WSJ commentary points how the IRS’ new role in our health care is likely to cause increased costs and burdens on both small businesses that create jobs, and the agency itself — for no good reason.
. . . starting in 2013 they will also have to report the value ofgoods they buy from a single vendor that total more than $600 annually—including office supplies and the like.
. . . the tracking costs for small businesses will be “disproportionate as compared with any resulting improvement in tax compliance.”
Meanwhile, the IRS will be inundated with useless information, because without a huge upgrade its information systems won’t be able to manage and track the nanodetails.
In a Monday letter, even Democratic Senators Mark Begich (Alaska), Ben Nelson (Nebraska), Jeanne Shaheen (New Hampshire) and Evan Bayh (Indiana) denounce this new “burden” on small businesses and insist that the IRS use its discretion to find “better ways to structure this reporting requirement.” In other words, they want regulators to fix one problem among many that all four Senators created by voting for ObamaCare.
The law that Republicans opposed amid ridicule is now showing us “what’s in it,” as Nancy Pelosi promised. And the picture isn’t pretty. Those of us in Elkhart County need to remember who foisted this monstrosity on us come November.