more healthcare law.

#6
#6
I saw a report that said, among other nasty items, beginning in 2013 real property sales will be subject to a 3.8% federal sales tax. I have not verified this report. Look at what that would mean for the sale of your house!

Just found clarification. Applies to amounts over home sales capital gains amounts. Profits over $250,000 for individuals and $500,000 for couples.
 
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#7
#7
can't imagine even congress woudl be that stupid. they are also talking about removing hte mortgage deduction which would most certainly destroy the american economy.
 
#8
#8
Other than the reporting requirement will be a headache, I don't see the big deal with this legislation. The gain on gold sales (as with any precious metal) is already a taxable event that many people don't report on their taxes. I'm probably more for this section of the bill than against it.

I have a major problem with people who don't pay taxes that they legally owe and lie because they don't think it is fair, I don't care from which side of the aisle you are on.

And I don't see them ever removing the mortgage deduction as an itemized deduction. Maybe capping it lower or not making second mortgages deductible, but never removing it.
 
#9
#9
droski said:
not 100% relavant, but these gold coin dealers are clearly scam artists.
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They're pikers compared to Obama and company!

The bill also proveds for about 20,000 new IRS agents according to what I'm hearing.

You may be singing a different tune when they ram that incomeoscope up your little butt.

What does health care and coin dealing have in common??

Barrack Hussein Obama.
 
#10
#10
And lets not just talk about Gold here... this will cripple small business because now they have send a 1099 to any vendor they purchase more than 600 bucks of stuff from AND the Gov't. This is insane. That's my beef with this.
 
#11
#11
OrangeYankee said:
And lets not just talk about Gold here... this will cripple small business because now they have send a 1099 to any vendor they purchase more than 600 bucks of stuff from AND the Gov't. This is insane. That's my beef with this.
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I honestly think this is going to change by the time all is said and done. Just my opinion.

I would not be surprised in the least if they put some type of revenue caps in place for who has to report and who doesn't.
Posted via VolNation Mobile
 
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#12
#12
... I'm sorry not trying to use hyperbole but no matter who was behind creating this I just don't have faith in congress ever repealing itself... They just don't get it. At all. None of them do.
 
#13
#13
OrangeYankee said:
... I'm sorry not trying to use hyperbole but no matter who was behind creating this I just don't have faith in congress ever repealing itself... They just don't get it. At all. None of them do.
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Well, typically in situations like this there is written in that the IRS can make some final determinations in the official practice of the law. Please note I've not read the actual law. As of now the IRS, AICPA, and every professional business group out there is against it and as the last I had read (been a couple of weeks) the official rules were uncertain as to how they would be applied. I've been off a lot and not following stuff closely, so it could have changed and I missed it.
 
#14
#14
tigervol9802 said:
Well, typically in situations like this there is written in that the IRS can make some final determinations in the official practice of the law. Please note I've not read the actual law. As of now the IRS, AICPA, and every professional business group out there is against it and as the last I had read (been a couple of weeks) the official rules were uncertain as to how they would be applied. I've been off a lot and not following stuff closely, so it could have changed and I missed it.
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Further complicating an already overcomplicated internal revenue system is just what we need.

The people at the IRS don't even understand the law, it's been proven that you can call the IRS six times and ask the same question each time and get six different answers from six different people.
 
#16
#16
gsvol said:
Further complicating an already overcomplicated internal revenue system is just what we need.

The people at the IRS don't even understand the law, it's been proven that you can call the IRS six times and ask the same question each time and get six different answers from six different people.
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That's the reason they won't guarantee any answer unless it's in a determination letter.
 
#17
#17
Neal Boortz: ObamaCare has stealth IRS bomb | ajc.com

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Townhall - Floyd and Mary Beth Brown - Obama Commission Will Call for Trillions in Tax Hikes

If they are so greedy as to also try -- by passage of a climate control bill -- increases in energy taxes then this second recession will likely lead to deflation and a collapse into a government-sponsored depression. The economy cannot afford more money being redirected from investments toward government spending.
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charlie-brown-and-football.jpg

"It's been clear from the beginning that the purpose of this Commission was to put GOP fingerprints on a tax hike, likely a VAT... Gregg seems to be giving them all ten fingers... The true agenda of this commission has always been to hide the ball on a tax hike until after the November elections - hence the December reporting date. Gregg's gaffe today tips their hand,"
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