Thank you to everyone who has submitted an “Ask Fred” question. I have very much enjoyed the exchange of ideas. Here are a few of my responses. Go here to submit your own “Ask Fred” question.
Obamacare And Voting
Q (from 23669): Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That’s $3,800 on a $100,000 home, etc. When did this happen? It’s in the health care bill and goes into effect in 2013. Why 2013? Could it be to come to light AFTER the 2012 elections? So, this is “change you can believe in”? Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax.If you sell a $400,000 home, there will be a $15,200 tax. This bill is set to screw the retiring generation who often downsize their homes. Does this make your November and 2012 vote more important? 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.
A: That’s right. We’re finding out what’s in Obamacare. And don’t forget you pay that 3.8% even if you have no gain on the sale. And if you do have a gain your cap gains tax is going up from 15% to 20% PLUS the 3.8. Have a nice day AND VOTE
Romney Campaign
Q (32210): Will you be making ads for Mitt Romney? I certainly pray that you will.
A: Be happy to if they ask.
On Running for President
Q (from 38451): Mr. Thompson, Please run for president. I know there would be a land slide. I don’t want Obama in again because there will be no USA. Please help us.
A: I ran 4 years ago and there WAS a landslide. Unfortunately, I was standing on it! Seriously, thank you and stay in touch.
Budget Priorities
Q (13850): With so many smart people in the House and Senate, why are they unable to start to come up with solutions ranked by priorities…the budget being the first? We all have to manage our personal budget and stick to it…
A: Actually, smart has nothing to do with it. Harry Reid doesn’t want Democrats to have to vote on tough votes. The answer is a Republican senate. I guarantee you they would have a budget.
Politics Is Not A Cause
Q (39483): I am very concerned about Mitt. He has never really sounded close to being as conservative as i would like. You are a southerner, you know how close to the heart conservative we are. I wish you had stayed in the senate, or run for president, I think you would have won. God Bless you Senator Thompson and keep you sheltered in His arms.
A: Let’s remember that politics will never be perfect. Politics is not a cause. Our country is our cause and politics must be used to advance our cause. That involves sometimes accepting things that we don’t totally agree with. And I say this as a committed conservative–one who is very concerned about the possibility of another 4 years of Obama.
Why Don’t We Fight Back?
Q (63135): How can we get the “RNC Talking Heads” to fight back with smart comebacks like (for instance) ..this stupid Bloomberg who wishes to police our eating habits when we have issues of sex slavery and child porn traipsing across America from east to west, north to south and every which way in between! We have mothers making meth in bathrooms of Walmart! What is so infuriating to me is that these stupid political spokespersons of RNC ads or comebacks to Democrats are not shouting loud enough!!! about what is really happening to our children, our veterans, our soldiers (male and female), our allies or whats left of them. When some progressive idiot tells us we eat too much sugar, make a retort about one of these other issues. Shut their mouths with truth of reality! Hello! … Is anybody out there who really cares?
A: As Hannity would say “let not your heart be troubled” The part of the country that has any sense is laughing at those bozos in New York.
Obama’s White House
Q (38556): Why does Barack Obama get away with stating, “my White House”? Last week was the 2nd speech we have heard him make this claim. The White House is property of the American people.
A: Which will be explained to him clearly in November.
VP Nominee
Q (79720): Do you think Mitt Romney will pick Marco Rubio as his running mate, and if so, do you think Republicans will start pushing the whole Amnesty thing on us again?
A: I’m guessing Portman of Ohio.
Are You A Member Of An Organization For A One World Government?
Q (37214): Are you a member of the CFR, Trilateral Commission, Bildbergers, Club of Rome, Masons, or any of the organizations that are for a One World Government?
A: No, but I did serve a brief time as a member of the Kiwanis Club of Lawrenceburg, Tn.
The Sad Truth About The Flat Tax
Q (33043): There are so many pundits in the media and representatives in congress that support a flat tax. Why is this not a conservative mandate? It makes so much sense. I have my own theories. I’m curious what yours are.
A: Any major tax reform like the flat tax will bring people out of the woodwork against it. It’s opponents will run ads showing winners and losers and will demagogue the devil out of it. Politicians know this and avoid having to spend all their time defending all of the many charges against it, even tho it would be a heck of a lot better than what we have. Sad but the truth.
Why I Am Not President
Q (33404): Just wanted to say I thought you were great int he movie “Flight of the Intruder” but you were at your best when talking to randy weaver over the killing of his family at Ruby Ridge all those many years ago. Can we blame Rich Galen for not getting you elected President? haha.
