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09/13/2010 04:18 AM ID: 85411 Permalink   

Repeal Tax-Reporting Mandate in Health Care Law

 

There is strong support for a repeal of a tax on business hidden deep in the health care law. Obama is trying to curb the appeal. The new law which has nothing to do with health care would require companies that make purchases over $600 to file a 1099

It would cost billions and not worth the price of exposing tax cheats. This provision will slam small and large business alike. There is a gaining support from the Democrats, but Johanns thinks they may be impeded by the president.

He feels Obama needs to "get away from this populous rhetoric, stop the spending and focus on encouraging the business to hire workers and stop the "endless regulations."

 
  Source: www.foxnews.com  
    WebReporter: hellblazer Show Calling Card      
  Recommendation:  
ASSESS this news: BLOCK this news. Reason:
   
  21 Comments
  
  The Second Paragraph  
 
Is mostly opinion. Also, it isn´t a new tax, it´s attempting to get people to report their taxes that already are in place, so those people who hide billions of dollars in corporations overseas can stop dodging U.S. tax law.

I also like how no mention was made of this, though it is in the source:

"Every objective observer has said that this will save a trillion dollars over the course of the next couple of decades or more in budget deficits and that´s an important part of it. We have to think long as well as short," he said.

[ edited by Kolman ]
 
  by: Kolman   09/13/2010 04:48 AM     
  @Kolman  
 
It is a TAX REPORTING Mandate in a health care bill when it has nothing to do with health care. Somehow you´re missing the point. And if the source wants to use opinions then you feel free to write them. I think my summary of what was said is fine.
IMO this mandate should not have been there and further more if it should have been why hide it so deep into the bill no one read in hopes no one blew the whistle on it.
 
  by: hellblazer     09/13/2010 06:44 AM     
  The Source is Fox News  
 
Enough said about opinions, you know going in it´s anti everything that´s not Republican.
 
  by: Jim8   09/13/2010 06:52 AM     
  @hellblazer  
 
If you understand it is a tax-reporting mandate, while did you call it a "tax on business"?

I´m not missing the point, if you think this is the first bill with some extra crap thrown in it I´d be astonished, and it isn´t completely unrelated to health care considering in order for a universal health care system to be put in place (which is what we´re inching to and will eventually have), having people paying their actual fair share of taxes will be required. No more capability of dodging your responsibility just because you´re rich enough to put your money in some overseas banks.
 
  by: Kolman   09/13/2010 04:33 PM     
  @kolman  
 
Quote:If you understand it is a tax-reporting mandate, while did you call it a "tax on business"?
 
  by: hellblazer     09/13/2010 07:00 PM     
  @kolman  
 
Quote:If you understand it is a tax-reporting mandate, while did you call it a "tax on business"?

I didn´t call it anything I just gave a summary of what was reported. It wasn´t my job to correct anything.
Though my person opinion it shouldn´t be in there. Has nothing to do with health care. As you stated falsly about not being rich enough, do you realize those who are not paying their fare share is the poor and middle class?They need to step up because the Rich
pay the most. Just to enlighten you as it seems you may be a little confused on who pays what taxes. Please read below.
A Quote from http://www.american.com/... "The latest data show that a big portion of the federal income tax burden is shoul­dered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per­cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare"

What can I say, I am not rich and I think I pay enough already.
 
  by: hellblazer     09/13/2010 07:11 PM     
  @jim8  
 
QUOTE:Enough said about opinions, you know going in it´s anti everything that´s not Republican.

I am glad to see Fox did a report on this and for the life of me I can´t see why you wouldn´t be either. If this is in there, I wonder what else is? But wait! how do you explain this?? http://money.cnn.com/...
Should I discredit this because CNN put it out?
You discredit this article because Fox reported on it while the left wing is just as bad? Disregarding it because it came from Fox is a lame excuse and a good show of ignorance for not taking it for face value. There is a tax reporting mandate for companies who purchase anything over 600.00 dollars in a health care bill. It will cost millions in tax papers alone. Can you explain to me why that would be in a health care bill? Instead of bad mouthing Fox, how about you justify the reason. I can´t wait to read your explanation.

