reply to post by SirKnightE
I think the timing will be 2012-13 or perhaps a bit later. It depends on how nasty the FDA and IRS are to people and how big the bureaucratic army is.
We are going to see the US economy severely crippled and a LOT of very angry people. Watch for a permanent Patriot Act and UN troops stationed in the
Here is why:
When the new 1099 tax change from Obamacare hits businesses in 2012 you are going to see a bunch of VERY ANGRY people. Here is a fairly short
ramifications of this tax change.
There are 25.4 million businesses in the USA and only 17,000 are large businesses. 50% of US jobs are generated by those 25 million small businesses
so many of the workers are going to here the boss b**ching and moaning. Many are going to lose their jobs as the law bankrupts small firms and they
are going to KNOW WHY this time.
Here are the three biggest problems I see outside of the massive paperwork problem:
1. Businesses especially the larger businesses like Sam's Club/Walmart, Office Max, and Home Depot refuse to give out their business tax number. This
will shut down a lot of small businesses who rely on these big chains for supplies.
2. Scam artists will start up "small businesses" and use them to collect SS# with addresses and names and then sell or use them.
3. Small businesses, afraid to release their SS#, provide false SS#'s or someone makes a copying mistake. This means the IRS will demand you go into
withholding for EVERYONE you use a 1099 for starting in 2013.( Been there done that.) One false SS# will trigger an IRS demand for withholding on ALL
SS# since the IRS will not give out who supplied the false SS#. You now have to file a lot more forms quarterly AND pay withholding.
Now think about what this will effect:
EVERY store clerk,
EVERY gas station attendant,
EVERY Motel front desk person
ANYONE who sells to a business person or anyone who fills out an expense sheet to get reimbursed for funds is going to have to go through the hassle
of exchanging Business Name, Address and tax number and making sure the information is correct for EVERY purchase they make.
And all those people are going to complain LOUDLY to their friends.
You thought waiting in line at Walmart was bad a Christmas... You thought the prices were high after the gas price increase in 2007....
And that does not include the 2.1 million very angry farmers impacted by the food safety Law and the resulting sharp increase in food prices.
Forbes: FDA New Food Safety
Regulations Won't Improve Food Safety
LAWYER: Commerce Clause could mean
Food Safety bill includes home gardens
2012 is going to be a very interesting year as those two changes impact a lot of people and the US economy takes another deep nose dive.