OBAMACARE CLAUSE: Mandatory Reporting ALL Purchases over $600! - Category:Christian_Conservative_News
OBAMACARE CLAUSE: Mandatory Reporting ALL Purchases over $600!
In the latest attempt to strip Americans of their financial freedom, starting in January, 2012, every U.S. citizen will be required to report all goods and services purchased in excess of $600 (including rental cars, airline tickets, office supplies) on a 1099 form.
Why? Disguised as an effort to collect an estimated $17 Billion in new taxes to help pay for health care reform over the next ten years, experts say this new 1099 reporting requirement provision will cost businesses and the government more money than it can ever hope to generate.
Apparently our Congressmen didn't bother to read the fine print regarding the new reporting requirements embedded within Section 9006 of the new "Patient Protection and Affordable Care Act" aka "The Health Care Reform Act of 2010." Or maybe they did read it but we just didn't properly read their tightly sealed lips.
Swiss America Chairman Craig Smith who is critical of the new law said, "First, the burden of paperwork this ill-conceived provision will put upon businesspeople will be devastating and is likely to further kill jobs at a time we desperately need new job creation.”
"Second, this provision is designed to further invade the public's privacy and is a another illustration of how our nation is slowly being pushed toward a totalitarian state by the elite ruling class who now control the White House, Congress, academia, mass media and entertainment."
"Thirdly, section 9006 raises new concerns of the possibility of another gold confiscation by the Federal government the way we had back in 1933 during the Great Depression, despite recent government claims otherwise by Rep. Anthony Weiner from NY.”
To the contrary, John Levin, HSBC Bank's Managing Director of Global Metals and Trading recently explained why this banking giant holds their physical gold in Europe:
"HSBC does not want their gold stored in the U.S. but preferably in Europe because they feared that at some stage the U.S. Administration might follow the path set by Franklin D. Roosevelt in 1933 and confiscate all U.S. gold holdings as part of the country's strategy in dealing with the nation's economic problems," reports Mineweb.com.
http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=106063&sn=Detail
Historically, governments have banned the ownership of gold prior to their citizens refusing to use that which they call "money". In the last U.S. gold confiscation the only gold holdings that could be kept in your safe deposit box without any fear of confiscation were collector coins. Although the laws could be further changed, numismatic coins have historically been the safest and most private form of gold to own.
To keep our constitutional freedoms, either ObamaCare needs to be repealed or new legislation needs to be enacted to repeal section 9006 of the health care bill (H.R. 5151). The pending bill as of 7/22/10 has 106 co-sponsors:
http://www.opencongress.org/bill/111-h5141/show
PUBLIC SERVICE OFFER:
A FREE Swiss America special report that discusses the issues of privacy in more detail entitled, "THE RIGHT TO OWN GOLD" is available at:
https://secure.swissamerica.com/offer/RTOGoffer.php
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