OBAMA CARE: Hidden Tax On Gold
byon 08-10-2010 at 08:07 AM (3757 Views)
Section 9006 of the Patient Protection and Affordable Care Act, OBAMA CARE 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.Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the I.R.S the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Purchase and sales of coins,bullion, and precious metals will fall into this category.
Coin dealers and Liberty Loving Americans will be the ones most affected by this proposed change. I guess this is another attack on freedom and sound money policy by the current administration and the overlords at the Federal Reserve pulling the strings. I guess they find individuals pursuing sound money policy as a threat to their fiat currency scheme. The tax code will also be a way for the government to register gold and silver buyers so if they decide they can steal it later. Would we be surprised if history repeated itself?
FDR passed The Gold Confiscation Executive Order on April 5, 1933: Click Here To Read
a sad day indeed...
There is hope,
Pressure builds on Congress to junk 'nightmare' tax rule
"1099 requirement buried in health-care law riles up small businesses"
Click Here To Read
Gold Tax Hidden In ObamaCare