This is the email I got. Its in 3 parts and long time members may recognize the formatting, I get emails from this guy every now and then. And usually he has words in there that I don't want someone to accidentally think came from me, so I post his emails as images. Well, here is the latest.

This all sounds very scary and is worded to make it think that if you sell your house for a profit, BO will get a cut. Well, that is not true for 98% of the people.

Here are the details that make the difference:



1. If you make less than $200k then this doesn't apply to you ($250k if married filing jointly).
2. This only applies to taxable profits from the sale of a home. So, if you bought your home for $100k and sold it for $100k, there are no profits - no tax.
3. The first $250k in profit won't be taxed ($500k if married) - so long as its your main residence and you have lived there for 2 consecutive years.
So, this means that if you and your spouse bought your house for $100k and sold it for $600k there would still be no additional tax burden.
4. There is no exemptions for second homes for people making more than what is listed in #1. Only your primary residence is exempt - unless you make less than $250k as a married couple. Then you are exempt.

So..... this is expected to affect only those in the top 2%.


I am sure there are valid reasons to like and to dislike this tax for what it is. The problem is when people intentionally misrepresent the legislation. Say its bad because trickle down is good and no one will get trickled on this way. Say this will stymie home sales. Whatever. But don't try to use lies to scare the 98% of the country who will be unaffected by this into believe that they are going to take a hit when they sell their house.

The troubling thing is, it isn't just this looney email. Its also an official stance from gop.gov - Republicans in Congress. Nice

http://www.gop.gov/blog/10/04/08/obamac ... taxes-home

Find out more here: http://www.factcheck.org/2010/04/a-38-p ... your-home/

Typical right- wing conspiracy crap.
No plan, no philosophy, just a regurgitation of the latest loony tunes crap coming out of the RNC. Another mad dog howling in the wilderness.
Scary to think of what goes through the heads of these fruitcakes when they get a glimpse of Sarah Palin's map of " surveyor marks ".

Eh, it could be worse. They could be using outright lies and deception to manipulate the vast majority of the populace-whom this would clearly not apply to, in an attempt to instill fear and breed contempt.