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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Friday, May 07, 2010

TaxProf Blog: CNN: ObamaCare's Massive, Hidden Tax Change

The healthcare bill had embedded in it a structure to implement a VAT tax in the US....
The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.
So, this bill that was supposed to be about providing affordable healthcare to all Americans, also had other interesting things not even associated with healthcare in it. It is also preparing the nation for even more taxes and not necessarily taxes that are designed to raise funds for profligate healthcare spending but just to raise general revenue to feed the fantastic central government spending machine. The US is on the path toward European style socialism, a socialism that is in process of collapsing as indicated by the problems in Greece and bad situations forming in Portugal, Ireland and Spain. European and American socialism over the past decades has been a failure. If it was designed to achieve equality of outcome, it has not done that. If it was designed to achieve fairness, what is objective fairness? Socialism in Western nations since WWII has been an demographic indulgence based upon a large number of relatively healthy baby-boomers supporting a much smaller number of older folks. Now that these nations no longer have this demographic indulgence, a more normalized balance between the workers and the older folks is leading to a phenomenon where promises made to people to pay for their healthcare, food, shelter and clothing in old age in return for their money paid in taxes for decades during their working years will not be met. Ha ha ha. Good luck you stooges, you think someone else is going to pay for you now. Rubes.

TaxProf Blog: CNN: ObamaCare's Massive, Hidden Tax Change


At 6:33 PM, Anonymous Anonymous said...

Anybody who did not see this as a tax bill was not paying attention.


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