Now Even Democrats Want To Repeal Part Of Obamacare

Sadly, not the whole thing, just the part that imposes massive new tax paperwork burdens on businesses:

[T]the law requires businesses to file a 1099 tax form identifying anyone to whom they pay $600 or more for goods or merchandise in a year. Businesses will also have to send copies of the form to their vendors, suppliers and contractors.

Tax compliance already costs a whopping $140 Billion per year.  That is not a typo.  Just filling out the damn forms already costs 1% of GDP.  

That is certainly no surprise to me.  As a lawyer, I deal with complex issues and statutes every day.  Hell, I deal with complex regulatory regimes every day.  And I gave up on doing my own taxes years ago.  There is simply no way I would have been able to do them accurately without investing dozens of hours per year, so I had to hire an accountant.  That is insane. 

But rather than simplifying things — since that would diminish their ability to grant dispensation from tax burdens to favored constituencies — the Democrats massively increased those burdens with the Obamacare legislation.  Thanks.

This caused Glenn Reynolds to joke that “[t]he new approach will be for them to just take your whole paycheck, and send you whatever’s left at the end of the month. . . .”  Sadly, that is not far off the mark.  These guys really seem to think that our money is their money.

For instance, I was watching FoxNews this morning and they had on one of V.P. Biden’s staff members, I think it was his chief of staff.   He was talking about the tax increase Obama is pushing for by refusing to continue current tax rates introduced during the Bush Administration.  His position is that keeping existing tax rates in place would be a “waste of money.”

Yes, a “waste of money” if people keep what they earn rather than having it confiscated by the government.

 Query — what, if anything, was the “stimulus” spending other than a waste of money?  Moreover, if businesses and business owners weren’t rightly concerned that the Democrats will eventually have to pass the bill on to them, perhaps they might just employ a few more people. 

But for the Democrats, the solution is to take more, always more, so they can spend more, always more.  And this time, they promise us, it will work.

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Published in: on September 14, 2010 at 9:59 am  Leave a Comment  

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