What does Gold have to do with Obamacare?

[puttincomputers]

Numismatic News, a highly respected publication read by many coin collectors, reported a shocking discovery in both their printed publication and on their website.

Numismatic News reported:

Section 9006 of the Patient Protection and Affordable Care Act (Public Law 111-148, signed into law by President Obama this spring) turns 1099 forms into reporting forms not only for independent contractors' income — what they have long been used for — but also to show sales, gains and losses on purchases and sales of goods as part of a trade or business.”

The article also added: “What has happened is that effective Jan. 1, 2012, the whole system of giving and receiving Internal Revenue Service 1099 forms will be turned on its head and all persons (including corporations) who are in business will now have to give 1099 tax reporting forms for coins and other goods that they sell as well as buy."

http://www.thenewamerican.com/index.php ... y-affected

[benji]

And what does that have to do with Gold specifically?

You now have to issue 1099 forms to anyone you do business with more than $600 in a single year, this has been known for some time as placed in to the bill in an attempt to raise more tax revenue or fines. We couldn't know it was in there until it was passed anyway, just like we won't know what's in the new Wall Street regulations until it is signed into law. That's why we have to pass and enact these things, so we can find out what they do.