On Sat, 26 Jul 2008 22:10:58 -0700 (PDT), Gerry
wrote:

Heard there was something added at the last minute to require all
credit card companies to report all CC transactions to the IRS as well-
going after all the Ebay/PayPal transactions that are getting by tax
free because there is no W2 or 1099 involved presently
==========
This indeed seems to be the case.

If you down load the pdf file at
http://www.americanbanker.com/media/...SenateBill.pdf
look at page 681 to the end. This was tacked on as a "revenue
offset."

I started to read the bill but my eyes glazed over, and who knows
what was slipped in at the last minute or even after the passage
of the bill....

Reality is starting to intrude on the Capitol, and they just
can't believe there is no money left because they spent it all,
therefore the taxpayers must be cheating.

Welcome to the "brave new [third] world order" where all the
growth industries are in the "underground economy."


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).