Posted on 11/04/2010 10:46:00 AM PDT by markomalley
Yesterday, in President Obamas press conference he mentioned the possibility of eliminating the health care bills onerous 1099 provision which requires small businesses to submit a 1099 form to the IRS every time they make an expenditure of $600 or more as point of potential comprise with the GOP on health care reform. (Of course, it wasnt that long ago Democrats were protecting the provision from GOP attempts to repeal it, but funny how post-election the President seems a bit more flexible on the matter.)
In any event, soon-to-be-former Speaker of the House Nancy Pelosi just gave an interview to Diane Sawyer at ABC News where they discussed health care reform:
So, I I dont I dont think theyre going to take health care apart. There are certain parts of it that we all may want to review one way or another. Put it up there. But the fundamentals of it, you know, when we have our patients bill of rights about no preexisting conditions, and those provisions, they are they cannot be there unless you have this basic structure of health care reform.
So, when we have this debate piece by piece, I think the American people will see how they like pieces of it, and how they relate to each other. And that some of that you know, a 1099, it was a Senate provision. We didnt like it in the House. The President mentioned it today. Weve already passed on the floor the repeal of 1099 in the House of Representatives. So, you know, there are certain pieces of it that should always be subjected to review.
Um, okay. First, Pelosis flat out wrong about one thing. The 1099 provision was included in the language of the House bill, perhaps Pelosi will get around to reading it one of these days. As for whether the House has passed a repeal of the 1099 provision, I dont know what shes talking about either. Republicans attached a motion to recommit the 1099 provision to H.R. 5893 over the summer. Rather than allow the 1099 provision to be repealed, Democrats pulled the bill. It was brought up again shortly afterward and it failed to garner the two-thirds needed for passage because Democrats used tax increases elsewhere to make up for the money that would be lost.
Pelosi can spin all she wants, but the Presidents concession on the 1099 provision should be seen for what it is a total about face on the issue.
Yep, demonrat promises - shovel ready for application for spreading around the garden.
He who frames the discussion usually wins it. Once we start fixing the bill, we become owners of it. Why fix something you say you want to repeal?
No. I explain it in 37.
EVERYTHING I have read says it is off the topon the Gross sale price & 3 real estate agents say the same thing.
On 3/30/10 the President signed into Law HR 4872 which was an amendment to the Main Healthcare Bill. It was needed to clarify certain provisions in the original bill and to raise more money. Look on page 88 of said Bill where the following obscure language is used:
SEC. 1411. IMPOSITION OF TAX.
3 (a) IN GENERAL.Except as provided in subsection
4 (e)
5 (1) APPLICATION TO INDIVIDUALS.In the
6 case of an individual, there is hereby imposed (in ad
7 dition to any other tax imposed by this subtitle) for
8 each taxable year a tax equal to 3.8 percent of the
9 lesser of
10 (A) net investment income for such tax
11
able year, or
12 (B) the excess (if any) of
13 (i) the modified adjusted gross in
14 come for such taxable year, over
15 (ii) the threshold amount.
In order to understand this you should be familiar with the relevant Sections of the IRS code dealing with Investment income. Also note that this applies not just to the profit on the sale of a house but to all other investment income once the taxpayer meets the threshold amounts. All part of the transparency in Government we were promised.
Thank you for the clarification! I guess I can just focus on the unconstitionality of the entire bill.
I think they just picked up Hillarycare on steroids.
If Republicans (rinos) think for one second that tweaking this monster in negotiations with Bam Bam will cut it with voters, they are insane. If they try to do this, we should just get the hint that the Democrats on the GOP side of the aisle have decided to kill the party and we should act accordingly.
If they diddle with the law, the socialists will spin to the public that Republicans “fixed” it and we will lose our chance to ever repeal it. So the House has to stand firm for full repeal no matter what the rinos in the senate do.
If I remember correctly via the constitution, all bills originate in the house not the senate. If true, the whole thing is unconstitutional.....on its face..Since the bill includes government spending..
Ya know...they can either repeal the damn thing...or perhaps We the People will need to come down to DC to do so ourselves .....
selfo pingo
Although I am the reigning Chair
I've never read ObamaCare
It's not been read as of today
But that won't get into my way
Leni
Thank you for all that info...interesting....GG
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