25 Apr 2023 7:14 am
peepee » 25 Apr 2023, 6:54 am » wrote: ↑ ...oh goody!!! ..you mean you get to exchange a one-ounce gold coin you purchased for $2000 for $50 of tax liability....
"The first step towards mainstreaming recognition as legal tender is to eliminate sales tax from precious metals, which is now the case in 42 states.This is crucial because it eliminates needless transaction costs and unnecessary frictions which can hamper freedom of exchange.Moreover, sales or capital gains tax implies that gold or silver is a commodity and not money.Secondly, states are looking to establish depositories or precious metals reserves to act as a hedge against runaway inflation and to boost pension funds.Thirdly, newly introduced bills are arguing for the removal of income tax on the sale of gold or silver."
https://www.investorsobserver.com/news/ ... 1749687833