Friday, February 4, 2011
It took two years to do it, but Barack Obama finally succeeded in getting Republicans and Democrats to reach across the aisle, join hands, and pass legislation which will help protect small businesses from the devastating effects...of Obamacare.
Buried deep inside the two thousand page healthcare bill which "had to be passed so we could see what's in it" was a provision forcing small businesses to file 1099 tax forms for every purchase they made over $600. Theoretically, this would have raised $17 billion for the government, which they desperately needed to make Obamacare's costs look manageable on paper.
Unfortunately, experts estimated that the new paperwork requirements would be so burdensome that 40% of small businesses would either have to close or layoff employees during a time of record unemployment.
Even the president, in his State of the Union address, agreed that this ridiculous provision had to go...although we fully expect him to now claim credit for the "jobs saved" by not instituting his own paperwork nightmare.
Still, we can't imagine that Mr. Obama is genuinely happy about this new, bipartisan agreement that someone should have checked "what's in it" before passing the healthcare bill.