[ edited by hellblazer ]
 
  by: hellblazer     09/13/2010 07:21 PM     
  @Hellblazer  
 
If you´re earning USD1Million per year, you can live quite well even if you were in a 50% tax bracket (500,000 is hardly putting you in the poor house), but if are making 30,000/year, even a 30% tax on you is putting a serious dent in your income.

This isn´t really about a singular citizen´s taxes, either, it is about business income, for instance, attempting to stop this:
http://www.washingtonpost.com/...
"In 2005, about 28 percent of large corporations paid no taxes. Of the 1.3 million corporations included in the study, 998 were categorized as "large.""
These are very large corporations that are hiding all or most of their profits overseas and contributing absolutely zero to our government´s finances while simultaneously reaping the benefits the government gives them.

As for it ´not being your job to correct the source´, well, I have and many other users have had stories completely blocked for reporting something a source had stated as fact. I even had one blocked from Foxnews.com for that reason. It wasn´t a person attack on you, it was a statement that the specific words formulated in your summary formed an opinion and, objectively, had little factual basis, specifically "not worth the price of exposing tax cheats."
 
  by: Kolman   09/14/2010 12:54 AM     
  Also  
 
http://www.uspirg.org/...

^This place is a pretty good read. :)

By the way, this is a debate about taxes and whatnot, where are the usual suspects? lol
 
  by: Kolman   09/14/2010 12:57 AM     
  ...source  
 
The source is fox news. Enough said.
 
  by: nicpre     09/14/2010 01:33 AM     
  @ Kolman  
 
Agreed 1 million even at 50 percent is nothing to sneeze at. Sometimes people are born with the silver spoon in hand. I missed that boat. I think if our government or any government for that matter, would handle tax dollars appropriately, taxes across the board would be lower. Under law the federal tax should only be paid by Corporations. There has not been a law produced yet that shows where the worker has to pay at all. That was a good article from the Washington post. Good read and really sad when you think about it. Like you said its not about individual taxes and I apologize that it turned into a debate about them. But it isn?t about Corps paying taxes either it is about a tax reporting mandate hidden in a health care bill. That is what we should be debating. Personally I can not justify the fact it is in there , no matter how I look at it. BTW the second read was also good. And believe me without a doubt I can understand and agree 100% wth what your saying. None the less the fact remains, it has nothing to do with the mandate being in the health care bill. If that is in there what else is there along with it? I guess good ole Nancy P was right, "we have to vote it in to see whats in it! *L*

I have no idea where the usual suspects are. Seems SN is going by the wayside.

[ edited by hellblazer ]
 
  by: hellblazer     09/14/2010 06:46 AM     
  @nicpre  
 
Quote:The source is fox news. Enough said.

Why thank you for that enlightening post. It was nothing less then Phucking Brilliant!

[ edited by hellblazer ]
 
  by: hellblazer     09/14/2010 06:49 AM     
  @kolman  
 
Damn I went to post this link. Hit the edit button.. Hit save and never placed the link. Age thing I think..
Anyway you said "formed an opinion and, objectively, had little factual basis, specifically "not worth the price of exposing tax cheats."

If you read the article below and figure the load it will put on the IRS to process these 1099´s it will cost more in pay role then it will be in tax collections. In New Jersey we had a homestead rebate. It cost the government more to send the rebates out then the rebates themselves. Go figure.
http://money.cnn.com/...
 
  by: hellblazer     09/14/2010 06:59 AM     
  @kolman  
 
It´s an added overhead to business. Instead of my finance employees doing what they were hired to do, they now have to report for every software license, every server, every PC, every cubicle, and everything else that I purchase that costs $600+. Its just more paperwork and additional burdens on businesses. The ends don´t justify the means, especially when my finance department files for itemized deductions on every applicable purchase each year. It´s redundant and unnecessary. If you owned a small or mid sized company, you´d understand the additional resources required to accommodate this ridiculous requirement.
 
  by: carnold     09/14/2010 07:05 AM     
  @HB/carnold  
 
Thanks for the info, I had no idea. I agree it should not be in the bill, and it does not require a rocket scientist to figure out why it is buried in a health care bill. To hide it hoping no one would find it until it was to late.
Though they say it is to capture unreported income and that will generate more government revenue to help offset the cost of the health bill. In short, I am relieved to know there are Senators and Reporters out there that are staying on top of the ball.

