What Happens After 2012

[HURRICANEBOB]

I just copied the email as it was written to see what everyone thinks about it. I heard a discussion about the health care bill a while back and the reporter said we will all be surprised at some of the pet projects hidden in it that are yet to be revealed.

The housing market is a lot tougher than a lot of people realize. My sister has had her house on the market for 3 years and has reduced the sale price by about $100,000 and still nothing but lookers.

And what amazes me is the builders just keep putting them up. I sympathize with the builders, they got to eat too. And to be fair, in my subdivision where 12 house have been on the market for over 360 days, 2 newly built houses sold within 30 days of completion (they we're build to order. So to some degree, I can see the method in the madness. Why buy a devalued older house, when you can buy a devalued new house with better energy efficiency, a warranty, and new applicances and mechanicals.

I have a KY Real Estate license that's been sitting in moth balls since 2007. Someday, maybe it will be worth paying the dues to go live with it.

[RoadToad]

I thought none of us were going to HAVE houses after 2012?

Sorry, when I read the title of the thread I thought it had to be something about the Mayan calendar.

[kyfanatic]

Don't you all know that the world is going to end on Dec 21,2012?
Personally,I thought it ended on Nov 8th,2008

[kygorski]

The beginning of the end, the trumpet call, nov10th 2000, supreme court elects president!

[HURRICANEBOB]

SEC. 1411. IMPOSITION OF TAX.
(a) IN GENERAL.—Except as provided in subsection (e)—
(1) APPLICATION TO INDIVIDUALS.—In the case of an individual, there is hereby imposed (in addition to any other tax imposed by this subtitle) for each taxable year a tax equal to 3.8 percent of the lesser of—
(A) net investment income for such taxable year, or
(B) the excess (if any) of—
(i) the modified adjusted gross income for such taxable year, over
(ii) the threshold amount.
(2) APPLICATION TO ESTATES AND TRUSTS.—In the case of an estate or trust, there is hereby imposed (in addition to any other tax imposed by this subtitle) for each taxable year a tax of 3.8 percent of the lesser of—
(A) the undistributed net investment income for such taxable year, or
(B) the excess (if any) of—
(i) the adjusted gross income (as defined in section 67(e)) for such taxable year, over
(ii) the dollar amount at which the highest tax bracket in section 1(e) begins for such taxable year.
(b) THRESHOLD AMOUNT.—For purposes of this chapter, the term ‘threshold amount’ means—
(1) in the case of a taxpayer making a joint return under section 6013 or a surviving spouse (as defined in section 2(a)), $250,000,
(2) in the case of a married taxpayer (as defined in section 7703) filing a separate return, 1?2 of the dollar amount determined under paragraph (1), and
(3) in any other case, $200,000

I'm not rich enough to have this problem