Health Care and Small Business

http://www.futureofcapitalism.com/2010/05/health-care-and-small-business

The president and CEO of the National Federation of Independent Business, Dan Danner, has an op-ed piece in the Wall Street Journal spelling out some of the problems with the new health care law:

Adding insult to injury, the law also requires all businesses to issue IRS 1099 forms to document every business-to-business transaction of $600 or more. To someone who's never run a business, this may sound like nothing. But Congress hopes to raise $17 billion in added tax revenues and fees from this new mandate. That's hardly nothing.

The burden of raising that expected revenue falls again on the backs of small business owners who already suffer under unmanageable federal paperwork burdens. What's worse, this new reporting requirement has absolutely nothing to do with health-care reform. It was included to help pay for the nearly trillion-dollar price tag of the bill. Why should small business owners have to pay for a bill that causes them so much harm? They shouldn't, which is why NFIB is fighting against this law in court.

by Editor  |  May 27, 2010 at 8:59 am Related Topics:  Health Care, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list