression is at hand. Government needs to stop spending!
Amen! Laura Kennedy…..
A TAX is a TAX no matter what you call it and it is attached to real estate. It will effect all of us in some way or another. Wake up people!
The Governement needs to be smaller and stop spending out of control. Reduce the Government payroll and you will save millions in s short period of time.
This makes my blood boil. To think NAR just caves in. This is a tax. A tax on Real Estate. Have been a NAR member for 44 years. It is time we got some people on staff to fight for us. The regulation has to stop. If this is not a transfer tax at 3.8% strange how it will bring in Billions to pay for healthcare. The Camel has his nose under the tent.
[...] There Is No Obamacare Tax On Most Home Sales. Really. – Forbes The 3.8% Tax Is Not a Real Estate Transfer Tax snopes.com: Home Sales Tax Gotta love the Monday morning email threads…… Strange how some [...]
A couple of comments. First, the very fact that this is a “tag on” “11th hour pay for” to Obama Care (an oxymoron) is not only a sneak attack by the gutless left but a tax on those who work hard, invest money, create jobs and commerce across our great Country. Those who take risks deserve reward. Our country is built on Americans who are not afraid to step out with new ideas, risk loss to anticipate gain and go for it. There is a little bit of waist in government spending I think we can all agree. There are areas where money can be shifted from the taxes we all pay now to offset costs of the reform.
Second, the example given in the article does not sound like much money in additional tax to pay. The fact is, how many taxes rates have not gone up once they are set in place. This is a foot in the door to increase the taxes in the future. The “Normalcy bias” is a part of Americas culture now. Once we get use to the shock of this tax, its easier for the powers that be, to increase little by little and suck more of the life out of our already floundering economy. Wake up people. When laws are passed without the our elected officials even reading them, skullduggery is on the horizon. enough said!…Damit!
[...] http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-t... Share this:TwitterFacebookLike this:LikeBe the first to like [...]
I understand that it is not a direct transfer tax, but could be taxable income. Here’s the important thing to remember… the people to constructed this abomination of a health care act are desperate for money to pay for it. This is just the start of the many ways they will use to try and get the money.
[...] NAR Share this:EmailPrintStumbleUponDiggFacebookRedditTwitterLike this:LikeBe the first to like [...]
[...] Ten Things You Should Know about the 3.8% Tax NAR video FAQs Download a comprehensive brochure President’s Podcast Distressed Property [...]
[...] A video that explains the issue in further detail is posted online at http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-… [...]
[...] Ten Things You Should Know about the 3.8% Tax NAR video FAQs Download a comprehensive brochure President’s [...]
[...] http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-t... Share this:TwitterFacebookEmailPrintLinkedInRedditPinterestMoreDiggStumbleUponTumblrLike this:LikeBe the first to like this. [...]
[...] http://speakingofrealestate.blogs.realtor.org/2010/11/24/the-3-8-tax-is-not-a-real-estate-transfer-t... Share this:TwitterFacebookEmailPrintLinkedInPinterestRedditMoreDiggStumbleUponTumblrLike this:LikeBe the first to like this. [...]
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