Hold on there, Baba Louie. It seems Obama has discovered a way to help pay for his healthcare reform boondoggle and better yet, it is already law! Remember when the lawmakers said that none had read the bill but they just new it was a great thing? Here's a headline from ABC, one of Obama's "waterboy" networks: Gold Coin Sellers Angered by New Tax Law Amendment Slipped Into Health Care Legislation Would Track, Tax Coin and Bullion Transactions http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=11211611
It's amazing the liberal crap that gets rammed through in these long statutes. Take the "Financial Reform" bill. Just what does that have to do with minority hiring? Well hidden in the bill is a section requiring the federal financial agency to hire from certain colleges. http://townhall.com/columnists/TerryJeffrey/2010/07/21/how_financial_reform_discriminates_--_unless_your_daughter_goes_to_wellesley There were similar minority set aside provisions in the health care bill that the house passed. Like everything else this administration does, it hides as much as it can from the public. (remember the Obama "transparency" promise?) A couple of weeks ago, Obama appointed the new head of Medicare while Congress was in recess. The reason was fairly obvious, the guy is a complete wealth distribution socialist and the White House didn't want any confirmation hearings. And while were at these hidden thefts, here's my favorite. Maybe some of you have seen these commercials on TV where folks get "free" cell phones so that they can "call my family any time any where." Well they're really not free. Look at your cell phone bill closely and you'll find Fed. Universal Service fee. Yes sir, new to the basic rights along with low income housing, food stamps and now free health care is 200 free minutes ever month on your free cell phone.
I'm not sure what new ground the 1099's in the Gold business plows. I get a 1099 from every insurance company with whom I do business. The rules for issuing 1099's have been around for a long time, my software "QuickBooks" tracks them and will print them out just like it does my w-2's, 941's, 940's and my Texas Employment Commssion forms (unemloyment insurance that I can't collect just like Gipper!). So I'm not sure why that particular business has been exempt.