The country has been in a huge up roar about the current 3.8% tax to be accessed in the new Health Reform Bill......
Many people are worried this a a direct tax that will happen in any event that you would sell your home...That is not the truth at all!
The 3.8% tax is only on profits above the capital gains exclusion, (which is $250k for singles and $500k for couples who meet the criteria). Capitol gains taxes only apply if you have owned the home for less then 2 years!
Therefore, if a single person buys a $250,000 house and then sells it for $500,000, there is no capital gains tax and no 3.8% tax. (Or, a couple buys a $500k house and sells for $1,000,000 - no capital gains tax and no 3.8% tax. And the gain is applied on the total profit of the home minus the amount of cost for the home and any improvement you have applied to the home...
Unfortunately there are many organizations that are suggesting this is a 3.8% sales tax on the whole real estate transaction. Unfortunately many chose to believe them and don't read the fine print, therefore, are causing some hysteria by spreading incorrect rumors.
Investments are another matter, but it won't affect the average home owner substantially