A: Thanks so much. Yep, it was Galen’s fault. We spent too much time laughing in the back of the bus.
- Fred Thompson
Hi!
What else is in Obamacare that we don’t know about?
Does the Vatican have anything to do with the United States government?
(see the book Vatican Assassins and the website by the same name).
Please try to find the facts on the homes sales tax from the board of realtors instead of from this guy. The tax only effects upper class, or mega-earners…earining 250k a year or better. THIS IS NOT A TAX effecting the lower or middle class.
Fred, shame on you for spreading misinformation! When was the last time you read the affordable health care act?
The new 3.8% Health Care Real-Estate Tax “ONLY” affects the mega wealthy, those with incomes in excess of $250, 000.
Are you kidding me ? That income bracket describes the vast majority of all business owners in America. After you take away their Bush tax cuts, increase their capital gains tax rate, lay the new HC Real-Estate tax on them, and then ask them to bear the costs of the “Affordable Health Care” for their employees, do you suppose they might just return the favor by passing all those costs back to the consumer via higher prices, lower wages or/or outsourcing jobs to attempt to maintain their nasty old profit margins ? Shame on them, businesses wanting to make profits ! Mercy me.
Keyne’s was full of bologna. In the end the consumer will pay all tax increases one way or another and thus have that much less money to spend in the real economy. So thats not a problem ? For every government subsidized job society gets through tax wealth re-distribution, it loses another on the other side of the ledger due to a 7th grade basic algebraic law that says +1 + -1 = 0, period ! So get real.
Re-distribution of existing wealth (i.e. taxes on the wealthy) does not add speck of wealth to the pot. There are no new jobs to come from re-distribution nor government jobs programs. You cannot raise the level of water in a swimming pool by scooping water out of one end of the pool and pouring it into the other. You need new outside water and that takes a new provider from outside the loop. Think new employer. How can we encourage him/her to get into the pool ? Duh. Get it ?
Regarding the thought of Marco Rubio for VP, since his parents were born in Cuba, that does not qualify him as a Natural Born Citizen in the event that he had to replace Romney in the White House. Do you think that if the Romney team picks him for VP it will disenfranchise those conservatives who believe in Article 2 of the Constitution?
Fred,
Per Q (37214): I’ve been a Mason for over 25 years. We aren’t interested in “ruling the world, or a one world government. In fact, most of the Masons I know are PATRIOTS. Your questioner may be interested in looking up how many signers of the Declaration of Independence were Masons.
I believe the 3.8% tax on home sales will only affect persons withh income of $200K, ($250K if married). Is this correct?
What in the world gave that person the idea that Mason’s wanted a one world government?
That is just not true. We are Mason’s, OES, etc..and we all want smaller government, for the president and congress to adhear to the CONSTITUTION, to stop illegials, which do include all the muslims coming here weekly at our expense. We do NOT want a one world government, we want a consertative government and less government control of all aspects of our lives.
Re: Why does the GOP not fight back?
The GOP needs to stay on message. Everytime the opponent
opens up a new front (such as the recent immigration announcement)
it distracts attention from the real issue – the economy. Let the
opponent bloviate all they want about ancillary issues. Let the GOP
keep the focus where it belongs.
PS – It looks as if the opponent is hoping to run against George Bush
yet again.
Please explain how the Republicans were forced to sign the obama healh edict and why they allowed Gorelic (I think her name was) on that committee and why they did nothing to Berger with his sox full of papers? And how do we educate the press to know what is happening to our country? Why did they run McCain the RINO and why does the party not support strong conservatives?
After you explain all this, tell us how we can get the politicals in DC to live by the rules they put on us and to quit using our Social Security funds to pay for their stuff.
And how we get rid of this elite, rich class we have made, and which our founders never intended.
I have been a 32nd Degree Mason for over 45 years and have never — ever — heard the organizational support of OWG or the NWO! You have allowed the left hand progressives suck you into their misleading beliefs and rhetoric… becoming thier messinger. I love ya man, but on this one… ya got played!
Our founding fathers are spinning in their graves at this notion!
Be well,
Shavis
Not true about the real estate sales tax, unless you make over $250 K per year. Click:
http://www.forbes.com/sites/beltway/2012/04/02/there-is-no-obamacare-tax-on-most-home-sales-really/
Think about it not everyone believes in god, as the bible says much but one thing us gods will be done and many have turned their back on god, how did this country get started. My own opinion about obama he just wants america to fall he is not here to help but only hurt our county how many lies has he been caught in over what little truth he has said and he sure acts like a king not a president.
