Posted on 07/21/2010 8:25:54 AM PDT by DFG
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.
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.
(Excerpt) Read more at abcnews.go.com ...
Agreed, see tagline.
99+% of the harm will be done to small businesses that have never heard of coins.
Never again will I fall for their propaganda or allow them to take even one second of my remaining time on earth without a fight.
Life and freedom to live it your way is too precious, too short and too wonderful to die a slave.
Couldn’t this make silver more popular as a backlash?
So...guilty until proven innocent?
I think that's carved above the door to the IRS, right below "Abandon all hope ye who enter here".
Re last post...
Seriously, if I hold a garage sale and sell $700 in stuff, I have to file the 1099s form and pay confiscatory taxes unless I can produce receipts for the stuff showing I had a loss? Like I’m going to have receipts for books, camping gear, dishes, etc. I’ve had for a couple decades?
They’re drawing a line in the sand where I cannot avoid stepping over it, but somehow it will be my fault...
I don't know what the exact rules are on garage sales, but if you are making a profit (such as making artsy-craftsy stuff and selling it from more than the cost of goods) then you are supposed to report and pay taxes on the profit. If you are selling off old junk for a loss (like most garage sales) then you don't have to report the income. Sorry, I can't quote the exact tax form and if you get arrested for using my advice, please tell me so I can send you a file in a cake.
Way to go! Not all of us have the ability to do this. I am self-employed, my wife had a reg job. When I saw that Obama was doing what we all feared, I had her retire and I went into semi-retirement. We have cut our taxable income by around 70%. We will not pay much in fed taxes going forward. We were already headed this way, but moved everything forward a few years. Best decision evah.
Sold the city house, moved to the country. The libs can pay for Obama’s utopia.
Wealth tax?
Where in the Constitution is it written that the Feds can tax the same earnings an indefinite number of times?
Far as I can tell, folks can ony buy gold with after tax money."
For the record, I don't own gold.
Wealth tax?
Where in the Constitution is it written that the Feds can tax the same earnings an indefinite number of times?
Far as I can tell, folks can ony buy gold with after tax money."
For the record, I don't own gold.
Hmmm... I have lots of both.
What does that make me?
The office of the National Taxpayer Advocate, a citizen's ombudsman within the IRS, issued a report June 30 that said the new rule "may present significant administrative challenges to taxpayers and the IRS."
What an unmitigated disaster this Kenyan Clown's circus is for our country.
Yeah, but at least had employment for life, three hots and a bench, as short as it was. lol
I can’t believe no one noticed this gold tax before today. The bill has been out there for many weeks now.
It is a peaceful and lawful method of defeating the socialist progressive takeover that may actually work, not that supporting the Tea Party movement or protesting isn't helpful. DIY is a terrific part of this plan. Your labor isn't taxed, the cost you'd pay to have it done isn't taxed and you get a great feeling of accomphisment when it's finished. The tools you purchase become additional resources for your self-sufficeny arsenal and may be used for a future source of income or trade.
Most of my time now is spent around the people I love and care about. We enjoy catching, growing, preparing and preserving foods.
You have to stay in shape and that means biking, long hikes, exercise and so forth.
Not everyone can leave the matrix but everyone can take a step in that direction. For benefit of others, they can begin by dropping pay TV, newspapers, magazines. Buy and store foods in bulk, purchase food processing equipment, start a DIY project (look to youtube for how to vids), cut back on spending, keep some cash at home, start saving more, go enjoy the outdoors through some low cost means (i.e. camping, biking, hiking, canoeing, build a wooden boat) and stop wasting time. Our good days are numbered.
Humph. This all based on compliance. If no one complies it remains invisible.
You have the right idea. Are you on dial up or high speed internet and is that your only vice.
It does not matter. You could not comply with the code if you tried. We are all unconvicted felons and they can hassle us anytime. The code is written to make us confused and easily controlled.
I'd like to drop one but I have a security system that depends on a phone line. I would like to drop the DSL and long distance plan from AT&T that will save about 125 a month and use the aircard @ 65 a month (I will have to get some type of voice over IP for the security system) and keep my cell phones.
I have dropped sat TV, newspaper and my only mags are from the associations that I belong to and no more 1099s to fill out this year.
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