Home Sales Tax

Real estate home sales – – I believe Nancy Pelosi said something like if you want to know what’s in the healthcare bill  (Obamacare) you have to pass it. Well, unfortunately as we all know, with a lot of backroom deals, Obama care is now law, and we’re slowly finding out really what’s in it.

I know I’m going to get a lot of flak on this, but the flak will be mainly over my use of the term “tax.” It seems politicians are great on trying to trivialize facts; they get into the minutia of the debating the meaning of common words. So, tax may sound better as a fee, a levy or even a deduction. For the sake of this post, I’ll go with calling this what I think it is, a tax. Buried deep inside Obama care is a provision that starting in 2013 (it’s not a coincidence that this starts right after the presidential elections) if you sell your home, or for that matter any real estate you may be subject to the new Obama care 3.8% sales tax. Read more