Fred, you are a true politician. When asked a question you go e an answer that says nothing. The RNC is a bunch of politicians like you also. They say nothing. They WA t donations and ride the Tea Party coattail. They along with the Democrat congress people got us into thus mess and don’t care to get us out….why should the. We the people did NIT put us where we are. The Congress did… Rep & Dem.
This didn’t happen overnight. Mitt Romney is NOT a conservative and never has been. Be like ALL politicians say anything they need to get elected then do as they please. Mark my words. Of course I will vote Romney only because we need to get rid of dictator we have. And again Congress is the ones permitting Obama to dictate. Take his new how to get votes executive order on illegal immigrants. Is Congress stopping him….NO….WHY they also want to keep their well paying jobs.
And what do you say to that….nothing.
I am a mostly conservative Republican and I am totally against Obamacare, no matter which provision you point to, but I deplore the use of incorrect information. The statement about the 3.8% sales tax is incorrect. As you can see on the Snopes analysis of this question, it wouldn’t even affect most seniors who are trying to downsize. http://www.snopes.com/politics/taxes/realestate.asp
Mr.Thompson’s statements on the “home tax” are incorrect. You will not pay a nickel on a $100,000.00 sale or a $250,000.00 sale. The tax kicks in when the capital gains exceed $250,000.00. So, if you sell your house and make $251,000.00, you will only pay the tax on the $1000.00.
Fred, your answer to the question of whether or not we will all be paying the 3.8% tax on the sale of our homes after January 1, 2013, is NOT CORRECT. This tax will only be imposed on the sale of your primary residence, not all real estate transactions, and will only apply to the gain on the sale over the targeted amount of $500,000 for couples and a lesser amount for singles. The capital gains exclusion DOES still apply. And yes, if the Bush tax cuts are allowed to expire at the end of this year, capital gains tax will increase back to what it was before the tax cuts were instituted. You can call this a tax increase if you wish, but technically it is only a return to what the rate was BEFORE the Bush cuts went into effect. Please check your facts!
The question to and answer of the first question is very misleading. The law only covers the sale of homes over $250,000 for a single person and $500,000 for a married couple and only applies to single people making over $200,000 per year or joint filers over $250,000. So the idea that a home owner who sells a $100,000 home has to pay this tax is patently false.
It is incumbent on our elected officials to do their due diligence when communicating to constituents. Failure to do so does both the constituent and country a disservice.
I think this item (3.8% sales tax on home sale) is not accurate. There are a number of web sites which say that this is imposed only if: 1 your total income is over $250K and 2. There is a gain on the sale. Then you will pay the 3.8% on portion of the gain over $500K.
It is bad enough, but important I think to clarify the facts. Your message above says the tax is levied on the value of the sale, regardless of other circumstances, which in fact would be much much worse!
The information that you are putting out on the home tax is false. It only applies to the excess capital gains from the sale. For a couple that would be profits in excess of $500,000. You can verity this information on Snopes.com
Fred answed that correctly when he satated that “Politics is not a cause”. It should be but it is not so to the GOP. The Dims are always fighting for their causes to allow the minorities to control the majority but the GOP Politicians just play the game of keeping their positions. I don’t know the answer but for now we must always vote against the Democrats at every level and fight for conservatism.
When the GOP wins in November, our new President can issue an “Executive Order” on the Flat Tax Issue, After all, Obuma uses it many times and no one slaps him down, I assume it must be legal. (Isn’t it what Truman did with the Railroad Strike problem when he was in office? ,,,Basis for the saying, “The Buck stops Here”)
Pat FlatTaxer;
O Goody! A 15% sales tax on groceries, IN ADDITION to local sales taxes. That pops Grandma’s sales tax on her Repugnican diet of catfood to over 21% in many locals. I know that you think that those over a terminal age shoud be Soilent Green (OK, I don’t know how to spell that, and I know most of you Repugs don’t know the reference anyway) then we can eat those old folks and the Great Repugnican Society will be a success! No more old people holding back our health care or Veterans Admin. system!
The lesson I gained from Watergate was to not disbelieve anything about the Federal Government, no matter how far-fetched. Which is why I have problems with all the emails alleging the Democrats and/or Obama pulled out a gigantic fraud regarding his citizenship, birthplace, and other disqualifications. I can’t believe Bob Woodard, or some other sharp investigative reporter, would not have blown open such a blatant falsehood – if it were so. The alleged collective media bias for Obama can’t be true ‘ reporters are too competitive to every join forces in important matters. I’ll give Nixon credit for one thing – he didn’t take us to war. He inherited Vietnam. You praise our Founding Fathers for their right-headed separation of powers; but, today we have Congress refusing to accept their responsibility for declaring war, a President who acknowledges his inability to by executive decree circumvent laws passed by Congress, then does it anyway, and a Supreme Court that makes law without authority. Where do we go from here?
