Quoting Rapides Parish Police Juror Steve Coco via his website, CenlaNews (bold mine):
The FEDS want more of your money as Americans are learning the bad news.
The new health care bill rammed through Congress by the Obama Administration orders a 3.8% sales tax on home sales in 2013.
The tax, verified by snopes, is on “unearned income” or all investment income, plus home sales.
The health care reform bill was a thousand pages and no one had time to read it, including members of congress.
Nancy Pelosi said “we have to pass it to find out what’s in it.”
Well, read it and weep.
That’s hope and change you can believe in. Higher taxes and more federal debt.
This is shoddy reporting.
Snopes.com has never “verified” Mr. Coco’s claim that the health care bill “rammed through” a “3.8% sales tax on home sales in 2013.” The claim is both misleading and false.
You got that? If your family makes more than $500,000 in PURE PROFIT from selling your “home,” yes, you MAY have to pay an extra 3.8% in investment income taxes in 2013. Juror Coco, who fashions himself as a newsman and falsely suggests that his claim is backed up by an independent fact checker, is completely misleading his readers.
It’s worth pointing out: In Central Louisiana, no one has ever resold their personal home and made more than $500,000 in profit. It’s never happened. With all due respect to Mr. Coco, I don’t believe there is any connection, whatsoever, between the federal debt and a marginal increase in investment income taxes (which would only affect the super-wealthy, minimally and inconsequentially).
So the doom and gloom, the ridiculous grandstanding about taxes and debt: If you want to argue against health care reform from the perspective of a beleaguered family who made more than $500,000 in profit from selling their home, that’s your right. I’d guess, though, that most people would prefer to have an honest and factual discussion.
One more thing: Mr. Coco is, after all, an elected official. He should know the difference between sales, property, income, and capital gains taxes. If he doesn’t, I suggest he exercise some caution before republishing bogus and stupidly conspiratorial chain letters.