Tag Archives: Small Business

The 1099 Insurrection: Obama fights effort to ease burden on small business

A Wall Street Journal Opinion

You might not have seen it reported, but the Senate will vote this morning on whether to repeal part of ObamaCare that it passed only months ago. The White House is opposed, but this fight is likely to be the first of many as Americans discover—as Nancy Pelosi once famously predicted—what’s in the bill.

The Senate will vote on amendments to the White House small business bill that would rescind an ObamaCare mandate that companies track and submit to the IRS all business-to-business transactions over $600 annually. Democrats tucked the 1099 reporting footnote into the bill to raise an estimated $17.1 billion, part of the effort to claim that ObamaCare reduces the deficit by $100 billion or so.

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Wall Street’s 10 Greatest Lies of 2009

By Nomi Prins,      AlterNet December 28, 2009.

Lies that justify screwing over Main Street.

On December 13, President Obama declared that he was not elected to help the “fat cats.” But the cats got another version of that memo.

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Then the Financial Tsunami Hit … Frontline report

This is a front line report on the class war.   Edwin Girdle (The Colonel) had an excellent business going until he needed a loan after the shock of 2008.  The banks that got billions weren’t lending and there was no help anywhere else in the “safety net.”  His story is compelling and clear.  Noted at Jerome Doolittle’s blog at SmirkingChimp.com who first posted this and reprinted with Mr. Girdle’s permission. Michael Collins

For three years I owned and operated a mini-market/gas station in a Cincinnati, Ohio suburb. I bought an already existing store using all the assets I had, including my 401K funds, after being down-sized from my middle-management career of 22 years (in one of the many industries which the U.S. can no longer keep onshore).

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