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To: William of Barsoom
It would have been more informative if he had mentioned what the provisions are. Anybody know?

The answer is right here on FR:

http://www.freerepublic.com/focus/f-news/2559542/posts

16 posted on 09/27/2010 5:43:53 PM PDT by upchuck (When excerpting please use the entire 300 words we are allowed. No more one or two sentence posts!)
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To: upchuck; William of Barsoom; kralcmot
The answer is right here on FR:

Yes, gold is one thing the government always goes after when people start buying it, but I think there's confusion, even by the esteemed Dr. Sowell. I think that provision applies to ANY goods, not just gold.

The problem is, the first big splash about it was from a financial newsletter referencing their own specialty: gold coins and bullion. But from what I read in the bill, it's ANY goods.

Note, that section doesn't read clearly--it's mostly "replace ___ with ___" and "add 'goods'" language.

You have to piece together what it does to existing law and it seems to me that it means that certain entities have to track and issue 1099s on goods, not just on independent contractors, etc., if they go over $600.

I am not a lawyer or professional in this subject, and I'd love to hear from one.

22 posted on 09/27/2010 7:51:28 PM PDT by Gondring (Paul Revere would have been flamed as a naysayer troll and told to go back to Boston.)
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