Punching Stupid and Evil in the Face Since 1986!

"We are on strike, we the men of the mind. We are on strike against self-immolation. We are on strike against the creed of unearned rewards and unrewarded duties."-John Galt

Friday, July 30, 2010

Dems racing to repeal 1099 requirement from healthcare travesty.

Now its a race between Dems and Republicans to repeal a very burdensome and ludicrous requirement of the healthcare sham perpetrated on small business. Somehow, as part of the healthcare bill, there was a requirement for all business to begin reporting on 1099's ALL transactions conducted with ANY business, in excess of $600. This is an accounting and administrative nightmare, the likes of which cannot possibly be imagined. Rep. Scott Murphy (D-NY) offered a bill on Friday morning that would repeal just this part of the healthcare bill. This move was in direct response to Republicans threatening to offer up similar legislation and attach it to the jobs bill last Thursday.
For the first time, House Democrats are proposing repealing a piece of the health care overhaul, one that small businesses have been warning is going to be overly burdensome. The move comes just four months after the Democrats' health plan passed in March. The provision would have required businesses to file 1099 tax forms for all transactions with vendors that total over $600.
Funny enough, the only reason Dems are even looking at repealing this is so Republicans won't be seen as having any kind of win on the repeal of healthcare. Hey, I don't care what it takes to get rid of this stupid and idiotic requirement-I'll take it.