Posted by Charles_Ca on 4/22/10 5:22pm
Msg #332924

3.8% Real Estate Federal Tax may not help business

It appears that there may be a new 3.8% Real Estate Tax being considered as part of the healthcare inivciative. This is not a political post, it may affect your future business and probably will. If you support it contact your legislator and if you oppose it do the same. I think a new tax on real estate transactions may not be the best thing for our business.

Reply by MW/VA on 4/22/10 5:25pm
Msg #332926

Wow. Everyone wants a piece of the action is RE deals. Unbelievable!

Reply by PAW on 4/22/10 5:27pm
Msg #332928

The 3.8% Medicare surtax would hit average, middle-class investors in real estate. A middle-class taxpayer who happens to sell real estate for a significant gain in a particular year would be liable for this new tax, regardless of how low her income might be in other, more typical years. Since there hasn't been too much going on in the investor market anyway, I don't see too much of a hit on us. (At least not in my area.)

Reply by Charles_Ca on 4/22/10 8:19pm
Msg #332939

Unless economic principles are different in the Bermuda

Triangle from same principles in the Emerald Triangle I usually find that any tax is a burden on business resulting in some chilling effect. I hope you are right!

Reply by Susan Fischer on 4/22/10 9:58pm
Msg #332957

"...any tax is a burden on business..." give it up, Charles.

Do you purchase various insurances? Internet access?

Do you live in a fire/police protected community?

Do you purchase municipal water, electricity, gas; sewer, garbage services?

Aren't all of life's expenditures a form of taxation?

Reply by Charles_Ca on 4/23/10 11:48am
Msg #333012

there you go susan WRONG, WRONG, WRONG, expenditures

are not taxation. Why don't you talk about something you actually know something about. Oh, wait, if you did that you'd have nothing to talk about.

Reply by MikeC/NY on 4/23/10 12:47pm
Msg #333035

Not exactly...

http://www.snopes.com/politics/taxes/realestate.asp

Reply by mwm143 on 4/23/10 1:57pm
Msg #333053

Gotta love Snopes.com n/m

Reply by MikeC/NY on 4/23/10 6:03pm
Msg #333134

Amen to that

Between snopes.com and factcheck.org, you can usually get to the bottom of it...