Are you really concerned about liberty?

[SemperFiUSMC]

Here's the biggest single threat to liberty that's come along in 20 years. And it's already law.

Obamacare included a provision that all businesses must track and issue 1099s to anyone they pay more than $600 per year. Read the article to see some of the various issues this onerous provision introduces.

The new 1099 rules will drive the IRS into everyone's pocket. Small businesses will go underground or shut down, or be seized for failure to comply. And for what? To catch the first or second guy in the food chain that do business in cash.

This bill will kill small businesses. It will ensure that only large business with the manpower and resources to comply are allowed to conduct commerce. It will limit your choices as a consumer, and cause upward price pressures on all goods. It is bad and must be stopped.

An Ugly Side Effect of New 1099 Law: More Tax Evasion - FoxBusiness.com

 

[mcolford]

There is NO small business that doesnt do a good share of their business on a cash basis. Plain and Simple. They cant survive otherwise.

-MColford

 

[teddy12b]

"Are you really concerned about liberty?"

Yes, I am. Somehow I thought this was going to be about all the discussion as of late that they are considering laws against walking and texting at the same time.

Who'd have thought that an over 2,000 page bill that wasn't read would include more than just healthcare? Every passing day I am suprised that this country is holding together and I wonder when enough people are going to be fed up with all the BS. I think it says a lot about the character of Americans that we don't have the riots in the streets, yet.....

I just hope everything holds together till the next election.

 

[chraland51]

Did any of you read about the provision to tax any real estate transactions after 2013 to help pay for bammercare? It is really in the bill. I can not quote you chapter and verse, but it was discussed in Newsmax just yesterday. Our leaders never thing about ways to cut the budget, they just sit on their fat a$$e$ and think up ways to nickel and dime us to death. Nearly every day something else comes out that is in bammercare that will cost us all a lot of money and this is from a guy that we actually know very little about.

 

[mrjarrell]

https://www.indianagunowners.com/fo...tly_irs_mandate_slipped_into_health_bill.html

As is often the case, Fox is behind the curve. It still bears repeating, tho.

 

[Stschil]

Here's the biggest single threat to liberty that's come along in 20 years. And it's already law.

Obamacare included a provision that all businesses must track and issue 1099s to anyone they pay more than $600 per year. Read the article to see some of the various issues this onerous provision introduces.

The new 1099 rules will drive the IRS into everyone's pocket. Small businesses will go underground or shut down, or be seized for failure to comply. And for what? To catch the first or second guy in the food chain that do business in cash.

This bill will kill small businesses. It will ensure that only large business with the manpower and resources to comply are allowed to conduct commerce. It will limit your choices as a consumer, and cause upward price pressures on all goods. It is bad and must be stopped.

An Ugly Side Effect of New 1099 Law: More Tax Evasion - FoxBusiness.com

This isn't just Employer/Employee payments, either. It's ANY transaction over $600. IE: If I buy $600 worth of pre 1963 silver coinage, that transaction must be reported to the IRS as of Nov 1, 2010. This paperwork must be processed by the business and reported within the specified time frame (I can't recall the specifics).

This is more than the IRS getting into our pockets more and more, it's a Gov't sponsored program to spy on the spending habits of it's Citizens.

Tin foil hat time, I admit, but hear me out. People are getting smarter and realize that Credit Card companies are handing over transaction (though anonymously) data to the government so they have started to make cash transactions to avoid undue attention. Uncle Sammy knows this and can't stand it, so guess what? The OBummercare program gave them a great place to hide a new law that not only allows them to continue this data collection, it also IDENTIFIES the person who spent the money and what they purchased with it.

 

[rambone]

Tin foil hat time, I admit, but hear me out. People are getting smarter and realize that Credit Card companies are handing over transaction (though anonymously) data to the government so they have started to make cash transactions to avoid undue attention. Uncle Sammy knows this and can't stand it, so guess what? The OBummercare program gave them a great place to hide a new law that not only allows them to continue this data collection, it also IDENTIFIES the person who spent the money and what they purchased with it.

Oh don't be silly! Why can't you just accept everything the Feds do at face value and ignore the history of what the they are capable of? There's no spying!

 

[edporch]

Though I'm against this new law, it won't change much for me personally.

For many years, I ALREADY have had to send 1099's to any non-incorporated entity that I paid $600 or more, IF I plan to deduct the expense on my taxes.

This new law is an incremental increase in government oversight into our lives.

 

[John Galt]

I have heard both parties attack the 1099 law, so I think it will be repealed just for window dressing.

To answer the question, I AM concerned about our liberty, as the problems we are having are of such a magnitude to NOT be intentional. I see our government as corrupt and doing everything possible to increase their strangle-hold over society. With the devastation done to the dollar/savings and the obligations that are being fostered upon current and future generations, plus the fact that NOT ONE banker has been prosecuted yet for the multi-TRILLION dollar financial fraud of the past decade, and a private entity, the Fed, is in control of our money, yeah, I'm concerned.
I think America is squeaking by in spite of all of this due to the ingenuity of the individual. Imagine the success of the country if the government would just get out of our way and enforce Natural Law, as intended!