@Carnold, This is a burden and a half, I don´t know about you but I don´t have an in house accounting staff to take care of this. The paper work will be in sane. This is suppose to start in 2012? I wonder when they were going to tell us?
 
  by: Hotwired   09/14/2010 07:58 AM     
  @hellblazer  
 
additional little items are tacked onto bills all the time even if it has nothing to do with the bill itself.

hell even the names of the bills are constructed in a way in order to make senators vote yes for them, remember the patriot act?
 
  by: KMKHeathen   09/14/2010 09:17 AM     
  @hellblazer  
 
>>Disregarding it because it came from Fox is a lame excuse and a good show of ignorance for not taking it for face value. I heard Tony Blankly, the conservative talk show regular, say yesterday that Fox News was started to rile up the base, but they have become where most conservatives go to hear the news.

He went on to say that the problem is when they come to believe the press releases.

So even he publicly acknowledges Fox News is nothing more than a right wing rumor mill.

I was amazed to hear him say this, but I doubt there is any disagreement above the ignorant masses.

If it weren´t verbal I´d certainly post a link.

[ edited by Jim8 ]
 
  by: Jim8   09/14/2010 06:21 PM     
  @jim8  
 
Quote:So even he publicly acknowledges Fox News is nothing more than a right wing rumor mill.

Again I stand by my words. You show a lack of ignorance because it was from Fox. You assumed it was a rumor instead of looking into it. I already posted the link below but somehow you got around mentioning it. So how do you explain it? Rumor site also I suppose.

http://money.cnn.com/...


And if it is a rumor how do you explain the link below.
http://www.modernhealthcare.com/...

As I said in the last post, Can´t wait to hear your explanation. All you manage to do is run circles, try answering the questions this time. They are simple and direct.

[ edited by hellblazer ]
 
  by: hellblazer     09/15/2010 04:47 AM     
  @KMKHeathen  
 
Quote:additional little items are tacked onto bills all the time even if it has nothing to do with the bill itself.

That is absolutely true, so does that make it right? When do we draw the line and say enough is enough?
Don´t you think it is time Americans stand up and make it stop. Haven´t you figured out we are not governed by the majority but we are being ruled by the minority? I am not a do nothing person who finds it easier to sit back and bitch and type on my keyboard. I write to my Congressman and Senators and maybe if everybody did the same and we all stop excepting crap like this we can make the change. Even though I agree with your point it is really a shame you don´t get mine.
 
  by: hellblazer     09/15/2010 04:54 AM     
  @hellblazer  
 
>>>You show a lack of ignorance

Well, thank you for the compliment!
 
  by: Jim8   09/16/2010 12:20 AM     
  It´s a HUGE burden  
 
I wish folks would actually READ the law before commenting.

It places a huge paperwork burden on every business...whether they buy or sell.

When the law was ´analyzed´ it stated that it would bring in $X. However, a close examination shows a good portion of that law will be from fines on businesses that fail to file or file incorrectly.

It is confusing and unwieldy. The House did try to repeal it and that failed.

Ask yourself if that law was so damn good why was it snuck into and buried within the health care bill where it wouldn´t be noticed until too late? Or, in the alternative, who would vote against the bill because that provision was snuck into it?

We need some sort of law/const. amendment that mandates all legislation be single subject. No more crap like this or others such as an on-line gambling bill be attached to a homeland security bill.




 
  by: Talesman12   09/23/2010 08:58 PM     
 
 
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