LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

What Do The Charts Now Say About Gold & Silver?
By: Steve St. Angelo, SRSrocco Report

Canadian tax authorities recover C$82 million from Kitco in fraud case
By: GATA

Precious Metals Update Video: Gold Corrects
By: Ira Epstein

Asian Metals Market Update: July-2-2020
By: Chintan Karnani, Insignia Consultants

These Are the Times That Call for Gold
By: Stefan Gleason, Money Metals Exchange

What Went Wrong In 1971
By: Jan Nieuwenhuijs

How the Dow Could Break 30,000
By: Rick Ackerman, Rick's Picks

Extreme COMEX Delivery Demand Continue
By: Craig Hemke

Gold And Mining Stocks vs Stocks – Many Will Be Surprised
By: Dave Kranzler

Position yourself for where gold is going (Video)
By: Bill Murphy

 
Search

GoldSeek Web

 
West Virginia Joins Growing Sound Money Movement


 -- Published: Monday, 8 April 2019 | Print  | Disqus 

By: Jp Cortez

Six Other States Now Weighing Their Own Bills to End Taxes on Gold & Silver

Before the ink could even dry on West Virginia Governor Jim Justice’s signature on a repeal of sales taxation on gold, silver, platinum, and palladium bullion and coins, legislators in Wisconsin and Maine introduced similar measures in their own states.

All told, 39 states have now reduced or eliminated sales taxes on the monetary metals, and Wisconsin, Maine, Kansas, Arkansas, Minnesota, and Tennessee are all actively considering bills of their own this month.

West Virginia’s Senate Bill 502 enjoyed tremendous popularity, passing through the State Senate unanimously before passing out of the House 90-9. Starting July 1, investors, savers, and small businesses in the state are no longer required to pay sales and use tax on the exchange of dollars for the monetary metals.

Earlier this week, Representative Justin Fecteau (R - Augusta) of Maine introduced LD 1446, a measure to repeal sales taxes on precious metals, saying, “Seven years since his 2012 run for President, the monetary policy lessons of Congressman Ron Paul still stick out to me. This bill is an important first step to restore sound money in Maine by refusing to tax the conversion from one legal tender to another.”

And Wisconsin State Representative Shea Sortwell (R - Two Rivers) today introduced his measure to end the taxation of money on the anniversary of President Franklin Roosevelt's controversial gold ban 86 years ago.

"On April 5th, 1933, President Franklin Roosevelt made the disastrous decision to confiscate individuals' private gold holdings through Executive Order 6102. American citizens were forced to turn in their gold under the threat of ten years in prison. Shortly after, the price was arbitrarily raised over 50%, a shocking theft of wealth from the American people," said Sortwell.

"Wisconsinites ought to have the choice and freedom to use alternative currencies and money without being taxed for it -- and this bill would put our precious metal sellers on an even playing field with our Midwest neighbors."

Meanwhile, West Virginia Congressman Alex Mooney (R-WV) is doing his own part to end federal income taxation of sound money.

Mooney’s Monetary Metals Tax Neutrality Act (H.R. 1089) would “clarify that the sale or exchange of precious metals bullion and coins are not to be included in capital gains, losses, or any other type of federal income calculation.” 

To be sure, the out-of-control spending and debt embraced by many politicians is directly undermining the value of the dollar and our savings, but momentum is building, particularly in the states, to restore sound money in America.

About the Author:

Jp Cortez is a graduate of Auburn University and a resident of Charlotte, North Carolina. He is the Policy Director of the 
Sound Money Defense League, an organization working to bring back gold and silver as America's constitutional money. Follow him on Twitter @JpCortez27

 


| Digg This Article
 -- Published: Monday, 8 April 2019 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.