Monday, September 13, 2010

First Problem I've Seen With The Healthcare Bill

It was obvious that the process of creating and passing of the healthcare bill was not something that would be considered one of our leaders' finest moments. Our leaders are convinced that many companies are cheating on their income taxes. So, they added a provision to the healthcare bill requiring businesses to file a 1099 form for each company whom they pay the princely sum of $600 per year. So, if you have a problem with your plumbing system that costs you $600 to fix, you need to list the plumber's name address and tax id on a 1099 and send it to the IRS. Ditto for just about anything else - the phone, office supplies, gas, you name it.

In the 21st century $600 is truly chicken feed. Most businesses have quite a number of vendors to whom they pay $600 a year. To complete a form for each of these vendors is truly a make work project.

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