 

[ATOMonkey]

Did any of you read about the provision to tax any real estate transactions after 2013 to help pay for bammercare? It is really in the bill. I can not quote you chapter and verse, but it was discussed in Newsmax just yesterday. Our leaders never thing about ways to cut the budget, they just sit on their fat a$$ and think up ways to nickel and dime us to death. Nearly every day something else comes out that is in bammercare that will cost us all a lot of money and this is from a guy that we actually know very little about.

Google-fu reveals a 3.8% medicare tax on income derived from investment, when total income exceeds $250k.

So, if you make $250k, and you sell your house and buy another and pocket, say $10k as a profit, you will owe uncle sugar $380.

 

[Leadeye]

The law certainly improves the revenue stream for accounting and law firms.

 

[88GT]

Did any of you read about the provision to tax any real estate transactions after 2013 to help pay for bammercare? It is really in the bill. I can not quote you chapter and verse, but it was discussed in Newsmax just yesterday. Our leaders never thing about ways to cut the budget, they just sit on their fat a$$ and think up ways to nickel and dime us to death. Nearly every day something else comes out that is in bammercare that will cost us all a lot of money and this is from a guy that we actually know very little about.

Google-fu reveals a 3.8% medicare tax on income derived from investment, when total income exceeds $250k.

So, if you make $250k, and you sell your house and buy another and pocket, say $10k as a profit, you will owe uncle sugar $380.

Actually, I think the income limits are $125K for married filing separate, $200K for individuals, and $250K for joint-filers. The $250K threshold is the capital gains threshold (and it becomes $500K for joint-filers). If the profit on the sale of the home is greater than capital gains threshold, you'll pay the 3.8% Medicrap tax on the difference.

Point to note: the capital gains threshold in this example is specific to the sale of the owner-occupied primary residence. Sale of second homes or other invest properties would not be covered by the capital gains threshold protection as I understand the bill. The 3.8% Medicrap tax is applicable across the board to a large range of "investments" (including rents, for the landlords among us). But with regards to the sale of your primary residence, I think only a very, very minute percentage of households will "qualify" for having the tax applied to the sale of their primary residence. Most people simply don't make that much AND have a home that has appreciated that much. Particularly in today's market.

This isn't just Employer/Employee payments, either. It's ANY transaction over $600. IE: If I buy $600 worth of pre 1963 silver coinage, that transaction must be reported to the IRS as of Nov 1, 2010. This paperwork must be processed by the business and reported within the specified time frame (I can't recall the specifics).

I've not seen the exact language, but the analyses that I've read have suggested that this also applies to rent payments. Tenants could conceivably have to 1099 their landlords for their total rent payments. Somehow I don't see my 16th and Sherman tenants complying.

 

[irishfan]

Its threads like this that make me remember a discussion I had with a friend of mine about owning different calibers of weapons. He asked me why I was selling my rifle in 7.62x39 if there was a chance some day of being invaded by a country that carried weapons in that caliber. My response to him was that I am more concerned with "my" country being taken from me by a force that exclusively uses 5.56mm and 9mm.

 

[Arthur Dent]

Here's the biggest single threat to liberty that's come along in 20 years. And it's already law.

Obamacare included a provision that all businesses must track and issue 1099s to anyone they pay more than $600 per year. Read the article to see some of the various issues this onerous provision introduces.

The new 1099 rules will drive the IRS into everyone's pocket. Small businesses will go underground or shut down, or be seized for failure to comply. And for what? To catch the first or second guy in the food chain that do business in cash.

This bill will kill small businesses. It will ensure that only large business with the manpower and resources to comply are allowed to conduct commerce. It will limit your choices as a consumer, and cause upward price pressures on all goods. It is bad and must be stopped.

An Ugly Side Effect of New 1099 Law: More Tax Evasion - FoxBusiness.com

Where is it in the bill? What section or page?

 

[Arthur Dent]

Did any of you read about the provision to tax any real estate transactions after 2013 to help pay for bammercare? It is really in the bill. I can not quote you chapter and verse, but it was discussed in Newsmax just yesterday. Our leaders never thing about ways to cut the budget, they just sit on their fat a$$ and think up ways to nickel and dime us to death. Nearly every day something else comes out that is in bammercare that will cost us all a lot of money and this is from a guy that we actually know very little about.

Where is it in the bill?

 

[Arthur Dent]

Here's a link to the bill to help with your searches.

http://docs.house.gov/rules/health/111_ahcaa.pdf

 

[mrjarrell]

Where is it in the bill? What section or page?

Costly IRS Mandate Slipped into Health Bill | Cato @ Liberty

They have a quotation that lists the applicable code.

 

[Arthur Dent]

That appears to have already been in the IRS code. Read the wording in the healthcare bill to see how little was added. It seems to enforce what was already present.

Changes to the tax code happen all the time.

 

[88GT]

That appears to have already been in the IRS code. Read the wording in the healthcare bill to see how little was added. It seems to enforce what was already present.

Changes to the tax code happen all the time.

So was it already present or did it change? You seem to be arguing one and then justifying the other.

 

[mrjarrell]

Well, according to Cato, Obama sees that the 1099 fiasco needs to be removed, (or likely just tweaked, given the politicians love of taxation). It'll certainly be nice if that provsion, along with all the others, goes away.

Obama Supports Repealing 1099 Rule | Cato @ Liberty