My guess is that they will raise that $600 limit, a lot. Otherwise small businesses would just get toasted
That is exactly what I was thinking. I thought perhaps he meant there were issues with the limitations of money supply and that they were preventing people from spending too much with cash due to a limited number of notes. But I don't think that is what he meant.
its only about taxes nothing else. If someone cant understand italian, interpretations could be wrong, so it happens to ZH.
An until-now unnoticed provision of the new health care overhaul law could change the way U.S. businessesâincluding freelance workersâprepare for tax day, causing an avalanche of additional recordkeeping and reporting. According to Section 9006 of the 2,409-page Patient Protection and Affordable Care Act, beginning on January 1, 2012 all businesses will have to issue 1099 tax forms not just to contractors but to any individual or corporation from which they buy more than $600 in goods or services in a tax year. Currently 1099s need only be issued to individuals, not corporations. The requirement will now include items such as shipping charges, hotel bills, and equipment purchases, all currently exempt from 1099 reporting. While the notion of sending a tax form to Costco for every large purchase may seem absurd to small business owners, that's not the worst of it, says Marianne Couch, a principal with the Cokola Tax Group in Michigan and former chairwoman of the IRS Information Reporting Program Advisory Committee's subcommittee on small business and self-employed tax issues. Full story here........ http://www.heartland.org/healthpoli..._Provision_1099s_Could_Quintuple_in_2012.html
Oh boy, now Italy is bankrupt because ZeroHedge and other propaganda crap&gold permabull who can't understand the difference between a limit on the cash transactions and a limit on the cash withdrawings say so. Thanks man, that's a really good info, LOL
If one reads the article instead of just going apeshit, one would see this text in the opening paragraph: They are lowering the limit from 12.5k euros to 5k.
These measures are long overdue. I don't know about everyone else but I am sick and tired and disgusted of paying into a tax system where many who work the cash system have the better lifestyles. I am tired and angry for having to pay for these freeloaders. I have literally paid millions in taxes and continue to bust my chops to get ahead where clients I know snicker and tell me they paid $6,000 only and the live in 5,000 sq ft homes and driving convertible benzes and pay golf 3-5 days a week.