While we all wait to see how the Health Care Reform Act will affect us some interesting tidbits are sneaking out. One such tidbit has nothing to do with health care reform (big surprise). According to The Wall Street Journal, "the law also requires all businesses to issue IRS 1099 forms to document every business-to-business transaction of $600 or more. To someone who's never run a business, this may sound like nothing. But Congress hopes to raise $17 billion in added tax revenues and fees from this new mandate. That's hardly nothing." Can someone tell me how this improves our health care? This is huge! Filling out a 1099 form every time we purchase stuff to sell at the nursery.Â As the article states, if you don't own a small business it may seem like a small deal, but virtually every time we purchase something for resale it comes to more than $600. Good grief! Running a small business is difficult enough without having to fill out a government form every time we buy something for resale.
This is another example of our present government at work.Â Work on health care reform, but while we are at it let's screw all the hardworking small businesses that account for so much of our economy. As if it wasn't hard enough to make a profit lets add a layer of government over site to the equation. Lets make the day just a little longer filling out government forms so we can really go home tired at the end of the day. Of course we will need to hire a few thousand extra IRS agents to wade through this tsunami of paper work. More government!
This is what happens when the people who wrote the law can't even tell us what's in it. We get the pleasure of seeing bits of it float to the surface from time to time. If as a small business owner you wondered how this health care bill would affect you, we are starting to find out. It's not pretty.