More Underhanded Stuff
If you are worried about your savings "melting away" in a low interest paying bank account, you may have thought about investing some of it in gold coins or gold bullion. There have been a lot of ads on TV about purchasing gold to protect your "nest egg." Chances are that you may have taken advantage of this strategy.
CAUTION: The US government will now be heavily taxing the sales and ANY transactions that involve the sale or purchase of gold and precious metals. REALLY? Why haven't you heard about this? Interesting how the Lame Stream media "FILTERS" what you learn from them.
You didn't hear about it because it was a secret attachment to ObamaCare. You remember, the bill that you will have to find out what's in it "After we pass it" (Nancy Pelosi's remark to try and get it passed).
The Essence
So starting in 2012, any purchase of precious metals in coin or bullion, will be taxed by the IRS. You will receive a 1099 form and be required to fill it out and report the transaction. Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently, 1099 forms are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals.
What the hell is this regulation doing in a healthcare bill? Why weren't we notified about this little gem? Why didn't Congress tell us about this? Why so sneaky? Isn't this more proof that Congress is NOT TRUSTWORTHY? Doesn't this make you angry? How can we trust them when they are so sneaky?
This is just another TAX that the Obama administration has laid on Americans and forgot to tell us about it!
Action To Take
Demand that OBAMACARE be recalled. This is yet another reason why we need to undo this ObamaCare legislation.
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