Disturbing Discussions reveled
By bobmnu
@bobmnu (8157)
United States
October 13, 2010 11:51pm CST
I received two emails today that disturbed me. The first one was from an investment advisor who pointed out that under the new Health Care Law (The official law is in section 9006 of the Patient Protection and Affordable Care Act) people and business are required to file a 1099 form for every person you pay $600 or more or for a business it it any person or business that you pay $600 or more in a year. For the first time people who trade in Gold and rare coins are now included. The email (which is not a flaky newsletter) went on to say during the time of a Baking and Economic Crisis the government could confiscate peoples gold similar to how FDR did it between using Trading with the Enemy Act and An Executive Order. The government set the price below the market and people had to sell the gold to the government or have it taken. Under the new Health Care law the government will know who has gold and can confiscate it or buy it at the government price of less than $50.00 per ounce.
The Second email talked about the government talking again about saving SS by taking over the public and private retirement plans including the 401k and the IRAs. This was first mentioned by a congressional aid shortly after the 2008 elections. Already Rep. George Miller (D-CA) has held hearings on possible ways to save SS and this was discussed.
The fact that these things are being talked about at the Administration is troubling. It makes the upcoming elections even more important.
If you think this is just some kookie theory and it is something that could never happen just ask the Bond Holders of GM and Chrysler. In a normal Bankruptcy they would have been paid close to the full value but under the Government imposed deal they lost almost everything because the Government changed the rules by crying Economic Crisis and we need to take different action. SS is at a Critical point and we need to take drastic action. Will that be an announcement that we will hear soon?
4 responses
@thegreatdebater (7316)
• United States
15 Oct 10
Bob, first off the whole gold theory doesn't effect many people at all seeing how very few people in this country own gold. The other problem with gold is that no one really knows how much is really out there. There was a study that showed that if you took the world wide supply of gold and put it in an Olympic size swimming pool it would barely fill it. Social Security has been a problem for decades, every time we have an economic downturn the amount of money going into social security goes down. Once the economy comes back around, we get a surplus.
@Destiny007 (5805)
• United States
15 Oct 10
What a load of crap that is. There will never be any surplus with this kind of spending.
As for the gold.. you are wrong there too.
History is about to repeat itself.
@thegreatdebater (7316)
• United States
15 Oct 10
Tiny, we had surpluses under Clinton, Bush was the one that spent all of that money, and I sure didn't hear you complaining about that. Funny how you don't mind spending when it is your guy doing the spending. Provide me with facts about gold to back your statement up, or move on Tiny.
@bobmnu (8157)
• United States
18 Oct 10
I would effect a number of people because it would include gold held in Exchange Traded Funds where someone else holds the gold but you own a share of it.
Don't forget that President Clinton had a Republican Congress to keep his spending in check and when the economy started to go to pot it was the Democrats who were incharge of the Congress.
@spalladino (17891)
• United States
15 Oct 10
Businesses already have to send a 1099 to any independent contractor who performs a service for them because that person is not on the payroll so payroll taxes are not deducted from what is paid. For instance, if a business hires an electrician to do a job, the electrician would receive a 1099. If the business hired an electrical company to do the job and that company sent an employee, a 1099 would not be necessary and still won't be necessary as far as I know because the other business takes care of payroll taxes for their employees.
I will say at the outset that I am totally against the 1099 for vendors. As far as I know, this does not mean that my business will have to send a 1099 to Walmart, for instance, for office supplies but that we would have to send them to our parts suppliers to ensure that sales tax is paid. Some of the parts we buy online are sold tax free and I still don't know how they plan to figure interstate sales with different sales tax rates.
@Destiny007 (5805)
• United States
15 Oct 10
Unless we take control of our country back from the progressive socialist traitors of the Constitution, the things that we have seen so far will only be the beginning.
The government has temporary control of healthcare despite a majority of Americans being opposed to it and wanting it's repeal... and that is just the beginning of the progressive wish list.
They want to control our finances as well, including our retirement funds... after all, they have done such a fine job with Social Security, Medicare, and the economy... just think how well off we will all be when they control our retirement funds.
@Adoniah (7512)
• United States
14 Oct 10
Yeah, my cousin and I were talking about the $600 a year in reference to the gold people the other day. We both were wondering when the Gov. was going to try to take back all the gold bullion that folks were collecting. I figured that it was about ripe for that to happen. It would be another way to rip off the middle class that had hedged for retirement. I know a lot of folks who have been doing that. For some, that is all they have left. My ex took all of mine..lol
It should be a crime to tag unrelated stuff onto bills...Someone needs to do something about that. The Healthcare Bill is unconstitutional as it is, but the stuff they tagged onto it is unbelievable....
Shalom~Adoniah
