Ping for later
I’ve got to pee real bad but the department of urination enforcement hasn’t sent the forms back to me so I can fill them out in triplicate and allow 4 to 6 weeks for processing.
The U.S, Government has a particularly sordid record with regard to private ownership of gold - right down there with the worst socialist regimes!
Alla FDR? Funny, socialists hate all forms of portable and non-reportable wealth. All your money belongs to us.
Six hundred bucks?
What’s the average apartment rent these days?
Man, what a cluster-fudge!!
I guess this law doesn’t affect illegal aliens. Just make up a SSN and tell them your name is Gomez. What are they gonna do, charge you out of state tuition or something?
This is the answer to all the people who yap about confiscation. The government doesn’t want your gold, just your life.
Ping
“We have to pass the Health Care Bill to see what is in it”
Merry Christmas in July!
Optimists buy gold. Pessimists buy brass and lead.
$1.7B per year in new taxes to the government is what they expect. At what cost in extra time and accounting to the taxpayers? According to the Obama, who gives a 'rats ass.
Buy bullion, not coins.
Bullion has less markup, and you can buy it by the gram if you like.
Next you’ll start seeing “$500 Yard Sales”. The sale lasts until they’ve sold $500 dollars worth of stuff.
So...
I earn $1200.
The government takes half that.
Leaving me with $600.
I buy some gold for $600.
It goes up, it goes down.
I sell the gold for $600.
I submit my 1099s form.
The government takes half that.
Leaving me with $300.
The government got $900 out of the deal.
WTF?
What other hidden and little noticed provisions are in the “healthcare” law? How many things are in there that the democrats knew about but “didn’t read?”
This is change without the hope.
Great. The government collects $1.7B a year in extra tax revenue by imposing compliance costs vastly in excess of this. There’s 6 million firms in the U.S. http://www.sba.gov/advo/research/data_uspdf.xls
Pretend each one only has 2 $600 transactions per month for which a 1099 has to be filed. That’s 144M forms. Now assume that between filing forms and IRS processing them it costs $10 per form. That’s $1.4B. If the average is 4 forms per month (1 per week), it’s $2.8B etc. I don’t know the true average, but have heard estimates that the total annual number of forms nationwide will be in the billions.
This is another classic case of Mickey Mouse accounting in the health reform bill. Health reform gets credited with $1.7B in savings, but all the compliance costs imposed on taxpayers and IRS are “hidden costs” not accounted for. From a social point of view, this new rule clearly is cost-ineffective, but Congress dumped it in the bill in its desperation to make it appear as if the true cost of the bill would be below $1T.
Quick route to a thugocracy:
(1) Criminalize common acts
(2) Make compliance infeasible
(3) Arrest whomever you want based on political reasons.
See also fascism, national socialism, marxism, and all other forms of totalitarianism.