I am more concerned about what this fraud really trying to accomplish. He is a muslim and he is using these groups to get the support he needs as well as voting him back in. Blacks, perverts, baby killers, unions, mexicans. The perverts will be suffer, muslims hate them, blacks (not all) will lose life and limbs, the rest will be silenced, there want be any telling them what to do nor can they pal up with muslims because you are muslim or you are dead, no if ands or buts. ,
Fred,
Were you really surprised by the Supreme Court ruling last week on Obamacare?
I wasn’t! There have been no supreme court rulings since 1960 that are constitutional, The Supreme Court does not solve problems—-they are part of this big
problem that we have in Washington. Our only hope is that the tea party movement will get us constitutional leaders in the federal levels. We are making good progress where I live—–Florida!
Still reading from a script, Fred? Make believe is for the screen. I used to like you but when you spout lies just because you’re a Republican, I have to take a good look and change my opinion. Whever happened to the truth?
why do you lie like that? you know well that the 3.8% tax only applies to people making over 200,000. a year, or 250,00. for a couple. even then, the tax is only on profits made on a home sale, when there is more than 500,000 in profit from the sale, and then only from that portion of the profit over 500,000. so, bottom line fewer than 1 in 50 people selling their homes who are lucky enough to be rich, will be paying that tax, which goes to support medicare.
dave mcsparran
The tax on primary home real estate transactions of 3.8% applies only to individuals making over $200K or married couples making over $250K. Then, it only applies on the profit from the sale that is over $250K for individuals and $500K for married couples.
Please be accurate; it only hurts when there is a opportunity to call the message a lie.
Hey Fred how about letting the truth out instead of internet rumors. You won’t so I will.
In debunking the rumors, the National Association of Realtors starts by saying:
“There is neither a real estate “sales tax” nor a real estate transfer tax under any federal law. The Internet has generated several viral items describing such a tax. Those Internet postings are totally false. The 2010 health care legislation did create a new 3.8% tax, but it applies only to a limited group of taxpayers.”
The 3.8 percent tax (which will help pay for Medicare, by the way) applies only to “unearned income” for upper-income earners, those making $200,000 annually as a single person or $250,000 as a couple. Already this narrows the pool of people down substantially as an analysis a few years back found that just 1 in 50 households earn more than $250,000 annually. And remember unearned income doesn’t include your salary, pension, 401k or IRA. Examples of unearned income include dividends, interest, and capital gains.
But the group of people potentially impacted gets even smaller when you dig into the details. FactCheck.org describes this further:
“And even for those who have such high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal [primary] residence — or to the first $500,000 in the case of a married couple selling their home.”
So for the sale of your primary residence to be subject to the 3.8% unearned income tax your profit must be more than $250,000 for a single person or $500,000 for a couple. And the only taxable portion of the sale is the amount over the threshold. So if you and your husband sell your home and make $510,000 on the deal (congratulations by the way), then you are only taxed on the $10,000 over the threshold or $380.
Truth!
Sure Fred. Did you know that Republicans are baby killers?
I think it’s been well covered that Fred’s 3.8 tax explanation is false, but it’s even farther off than is being explained. Even in the ratified climes in which people would have to pay it is not on the sale price, only the gain. If you are pulling in the required income, and you sell your house for $400,000, and you bought it for $375,000 the tax is on the $25,000 gain not on the $400,000. Fred’s statement.” If you sell a $400,000 home, there will be a $15,200 tax” is false unless you paid nothing for the house and the entire $400,000 is gain. In which case you hardly have grounds for complaint.
Lisa, there are a slew of things in Obamacare you probably don’t know about, and a slew of things you do know about it that are not in it at all. It has been the subject of the largest and most successful disinformation campaign ever perpetrated on the American people. Wikipedia has it under “Patient Protection and Affordable Care Act.” Check it out for yourself.
Lisa, there are a slew of things in Obamacare you probably don’t know about, and a slew of things you do know about it that are not in it at all. It has been the subject of the largest and most successful disinformation campaign ever perpetrated on the American people.
Here’s the Wiki: http://en.m.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act#section_9 check it out for yourself
Thank you, Stephen.
The readers can find out even more about why the “ObamaCare” law is finally a moral approach and really a conservative approach to being American at Consumer Reports or the AARP website. For the rest of you too full of antiAmerican hate to take a little time to get some facts before you spew, well your heads probably just exploded anyway.