This weekend’s editorial is impressively misleading, even by the standards of the Wall Street Journal editorial page. Read it. Decide what you think about the 1099 controversy.
Then read what they left out.
I guess they really, really want to nurture small-business talking-point problems they can blame on health reform.
One of the talking points on 1099 reform is risk of identity theft - many service providers use their SSN as a tax ID number. There’s also an argument that it will lead to less business for small providers - if a business has to file a 1099 whenever a $600 threshold is reached then rather than hassle with Joe’s office supply for the best deal on paper and print cartridges, and Hazels for binders and pens a business will just go to Office Depot for all their supplies - only having to track one supplier means less time spent on compliance.
$5000/under 25 employees exemption seems like a reasonable compromise provision. Shame that it was filibustered.