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Gold Coin Sellers Angered by New Tax Law
abcnews.com ^ | 07/21/10 | RICH BLAKE

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 ...


TOPICS: News/Current Events
KEYWORDS: barter; gold; goldbugping; obamacare
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To: Errant

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. >>>>>>>>>

The internet easily replaces TV and newspaper. You might get some over the air TV with a high aerial but you can get radio. Years ago I spent a summer in rural Tennessee. TV reception wasn’t good but I eagerly awaited Prairie Home Companion each week. That show made total sense out in the boondocks.

If you really want to “get it” then don’t eat white rice and white bread. They are slave foods. This is why the Chinese and Koreans complied with the communists


61 posted on 07/21/2010 1:54:05 PM PDT by dennisw (History does not long entrust the care of freedom to the weak or the timid - Gen Eisenhower)
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To: Errant

Awesome. We are on a path similar to yours. And it beats the hell out of the rat race.


62 posted on 07/21/2010 2:12:00 PM PDT by SaxxonWoods (Gone Galt and loving it)
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To: dennisw
If you really want to “get it” then don’t eat white rice and white bread.

I'll stick with fried squirrel, okra, cornbread, purplehull peas, and a fresh tomato! ;)

I've got one of the DLP big screen sets that is only used for movies from my collection, redbox or linked to a PC accessing netflix. You can find a few good movies on Hulu and Youtube is probably my #1 source of videos watched. One of my biggest worries is what are we going to do if they shut down FR.

I would like to encourage everyone who can, to get some kind of solar cell system. No matter how small, a solar cell can power a radio, charge batteries or your cell phone, laptop, provide LED lighting and etc for years. I've got a 3KW grid-tie system that produces more electricity than we consume during the spring and fall months and the state and federal government paid for 80% of it. How's that for unsustainable governance?

IMO, we're collapsing and Obama is speeding up the process. I don't wish this to happen by any means but the faster it does, the faster we can reboot with updates to help prevent this mess from occurring in the future.

63 posted on 07/21/2010 2:21:04 PM PDT by Errant
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To: SaxxonWoods
And it beats the hell out of the rat race.

Doesn't it though! I'm of the opinion that we may wind up not only restoring the republic but adding increased value and enjoyment to our everyday lives in the process.

We need a going Galt/escape the Matrix type association for the purpose of encouraging others, sharing knowledge, tips and ideas. :)

64 posted on 07/21/2010 2:27:52 PM PDT by Errant
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To: DFG

Looks like ammunition is going to be the new currency.


65 posted on 07/21/2010 4:22:07 PM PDT by P8riot (I carry a gun because I can't carry a cop)
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To: super7man

prepared


66 posted on 07/21/2010 4:37:47 PM PDT by P8riot (I carry a gun because I can't carry a cop)
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To: P8riot

Eagle Scout and proud of it.


67 posted on 07/21/2010 4:59:15 PM PDT by super7man
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To: Scythian

So they will just drive these sales offshore.


68 posted on 07/21/2010 5:04:50 PM PDT by Dem Guard (Seldom in history have so few, done so much, to so many, so quickly, against their will!)
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To: Errant

Internet transactions are recorded by the govt... just so you know.


69 posted on 07/21/2010 5:57:32 PM PDT by donmeaker ("Get off my lawn." Clint Eastwood, Green Ford Torino)
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To: super7man

Are you still involved in Scouting? If so, in what capacity?


70 posted on 07/21/2010 7:00:30 PM PDT by P8riot (I carry a gun because I can't carry a cop.....Eagle scout since Sep 9, 1970)
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To: donmeaker
Internet transactions are recorded by the govt... just so you know.

Thanks, and yes I'm aware of that. The reason I advocate Internet purchases is for locating hard to find items that may not be available in your local area. I avoid the big box stores and do my best to support the little guy and small business as much as possible. IMO, large corporations have paid for the best and biggest government that money can buy. In return, government creates laws and regulations that give them advantages that make it difficult or impossible for small businesses to compete.

