Another nice thing brought to you by this benevolent administration....... a new, in 2012, 3.8% tax on all GROSS real estate transactions.
That's right kids.. sell your house for $200,000, Barry will want $7,600 right off the top.
And you think there are a bunch of home owners under water now?
BTW….. That will be on top of the 30% capital gains in 2012. I know, you say you don’t have to pay capital gains when you sell your principal residence……….. Wrong!!! Barry is taking that exemption away too.
Every body happier now? Let’s all hear it for Barry!!!!!!!!!