Location: Pantego, Texas, United States

Saturday, May 08, 2010

The Obama and the Democrats plan on strangling business enterprises in the US with onerous rules, regulations, and new taxes. They may think they are promoting "social justice," which is another name for socialism, but the end result will be the demise of much private enterprise. The health reform legislation contained a lot of these stealth regulations that have nothing to do with health. (These are the provisions that Nancy Pelosi said the bill had to be passed for us to find out about.) The new requirement is that businesses must issue 1099 forms to everyone that they buy anything from that is valued at more than $600 over the course of a year. Here is an article describing the situation. This should provide employment for more accountants, and drive up the cost of doing business.


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