71 posted on 07/21/2010 7:53:09 PM PDT by Errant
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To: P8riot

Just retired after 3 yrs. as a Cub Den leader and 7 yrs. as an Asst. Scoutmaster.

Watched my son grow into a fine young man. He is an Eagle, too.

Loved, every minute of it.


72 posted on 07/21/2010 10:07:30 PM PDT by super7man
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To: super7man

I’ve got a “late in life” son who is a Bear cub. I’m his Den Leader. I’ve been involved in Scouts on and off since I started in 1964. Gonna stick it out as long as I can (I’m 53).


73 posted on 07/22/2010 3:13:32 AM PDT by P8riot (I carry a gun because I can't carry a cop.....Eagle scout since Sep 9, 1970)
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To: Publius6961
"Where in the Constitution is it written...?"

After the last 18 months of the Obamanation's nationalization of the auto-industry, healthcare, student loans... it's obvious the radicals running Washington don't give a flying f$#@

"... that the Feds can tax the same earnings an indefinite number of times?

The fed does this already. They tax a company's earnings and then they re tax the same earning when they are distributed in stockholder's dividends.

"....folks can only buy gold with after tax money."

That's the point of a "wealth tax." Unlike an "income tax" it does not target earnings - but the wealth accumulated after it was already taxed as income. It's like a federal property tax on all property not just real property. And it has always been a dream of the leftwing radical types that have now taken over Washington. If your agenda is redistribution of wealth that would be your silver bullet.

My question is: will enough Americans see where the radicals are taking us and will they do something about it?

74 posted on 07/22/2010 3:36:07 AM PDT by drpix
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To: super7man

Diversified. Middle of the road. Pessimist in name only. Optimist in name only. Wishywashy.


75 posted on 07/22/2010 4:57:24 AM PDT by donmeaker ("Get off my lawn." Clint Eastwood, Green Ford Torino)
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To: Errant
I'll stick with fried squirrel, okra, cornbread, purplehull peas, and a fresh tomato! ;)

Hope you have fruit trees planted

I would like to encourage everyone who can, to get some kind of solar cell system. No matter how small, a solar cell can power a radio, charge batteries or your cell phone, laptop, provide LED lighting and etc for years. I've got a 3KW grid-tie system that produces more electricity than we consume during the spring and fall months and the state and federal government paid for 80% of it. How's that for unsustainable governance?

Can you post here the figures on your solar system as far as state and federal subsidies? Or freepmail me what the numbers are. Do you have a propane refrigerator? Do you use propane? I once visited a family who had a solar house. They used 12 volt electric to run a TV, lighting and other things. RVs use 12 volts to power things and so do boats

76 posted on 07/22/2010 6:32:32 AM PDT by dennisw (History does not long entrust the care of freedom to the weak or the timid - Gen Eisenhower)
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To: All; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; OneLoyalAmerican; ...

Goldbug ping

Previous articles weren’t clear that this new 1099 requirement was applicable to people selling to the dealers, not people buying from dealers.

Mail me to get on or off the Free Republic Goldbug Ping List.


77 posted on 07/22/2010 7:05:17 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: Oldexpat

Good points. It appears that we don’t require “the mark”, for now, when we buy from a dealer. From that point on, that’s your spending money for a used car, small to medium sized home improvements, &c.


78 posted on 07/22/2010 7:09:24 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: TruthConquers

Yes indeed. At let’s say $20, that’s still only 30 oz, but goldbugs and gold bashers alike say that silver would be the choice for day to day “alternative currency” situations.

Also note that in the meantime, many (including myself) say that silver should appreciate more than gold in the medium to long term from the current gold/silver ratio of about 66:1 to somewhere in the 40:1 range or lower.


79 posted on 07/22/2010 7:14:52 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: ChocChipCookie

Hah, check the keyword “gold”, there have been at least six articles on it in the past two weeks.


80 posted on 07/22/2010 7:16:18 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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