Do you plan to retire some day? Here is a kiss for you!

very well stated

 

yes..I did read every post here, as well as some things I did not want to read. hehe.

 

A sales tax on a home amounts triple-taxation on a home.

1. All homeowners pay yearly property tax. Right up until the day you sell it, or the day you lose it to the bank.

2. If you sell it for enough profit you pay capital gains tax on the "excess income".

3. The Obamacare tax is a clone of the capital gains tax.

There are several problems here.

(Property tax is not one of them. It is local and controlled by local voters, supplying basic needs for the property owner's community. The breadth of these needs and their cost is also determined by local voters.)

1. The Federal government supplies no service(s) to the home-seller they are taxing. They are taxing the seller in order to finance Obamacare. It's pretty well known that the bulk of the capital gains crowd opposes Obamacare. So there's an excellent case for taxation without representation here.

2. There's a huge difference between...

A.- putting 30 years of your life into a home, working on it, foregoing other things to pay for it, maybe working a job you hate and throwing out your bucket list just so you can leave something solid for your kids to build their lives around, and...

B.- floating a construction loan to buy a foreclosure, spruce it up for cheap and then flip it the same year while doubling your money.

A. is what made America the envy of the world.

B. is what caused the recession.

I should point out that there are a myriad of legal ways to record the ownership of your home, and as many ways to actually sell it, that will shield most people from either tax.

 

Thanks for your opinion. Once again, you've decided to appoint yourself to be the judge, jury and executioner as to what is correct, yet you can't figure why on earth anyone would call you arrogant. I guess cluelessly arrogant would be a better term.

 

You're deciding what is and isn't reasonable to pay, what is and isn't a lot of money, how long people live and don't live in their houses, what people can and cannot afford and what elderly people should and shouldn't do with their own money.

You don't think that's unreasonable. Others disagree.

 

I decided to look at my parents situation, since my father just retired.

In 1985 they bought a house for 330k. My father just retired, my mom is still a realtor. I asked her how much her house is worth, she was pleased to tell me it's at about 850k now. So for my parents, 850-330= 520,000. Of that profit, 500,000 they would not need to pay taxes on. They would owe 3.8% of 20k or $760.

My whole point in all that about my parents is they are quite well off, well above average, although shy of wealthy. And this tax would impact them to the tune of less than 1000. Currently they are on a three week cycling trip in France. If a tax like this would be so inconsequential with people who can afford frequent vacations like that, then I think it's not going to NEGATIVELY affect an average retired couple. Of course it could POSITIVELY affect them, but that's to far a bridge to cross at the moment.

 

It's hilarious to read all these, "these people can pay just a little bit more" comments. It's so fucking backward it's not even funny. All people can see is free shit for themselves. Let someone else pay for it.

How about being personally responsible? Nope, that's now how America rolls these days.

Just remember, once you've bled the "rich" dry, they're coming after the middle class. And for those who can't do math, there's no way to finance all this "free" shit without taxing the shit out of those people who just wanted something for nothing.

 

There's so much rich in America, it would take centuries to bleed it try at 3.8% of profits over half a million made per transaction. The myth of Peak Rich is just that, a myth. Bleed baby bleed!

 

I imagine you momma thinks you are a fine boy julius, but don't you worry, I am sure you won't get stuck with this tax. If you can't visualize how it would happen, it won't

 

We have a place in Panama that we hope to retire to soon

 

I can't wait till we all get our free health care. I'm going to go party at the hospital, with MRI's and colonoscopies twice a day. Just because I know you and Mar can afford it.

 

I imagine you deserve colonoscopies twice a day. But I suspect you never had one!!!

 

well depending on the plan, that may be an out of pocket expense. oh, and remember your deductible can be as high as 40% with zero prescription coverage..

 

I'm still waiting for you to see how an elderly couple on an fixed income can live in an extremely expensive house. Hint...it wasn't expensive when they bought it. You keep reaching for that rainbow; I have faith in you!