Wrong again, Jim Hoft

In a May 13 blog post, Jim Hoft pushed the false claim that the recently passed health care reform law taxes “all Americans” 3.8 percent “when they sell their home.”

Hoft cited a March 28 op-ed in the Spokane, Wash., Spokesman-Review by Paul Guppy of the Washington Policy Center, which claimed that the health care reform law "[i]mposes a 3.8 percent tax on home sales and other real estate transactions. Middle-income people must pay the full tax even if they are 'rich' for only one day -- the day they sell their house and buy a new one."

But as FactCheck.org has noted in response to the question, “Does the new health care law impose a 3.8 percent tax on profits from selling your home?”:

No, with very few exceptions. The first $250,000 in profit from the sale of a personal residence won't be taxed, or the first $500,000 in the case of a married couple. The tax falls on relatively few -- those with high incomes from other sources.

FactCheck further explained that, contrary to the claim that the tax would affect all Americans, “only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it”:

The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. 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 residence -- or to the first $500,000 in the case of a married couple selling their home.

Given Hoft's history of pushing falsehoods, it's not at all surprising he couldn't be bothered to check this one out before running with it.