Unfortunately the desire to control all money outlays IMO spans parties and beliefs.
Jim
AND WORSE YET! The 1099 reporting only has to do with business transactions as written, and as it was slipped through as a health measure. Worrying about gun show or flea marker transactions is the least of our future tax problems.
Consider this: Once all businesses gear up to report every $600-plus purchase transaction on a 1099-misc., the bookkeeping template will be in place to reduce the introductory amount of $600 to
dollar one, simply by regulation. Once all purchase/sell transactions are lodged in the federal computers, the stage is set for a Value Added Tax.
VAT is a sales tax levied at every point of sale, from raw materials to manufactured product, through distribution, wholesale, retailer, and consumer; essentially a national sales tax to support Obama-care. No wonder the 1099 trick was buried in the health care law. EDM
