Have a Small Business? Get Ready for Dodd’s “eBay Reporting Provision”

Infowars
June 21, 2008

Now that Congress has all but decimated the Fourth Amendment with the intrusive so-called FISA bill, it’s time to go after small business. “Hidden deep in Senator Christopher Dodd’s 630-page Senate housing legislation is a sweeping provision that affects the privacy and operation of nearly all of America’s small businesses. The provision, which was added by the bill’s managers without debate this week, would require the nation’s payment systems to track, aggregate, and report information on nearly every electronic transaction to the federal government,” explains FreedomWorks.

Not surprisingly, this bill also contains a provision to fingerprint all mortgage brokers.

If you have a PayPal button on your website and have fewer than 200 transactions or a total value less than $10,000, you will be required to report to the government. “This is a provision with astonishing reach, and it was slipped into the bill just this week. Not only does it affect nearly every credit card transaction in America, such as Visa, MasterCard, Discover, and American Express, but the bill specifically targets payment systems like eBay’s PayPal, Amazon, and Google Checkout that are used by many small online businesses. The privacy implications for America’s small businesses are breathtaking,” says FreedomWorks Chairman Dick Armey.

Not only is this bill about tracking small business, it’s also about fleecing the small business owner, as the proposal will raise $9.802 billion over ten years. Chris Dodd gets a sweetheart deal on his mortgage from Countrywide, one of the beneficiaries of this “housing” bill, while the little guy has to surrender the clothes on his back to the government. But then that’s the business of government, to bend the little guy over a barrel at gunpoint.

Also not surprising is the fact the corporate media has not reported on this new provision. A search of Google News returns the Hartford Courant, WorldNetDaily, and Slashdot, period.

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