One of the many little “details” that went unnoticed in Democrats’ rush to pass ObamaCare socialized medicine was a requirement that businesses start filing tax forms for any vendor that sells them at least $600 worth of goods in a given year.
Congress believes that vendors are not reporting their income fully. It sees this new rule as a way to get billions more tax dollars for government.
But businesses see it as a nightmare, because it is going to bury them in fresh new paperwork, requiring great expense and man hours. If there is even a possibility that a business making purchases from a vendor will cross the $600 threshold, it will have to keep and tabulate all those receipts, lest it run afoul of the law.
The Internal Revenue Service’s own internal watchdog admits that nearly 40 million businesses and charities will be hit by the requirement, and it says the IRS will struggle to keep up with the paperwork.
Even Democrats now admit the new rule is a bad idea, but one effort in the House of Representatives to overturn it has already failed.
Shouldn’t the American people have been made fully aware of these “unintended effects” of ObamaCare before it became the law of the land?