Remember the famous Pelosi quote? "We have to pass the bill in order to find out what is in it"!
Well, read here something that is in the bill which has not a darn thing to do with healthcare!
Those already outraged by the president's health care legislation now have a new bone of contention -- a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.
If you buy or sell gold coins, the Government wants to know all about it and will tax you in the process.
Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.
So every time a member of the public sells more than $600 worth of gold to a dealer, Piret said, the transaction will have to be reported to the government by the buyer.
And somewhere in that vast Federal database, it will be recorded what you bought or sold and presumbably what you are holding on to.
Remember when FDR confiscated gold in the 1930's?????
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