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Washington's Idea of Fiscal Restraint

Cold Highway

Dispenser of Negativity
DP Veteran
Joined
May 30, 2007
Messages
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Location
Newburgh, New York and World 8: Dark Land
Gender
Male
Political Leaning
Libertarian
One such disaster-waiting-to-happen is one of the revenue generating provisions used to claim that the healthcare reform bill was "paid for". $17 billion in additional tax revenues is supposed to come from an onerous new IRS reporting requirement that any taxpayer with business income who spends over $600 in one year with one business will have to report those expenditures to the IRS. Mind you, this is a cumulative total of $600 in transactions in one year. This will involve so much extra accounting and paperwork that the IRS claims it will be unable to deal with it effectively, and even the American Institute of Certified Public Accountants (to whom it should be a boon) has come out against it! Apparently they realize they will actually lose customers, especially small businesses, to bankruptcy because of this!
Sanity escapes the cesspool that is Washington DC

Campaign For Liberty — Washington's Idea of Fiscal Restraint   | by Ron Paul
 
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