When most Americans think about health care reform, they picture insurance being truly owned and controlled by patients, the ability to purchase insurance across state lines, and policies that make care more accessible by bringing down costs. What do the Democrats who wrote ObamaCare envision? For one thing, forcing businesses to fill out IRS forms for every expenditure over $600.
“Form 1099 today applies only to independent contractors, e.g. a graphic artist who earns $1,000 for designing a sales brochure. Come 2012, Obamacare will vastly expand 1099s to sellers of goods as well as services, and not just the self-employed, but also businesses – large and small.”
“Imagine that a small company sacrifices the equivalent of just two hours each month to perform these calculations and file 1099s at tax season. Every year, this would cost – get this – $1,776.”
“Many struggling businesses would waste even more money on this fresh headache. Every dollar spent to spew out 1099s is one less dollar that could pay new employees, train existing staffers, or develop new products, services, and markets.”
“Over ten years, this measure would extract $17 billion from the jugulars of America’s already anemic small businesses.”
“Atop this, the Galen Institute’s Grace-Marie Turner reports that Obamacare will require employers to evaluate their health plans’ affordability by calculating each employee’s household income, not just that worker’s individual wages. This likely will involve, at a minimum, collecting income declarations from every staff member.”