I cannot believe how much liberals love new taxes! They put them in everywhre they can. What the hell does a tax on gold have to do with health care? I am starting to think it is a genetic defect in those Liberals. Kind of like alcoholism. Or it is like a meth addict. Once they got a taste of it under Obama, they can't stop finding more things to tax. They have to be stopped and voted out of office quick!!
So every time a member of the public sells more than $600 worth of gold to a dealer, Piret said, the transaction will have to be reported to the government by the buyer.
Pat Heller, who owns Liberty Coin Service in Lansing, Mich., deals with around 1,000 customers every week. Many are individuals looking to protect wealth in an uncertain economy, he said, while others are dealers like him.
With spot market prices for gold at nearly $1,200 an ounce, Heller estimates that he'll be filling out between 10,000 and 20,000 tax forms per year after the new law takes effect.
"I'll have to hire two full-time people just to track all this stuff, which cuts into my profitability," he said.
An issue that combines gold coins, the Obama health care law and the IRS is bound to stir passions. Indeed, trading in gold coins and bars has surged since the financial crisis unfolded and Obama took office, metal dealers said.
The Viking wrote: OK, so this is strange. I can open anything on my computer but all of the stories to this gold tax won't open now. And I have tried 4 of them.
Liberal internet police have stifled you once again!
So this administration is taking on and hurting Wall Street, and they are now putting a tax on Gold to control that because people are taking money out of government controlled investments and buying gold. They are kind of herding everyone back to the banks for investments. Good thing they don't have any interest in those.......uh oh....... It's all making sense now. :VeryScared:
Many more 1099s for a lot of small business transactions. IRS wants more documentation. Some articles say that they will be overloaded with data from this.
I also read they are cracking down on Independent Contractors, or the companies that use them. Unfortunately for me, as that's what I do, or used to do.
It was all about making the CBO numbers look good for the healthcare bill, whether the revenues actually materialize is anyones guess. Sure doesn't sound like policies friendly to growing small businesses. Good for accountants needing work though.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
