Debunking claims about a new home sales tax
By Robert Higgs
Published on Thursday, July 26th, 2012 at 12:15 p.m.
Did you get the chain email that claims the health care law will institute a new tax on home sales?
Here’s the email many readers have forwarded to us:
"Under the new health care bill — did you know that all real estate transactions will be subject to a 3.8% Sales Tax? The bulk of these new taxes don’t kick in until 2013 (presumably after Obama’s re-election). You can thank Nancy, Harry and Barack and your local Democrat Congressman for this one. If you sell your $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation who often downsize their homes. Is this Hope & Change great or what? …
"Oh, you weren’t aware this was in the Obamacare bill? Guess what, you aren’t alone. There are more than a few members of Congress that aren’t aware of it either (result of clandestine midnight voting for huge bills they’ve never read). AND, there are a few other surprises lurking."
The email’s claims are wrong, but that hasn’t stopped people from pressing the forward button.
We’ve received copies of this email regularly since 2010. We’ve debunked it before, but since it’s still out there, we’re going to review the facts again now.
See related statements.
Researchers: Angie Drobnic Holan
Names in this article: Chain email
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