Now here's healtchare reform I can believe in

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**Frazzled**

http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=11211611

Gold Coin Sellers Angered by New Tax Law
Amendment Slipped Into Health Care Legislation Would Track, Tax Coin and Bullion Transactions

124 comments By RICH BLAKE
July 21, 2010
PrintRSSFont Size: Share:EmailTwitterFacebookMoreFarkTechnoratiGoogleLiveMy SpaceNewsvineRedditDeliciousMixxYahooThose already outraged by the president's health care legislation now have a new bone of contention -- a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.

California authorities investigating Goldline's sales practices.

More PhotosThe issue is rising to the fore just as gold coin dealers are attracting attention over sales tactics.

Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently, 1099 forms are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals.

Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.

This provision, intended to mine what the IRS deems a vast reservoir of uncollected income tax, was included in the health care legislation ostensibly as a way to pay for it. The tax code tweak is expected to raise $17 billion over the next 10 years, according to the Joint Committee on Taxation.

Taking an early and vociferous role in opposing the measure is the precious metal and coin industry, according to Diane Piret, industry affairs director for the Industry Council for Tangible Assets. The ICTA, based in Severna Park, Md., is a trade association representing an estimated 5,000 coin and bullion dealers in the United States.

"Coin dealers not only buy for their inventory from other dealers, but also with great frequency from the public," Piret said. "Most other types of businesses will have a limited number of suppliers from which they buy their goods and products for resale."

**avantgarde**

This is another facist jib promulgated by Buffoon Obama in order to bring about the new dialectic socialist order. It's evident that this is part of a long standing Democrat conspiracy first shilled by the communist mastermind William Jennings Bryan in order to bring down gold trade in a direct attack on our most cherished institution: capitalism. The fact it was attached as a rider to UHC only lends further proof of a sinister and ongoing Stalinist plot.

Also isn't Goldline one of Glenn Beck's biggest sponsors?

**Frazzled**

I was in a vault once the size of a warehouse, because it er was. It was filled with pallets of silver and shelves of gold. PALLETS of silver. Shiny it be. Silver, you are my master...COMMAND ME!!!!