Those already outraged by the president’s health care legislation now have a new bone of contention — a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.
By RICH BLAKE at abcNEWS
The issue is rising to the fore just as gold coin dealers are attracting attention over sales tactics.
Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently, 1099 forms are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals.
Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.
This provision, intended to mine what the IRS deems a vast reservoir of uncollected income tax, was included in the health care legislation ostensibly as a way to pay for it. The tax code tweak is expected to raise $17 billion over the next 10 years, according to the Joint Committee on Taxation.
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61% Expect Rise in Health Care Costs Under New Law, 56% Favor Repeal
Speaker Pelosi was right. We had to pass Obamacare to see how bad it really is. It just keeps getting worse and worse.
Now that 20 states are challenging ObamaCare in court, congressional Democrats and the White House are being forced to answer the question.
Obama lied to the yellow dog Democrats. His ‘Executive Order’ meant nothing. How’s that hope and change working for you Stupak?
Kansas Sen. Pat Roberts on Obamacare and the back door appointment of Berwick to head Medicare and Medicaid.
Obesity Rating for Every American Must Be Included in Stimulus-Mandated Electronic Health Records, Says HHS
If the American people want the health-care world Dr. Berwick wishes to give them, that’s their choice. But they must be given that choice.
The Democratic co-chair of President Obama’s fiscal commission said Wednesday that the president’s health care bill will do very little to bring down costs, contradicting claims from the White House that their sweeping legislation will dramatically impact runaway entitlement spending.
What I am wondering, actually, is just how stupid does he think we are? He is thinking that enough of us are too stupid to know that his socialized medicine bill doesn’t go into effect until 2014, and that he can play us for fools with this kind of shameful, manipulative, abusive rhetoric.
The Obama Administration will give Pennsylvania $160 million to set up a new “high-risk” insurance program under a provision of the federal health care legislation enacted in March — and has quietly approved a plan submitted by an appointee of Governor Edward Rendell (D) under which the new program will cover any abortion that is legal in Pennsylvania.
“He’s a romantic about Britain’s National Health Service, I hear,” said Pat Boone, American singer, actor and national spokesman of the 60 Plus Association. “Well, he’s the kiss of death for old folks. Unless he’s stopped.”
