Tuesday, November 23, 2010
Among the various deadweight costs the ruling Democrats have imposed on our struggling economy is a new and massive requirement on businesses to issue Form 1099s to virtually everybody and every company with whom they do business. The costs and managerial attention required to comply are considerable, the benefit is dubious (the hoped-for elimination of some tax evasion in business-to-business transactions), and the threat is considerable (that it is a back door into a value-added tax). Therefore, if you want to make yourself useful call or email your Representative and Senator and, er, petition them to support 1099 repeal. Or, you know, demand loudly, if that's how you roll.
Well said, will do - or try to sound off.
I wish we could write to many and call for the removal of Hillary Clinton as Secretary of State as well.
She is a nightmare...
Remember when she boasted about "smart power" and bragged on Gretta's "On The Record" about how easy it would be to deal with North Korea?
Even after the nutty Dictatorship sank a South Korean Ship, Team Obama did nothing.
Sort of reminds one of Hillary Clinton's first public effort as Secretary of State, on her first trip she announced to the World the Obama Administration was not going to make 'human rights' a priority when visiting China.
That is not "smart" and is "weak", the complete opposite of "power".
Of course we could write to pressure all to remove all of the Obama Team, especially the hapless Eric Holder and the insane Janet Napolitano.
But I tend to think the most important concern for all right now, is those impending TAX INCREASES the Democrats are pushing upon us.
For those of you who are purchasing Titanium Necklaces,we realize that this is one of the most important purchasing decisions you will make.
It's just another way for the IRS to try and determine ways to fine you for not complying.... The penalties on failing to comply are ridiculous..... The W-9, W-8 requirements are equally "taxing" and carry stiff penalties if caught under audit, including possibly requiring the company to pay the withholding tax of a taxpayer if the company fails to collect the documentation stating that the witholding is not required..... ugh.... I am not going to get started.... or am i? Sorry for my babble....
The new expanded 1099 requirements were included in the ObamaCare legislation as a way to game the CBO's scoring thereof to support the bogus claim that ObamaCare would reduce the deficit. Even though they have nothing to do with healthcare, they were presented to the CBO with assumptions that they would improve tax compliance and thus raise more revenue.
So we all have to do a lot of paperwork -- and pay others to do a lot of paperwork -- so Obama can claim a marginal improvement in tax compliance so that he can claim that ObamaCare is a cost saver. Blow me.
TH, I'd love to write my representatives about this, but I live in Maryland and my two senators are Cardin and Mikulski. I'm in the third congressional district, the poster boy for Gerrymandered districts, and my rep. is none other than the "I'm goin' into the family business" son of your bete noir Sarbanes. I don't beat my head against the wall just because it feels so good when I stop.
OT. I recently received an email from Sarbanes the younger implying that I'd emailed him concerning Puerto Rican statehood which I hadn't. Also my wife received a letter from Cardin implying that she'd contacted him regarding the same subject. What gives? Are they trying to make a case for PR statehood and two reliable Democratic Senators and some number of Democratic congrgessmen by faking public interest?