Reid’s Super-Com picks: Tax lovers and earmarkers

‘Reid Leads Senate as Compromise Avoids Fiscal Catastrophe’—That’s the laughable title of a video parked at Sen. Harry Reid’s official government website. Had Reid actually led the Senate from November 2006-November 2010 when Democrats had full control of Congress, the politics of the debt ceiling fight could’ve been avoided. The fiscal catastrophe was not, by the way, averted. It’s still there. (Screen snip from video at US government website)Sen. Harry Reid’s (D-Nev.) picks for the new Super Committee share one thing in common. They’re all tax and spend progressives. Two are champion earmarkers.

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GOP impact: Dem committee chair wants 1099 proviso in PPAC repealed

One backdoor tax tucked into the Patient Protection and Affordable Care Act (HR 3590) was a proviso expanding reporting for small businesses via IRS form 1099. This requirement mandated that small businesses report the payment of more than $600 to any individual or corporation (as opposed to contractors). Small businesses like The US Report and others across the land will be subject to this requirement and completing the extra paperwork would cost more time or money depending on whether you use a tax preparer or do the return yourself.

Current chair of the Senate Finance Committee, Democrat Max Baucus (Mont.) wants the provision repealed. CNN Money said,  “Top Democrats are uniting with Republicans in a show of support for small business owners: Senate Finance Committee Chairman Max Baucus, D-Mont., said Friday that he will introduce legislation to repeal the expanded 1099 reporting requirements set to take effect in 2012.”

Freshmen in the US House of Representatives don’t fit the traditional politico mold.

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