Another Obamacare Surprise — A Real Estate Tax?
h/t Canada Free Press
The Democrats in Congress have been caught in another grand theft through Obamacare.
This time, it’s taxing Real Estate transactions — starting in 2013 there is a 3.8% tax on all real estate sales effective in 2013 according to tax expert Paul Guppy in an article in Spokesman Review entitled “Health Law’s Heavy Impact.”
So the financial experts that were beginning to predict some recovery of the housing market in 2012 might have to reconsider their figures. Taxing something is the surest way to decrease whatever is being taxed….and also the surest way for people to try to work around the new rule with even more creative transfers of property or payment. Taking nearly $7,000 from the proceeds of the sale of an ‘average’ house will have an impact on the subsequent purchase by the seller who is now $7,000 poorer — which should drive the prices down on the whole. In short, this is a terrible idea — and another shot of class warfare, claiming funds from property owners to be used to fund health care for others.
This revelation of a new tax on something completely unrelated to Health Care should stoke the fires for repeal — the legislation must be completely scrapped, not fixed around the edges.
In addition, every Congressman and Senator who voted for this bill without reading it or considering the tentacles that it was wrapping around all aspects of our lives needs to be held to account.
Every Last One of Them Should Be Defeated in November. Every One.