Monday, July 26, 2010

Things We are Learning About the HealthCare and Financial "Reform" Bills

As details are disclosed on these massive bills, I will update this list.

The Healthcare Bill:

*You will be required to pay personal income taxes on the employer's contribution to your health insurance. (More details here.)

*Requires gold coin dealers to fill out 1099 forms (to be sent to the IRS) on any gold coin purchases or sales over $601(More details here)
*Coverage for the previously uninsured will be "paid" in part by a reduction in healthcare payments to the elderly and disabled.(More details here)

The Financial "Reform" Bill

*New Minimums on What You Can Charge on a Credit Card (More details here)

*The SEC is exempt from the Freedom of Information Act as a result of a clause in the Dodd-Frank Bill (More details here)

*Contains a provision that requires companies buying gold and other minerals to submit an annual report outlining what they are doing to ensure their minerals are "conflict-free." (More details here)

*Raises the maximum FDIC deposit insurance amount to $250,000 (More details here)

* Section 1205 is a provision titled "Low-cost alternatives to payday loans" in which the government outlines its plans for establishing what is essentially a payday loan advance business (More details here)

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