Bob Brinker: Market Savant & Radio Host Message Board

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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Skeeter Bug who wrote (42806)	7/21/2010 4:24:03 PM
From: Boca_PETE	Read Replies (1) of 42834

Skeeter Bug, Your plan to load up in the future on gold and silver may need revision based upon this ugly news: abcnews.go.com 7/21/2010: Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change. This provision, intended to mine what the IRS deems a vast reservoir of uncollected income tax, was included in the health care legislation ostensibly as a way to pay for it. The tax code tweak is expected to raise $17 billion over the next 10 years, according to the Joint Committee on Taxation. Best wishes for survival under the increasing grip of this regime. P

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