Tuesday, August 28, 2012

Follow up to this morning's post ("my take on taxing home sales")

The email message I included in this morning's column suggested that anyone selling a home would pay a 3.8% tax on the entire proceeds. That would be factually incorrect. To the extent one would suffer the tax is subject to several parameters. Here's an excerpt from factcheck.org on the subject (btw I see where both sides of the aisle have accused factcheck of playing politics. I think we're safe on this one - the facts appear to leave little room for partisanship):

"The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. And even for those who have such high incomes, the tax still won


  1. We should all know by now that once anything is impemented by government the taxes either go up or the costs go up. Therefore I'm afraid if this tax is put inplace and Obama Care is not squashed the tax itself may someday include those who can least afford it. Espeacially as the costs of Obama care rises. And it will rise.

  2. Our health care costs as a %age of GNP (17%, compared with an industrialized national average of 9% for universal systems) and our overall poor performance--these are well-known and totally valid observations about our chaotic health care scene. If you are a fan of US health care, by all means support the status quo.