Nightmarish new 1099 law hidden in health care bill

[Stok]

Quote from 377OHMS:

Greece has a huge underground economy that does not collect VAT. Very few pay the VAT there.

The VAT is coming to USA.....European style. We will have a huge underground as well.

Point is, 1.) Greece is 2% GDP of the EU...but it has caused a ruckus. Why? Because the PIGS are next and 2.) The USA is next.....albeit 10-20 years down the road.

USA, nor the EU nor the UK will ever be able to pay off the guberment debts. EVER. Simple math.

So, I assume one day of reckoning, the world will hit the reset button and wipe out the debt. BUT, who do we owe? WHO DOES THE WORLD OWE?

China. Japan (who is in a ton of debt themselves), our guberment (USA holds #2 in our debt).

So, we will say...sorry charlie, "your not getting paid". Then we will say "we have more nukes than you and have a combined army that will wipe u out."

That is the end game. W.O.P.R. said the same thing. There are no winners. Unless, we can get our House in order NOW.

 

[Mercor]

All this reporting will be done electronically. The 1099 will automatically sent with the credit card transaction.

Once the Government does away with cash every transaction will be tractable. No chance for a black market

 

[PocketChange]

Stok,

I have no agenda.
Filing E-1099's is not massive paperwork.
Collecting and filing Weekly Sales tax reports by zip code as required today is 52x as much work with substantial penalties.

Quote from Stok:

PC,

I see now you have an agenda against BP or COP and all the small companies that are trying to make it....They are taxed, obamacare tax and now this shit.

You support this massive paperwork and reporting to the guberment? Do you have any experience in PLM or the business? Do you understand tax credit's? Do you understand that the the world runs on petro (for now) and the world and guberment wants to exploit as much as possible to meet our needs?

To claim that BP revenues are 10% of the tax receipt of the "public" is insane. That shows you have no idea either on tax receipts or accounting.

You are a typical liberal dem who wants full control of peep's lives and wants to tell them what to do.

If they even try a VAT tax, it's all over. Dem's are toast...look at Greece.