There is nothing that is going to go undocumented. We are going to be paying big time for lots of our perceived conveniences.
This is going to be a major problem, reconsolidaing all those 1099s. What happens to a company when the 1099s returned show dollars greater then the company's revenue? How will a company figure out who filed incorrect 1099s? The 1099s covered by the company's internal credit will be easy to match up, but credit cards and cash sales are going to be a nightmare. This new law will increase the cost of doing business which will be passed along to the consumer.
I think we should have a Truth in Taxing Law. All purchases should break out on separate lines each and every tax on the supplier of the goods. That would now include the new Obamacare Tax. The purchaser could see the true cost of all the taxes paid. Like my phone service bill, where the taxes and other required government fees exceed the cost of the basic phone service.