Lars Larson: It’s time we repealed the ObamaCare 1099 rule

ObamaCare actually says they are going to start enforcing a rule that says that every single transaction you engage in as a business or dealing with a business, if you buy something or sell something, must generate a 1099 form. It applies to purchases over $600.

Why is that significant? Because, an awfully lot of small businesses will have to generate tens of thousands of these forms. Why? Because the IRS is going to try to chase down a few dollars in income taxes that aren’t be paid by people who don’t declare them.

It’s an absolutely insane level of regulation. It’s going to create more bureaucracy and more cost than the money that it generates for the American treasury.

It’s time to repeal it as soon as Republicans take control again of the U.S. Congress.

“For more Lars click here”

  • Jerry

    This “rule” could bring back cashless barter in a big way.
    What idiots.
    Voting for something they did not even read much less understand.

  • Anonymous

    “It’s an absolutely insane level of regulation.”

    Lars, I would not describe you as the sharpest tool in the shed, nor would I necessarily describe you as being what I think of as a stable individual, but for once we are in agreement. Section 9006 of the health care bill is totally EFFING INSANE!!

  • Rupert in Springfield

    Is there anything out there that symbolizes the Democrat parties perceived antagonism towards business in quite the way this rule does?

    When I heard about this several months ago I was stunned. I quickly calculated how many businesses I do over $600 with over the course of a year. I then tried to figure out how many days of my life had been lost through having to fill out these forms.

    Will the IRS reimburse me for my time in filling out this sort of nonsense?

    Not on your life. Only public employee unions get that sort of thing.

    If there is one thing Obama has been crystal clear on – he intends to hammer small business as hard as possible. The tax increases that will come next year for type S corps with expiration of the Bush tax cuts will be phenomenal.

    Combine that with Salem’s all out war on small business and it will be a rocky ride for the foreseeable future.

  • Bob Clark

    This provision of ObamaCare should be addressed immediately by abolishing it, possibly by attaching it to the small business legislation planned for later this week in the Senate. If it is not addressed soon, folks need to oust all incumbent Democrats who voted for this convoluted health care bill. Wouldn’t it have been far simpler just to provide like health care stamps, similar to the food stamp program, for the truly poor via a very strict means test? Wyden, Wu, Blumenhauer, and Schrader instead vote for this 2400 page hair brain package, which Wyden now reportedly wants Oregon exempted. Good luck on that ever getting bye the Sectary of Health and Human Services. Wyden, Wu, and Schrader are so ineffective congressman.

  • valley p

    Sure…repeal it and drive the budget deficit up by another 10 billion or so. Why not? Fiscal conservatism is so passe.

  • Founding Fathers

    How about we repeal Lars’ radio shows?

    He’s either an ignoramus or a liar, or perhaps both. Either one should disqualify him from his position.