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Thread: Health care law's massive, hidden tax change

  1. #51
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    Re: Health care law's massive, hidden tax change

    Quote Originally Posted by Redress View Post
    A 1099 tracks income, it does not charge a tax, or figure taxes due.
    Isn't income taxed? I received 1099s (I did some independent contracting work in the US) and I was most certainly taxed on the income...
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    Re: Health care law's massive, hidden tax change

    Quote Originally Posted by ludahai View Post
    Does this mean it will result in double taxation? After all, such sales will already be taxed as part of the profit of the corporation. If 1099s are also taxed, won't that result in double taxation?

    i.e. -- Xerox sells a copier and the amount of that sale ends up on their bottom line, affecting their profit.

    That copier is sold to a small business that now has to issue a 1099 to Xerox for that sale. Won't that mean the "income" from the 1099 will also be taxed, resulting in Xerox being taxed TWICE for the sale of said copier?

    Or, is there something in this I am clearly missing?
    See post 47 above

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    Re: Health care law's massive, hidden tax change

    Quote Originally Posted by ludahai View Post
    Isn't income taxed? I received 1099s (I did some independent contracting work in the US) and I was most certainly taxed on the income...
    Quote:
    Originally Posted by Redress
    A 1099 tracks income, it does not charge a tax, or figure taxes due.



    A 1099 is a reporting form, it tells the IRS that money has been paid. Not that any tax is due, just that money has changed hands. At present 1099s are used for individuals, not corporations. The new law changes that.

    An individual generally pays tax on the amount shown on a 1099 as income.
    If you then apply the same principle to corporations, they will show the amount as supplies or subcontracting costs. Then what is left over is profit, which can be taxed. So there is no point to 1099ing a corp. because the amount is not representative of the income generated.

    Why they now want to do this remains to be seen.

    Can you see a VAT coming?

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    Re: Health care law's massive, hidden tax change

    Quote Originally Posted by ludahai View Post
    No one knew what was in this bill when it was passed because:

    1. It was not made available to the public before passage nor was it posted to the White House website before it was signed (contrary to one of President Barack Hussein Obama, Jr.'s promises)

    2. The passed law is about as long as War and Peace and is taking a long time for any normal person to parce through the pages upon pages of Congressionalese...
    That still doesn't explain why people would argue for or against the bill if they didn't know what was in it.

  5. #55
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    Re: Health care law's massive, hidden tax change

    Quote Originally Posted by pro-bipartisan View Post
    That still doesn't explain why people would argue for or against the bill if they didn't know what was in it.
    I would ALWAYS argue against a bill that the people voting on it didn't even know what was in it... Would YOU vote for something if you didn't know what was in it? I know I wouldn't.

    In fact, when I was in the Student Senate was back when I was University, I threatened to filibuster (with some allies) the student budget unless the committee referred the details of that budget to the full student senate before voting -- a change from previous procedures where only the fee was disclosed before voting. We got our way, saw the entire budget, and voted on it. As far as I know, it has been done this way since.

    Why would ANY legislator in ANY legislature from student legislators to the US Congress vote for ANYTHING they didn't know was in the bill/proposal/budget they were voting on?
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  6. #56
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    Re: Health care law's massive, hidden tax change

    because our gerry mandered system means that few of them actually have an incentive to govern well; as opposed to merely ideologically.

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    Re: Health care law's massive, hidden tax change

    Quote Originally Posted by cpwill View Post
    because our gerry mandered system means that few of them actually have an incentive to govern well; as opposed to merely ideologically.
    Our system has resulted in almost 50% of Americans paying little or no Federal income tax. Thus almost 50% of Americans have incur no consequences over whatever taxes are imposed on the other 50%, and no reason to oppose increases on those 50%, most especially if it means they will continue to pay little or no Federal income tax.

    However, the new changes in reporting etc., and other kinds of taxes that are scheduled to be imposed may affect them and then maybe we'll have that bottom 50% taking another look at this stuff.

    Right now, as long as it pays them to support the current leadership, they will have little incentive to do anything else and they don't care what is in any legislation being passed.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

  8. #58
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    Re: Health care law's massive, hidden tax change

    Hi there Redress, thought I'd repost the following in hope of an answer:

    Originally Posted by Redress View Post
    Many righties have an exaggerated rhetoric problem which makes it impossible to have a reasoned conversation with them. They also have a problem with rational thought, thinking any one who disagrees with them is somehow out to hurt America.
    One word: Liberty.

    You want to take it away.
    That hurts everyone over the long haul.
    We want to stop the damage.

    For a little rational thought from you now:
    Tell me, what other grand socialist schemes do you want to inflict upon us and when is the end of your escapades?

    .
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

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    Re: Health care law's massive, hidden tax change

    we know what's in the bill

    thanks to the lady, wapo, politico, the hill, ap, cnn, msnbc, bloomberg...

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    Re: Health care law's massive, hidden tax change

    I have also heard about that.Well I have not so much idea about that.United Capital Hill, not to mention health care reform, but as part of this major project, the Democrats are quietly shaping the tax system.

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