Updated almost 12 years ago on . Most recent reply
3.8% tax on real estate to fund Obama Care
What are your thoughts on this? It is supposed to take start 2013.
You think this will actually go into effect?
- Robert Adams
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- Mercer Island, WA
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
There are many, many, many ways our government spends money that I don't agree with. And many, many, many ways out government skips collecting money (i.e., tax breaks of various sorts) that I also don't agree with.
But I dislike even more how something like this is extracted out of context and spun into something it absolutely is not. And those spinmeisters who create a lie by presenting this as something its not are far more dangerous and disruptive to our country than misspent taxes and misapplied tax credits. Because many people will hear "3.8% tax on real estate" and make a decision based on thinking they're going to have to pay a 3.8% tax on the sales price directly to fund obamacare when they buy or sell. Unlike you, me, and J Scott, they won't bother digging deeper. They will believe the spin, and incorrectly be angry about something that doesn't actually exist. Which is exactly what these spinmeisters want.