From The Collins Report and Floyd Reports (Impeach Obama Campaign):
July 22, 2010, 6:59 am By Kevin “Coach” Collins
In order to finance Obama’s Ponzi – like healthcare scheme, small businesses will be required to “issue” 1099s to vendors like Staples, Home Depot and Pet Smart if they purchase more than $600 in goods from these firms.
In other words if a dog walker in the upper West Side of Manhattan buys $610.00 worth of “doggie treats” to make her day a bit easier, SHE will have to issue Pet Smart a 1099 at the end of the calendar year.
It’s not all bad news….
While the choking tentacles of Obamacare are destroying the rest of America, a recent interpretation of the monstrous document shows its demands for an overwhelming amount of paperwork have the potential to bring the IRS to a grinding halt.
In 2012 Obama’s scheme will require businesses of all sizes, tax exempt organizations AND governmental agencies to file a 1009 when they purchase over $600.00 worth of goods from a vendor. In its best Big Brother-speak the scheme dictates, “If a self-employed individual makes numerous small purchases from an office supply store during a calendar year that total at least $600, the individual must issue a Form 1099 to the vendor and the IRS showing the exact amount of total purchases.”
This requirement will be especially “crippling” to small businesses according to The National Federation of Independent Businesses and will mean serious trouble for the IRS itself in the view of the Taxpayer Advocate (TA), an independent IRS sub agency designed to assist taxpayers.
IRS observers are saying the regulations will “trigger a paperwork avalanche at the IRS” which the Service is simply not equipped to handle. The head of the advocacy group said, “If the IRS continues to ramp up enforcement while reducing taxpayer service programs, I would be concerned about its ability to administer the new health care credits and penalty taxes in a fair and compassionate way.”
Half of the time it will be a good thing
A TA representative predicts these new rules “could exacerbate under assessment of penalties in some cases and over assessment of penalties in others. It is highly likely that the IRS will improperly assess penalties.”
While the intelligent solution to this impending disaster is of course to strike that regulation, if not the entire bill, we can bet the government will merely hire more IRS workers.
Obama: once again bitten by the law of unintended consequences
This 1099 requirement was most likely inserted by one of Obamacare’s many writers who have no experience in or understanding of business or how it works. It seems a good bet that the provision was designed to “punish” those would try under reporting their financial activities. Now these jerks in Washington have tied their tail’s in a knot and they are about to fall flat on their faces. This should be fun to watch.
Pledge your support to America. Stand and fight now or there will be no chance to do so ever again in our lifetimes.
Our enemies are motivated by fear of freedom. Our faith in the greatness and exceptionalism of America is the powerful weapon we have to turn back the enemies we face.
The stakes are as high as they can be. We are fighting a very determined enemy. We must not lose, we can’t lose, because all of our “eggs” are in this basket.
Pray for America.
What have you done lately to defend our country?
OBAMA’S TAXES ARE COMING
In January the taxes we warned Obama would shove down our throats are coming. They will be killers to all middle class American families. Go to the tool bar at the top of the Collins Report and read about them.
Use this site to contact your Congressional Representative. https://writerep.house.gov/writerep/welcome.shtml
Knowledge is power.
Learn the truth so you can teach our children the truth. To read more about this story, go to this Collins Report source:
http://blog.heritage.org/2010/07/13/side-effects-irs-and-businesses-unite-against-obamacare/?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell
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