Wednesday, July 14, 2010

Obamacare brings more red tape to all of us

Hidden in the 5000 page Obamacare bill is a requirement for every business in the land to report all purchases over $600 a year to the IRS. In this day and age damn near everything costs $600 over the course of a year. So, the IRS will be able to track nearly every dollar spent thruout the economy. And be able to audit income tax returns in greater detail. Lots of small providers work for cash and don't keep much in the way of records. They will be toast.
Those that attempt to stay in business will be swamped with extra paperwork. It's bad enough paying the bills. Having to report every bill paid to the IRS will make it a lot worse.
The unions loved this one. All those pesky non union small operators who have been taking bread from the mouths of good union workers will get chopped off at the ankles.
There ought to be a law against 5000 page bills.

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