Stop Taxes on Gold and Silver Coins and Bullion!
U.S Representative Re-Introduces a Bill that Could Remove Taxes from Coins and Bullion
It is the most audacious flim-flam, for the government to make the nation’s legal tender so unreliable that people have to protect themselves from its devaluation, and then tax them punitively for successfully protecting themselves from it. It’s like installing a clock on your front door, and then the government taxing you on valuables that aren’t stolen.
They intend to get you one way or the other. But maybe they can be stopped!
U.S. Representative Alex Mooney (R-WV) is trying. He has re-introduced The Monetary Metals Tax Neutrality Act (H.R. 8279).
Representative Mooney’s bill would remove all federal income taxation from gold and silver coins and bullion.
“My view, which is backed up by language in the U.S. Constitution, is that gold and silver coins are money and are legal tender,” Rep. Mooney said. “If they’re indeed U.S. money, it seems there should be no taxes on them at all. So, why are we taxing these coins as collectibles?”
Of course, the Deep State Money Manipulators know the monetary performance of gold and silver is far superior to the made-up, unbacked, digitally-printed US dollar. Legal tender laws are intended to force people to use fiat dollars instead of gold and silver, reminiscent of the way Kublai Khan forced his subjects in China to use mulberry bark with his imprint, while he requisitioned all the real money, gold, for himself.
No one ever has to pass a legal tender law to force people to choose superior money that retains its value. They only pass legal tender laws to force people to use money of sketchy provenance and value.
The IRS also classifies gold and silver in the same category as artwork, baseball cards, and other so-called “collectibles.” This applies a higher rate of capital gains taxation than other investments. It’s just another front in the war on gold.
Under Rep. Mooney’s bill, the Monetary Metals Tax Neutrality Act, precious metals gains and losses would not be included in any calculations of a taxpayer’s federal taxable income. It states that “no gain or loss shall be recognized on the sale or exchange of (1) gold, silver, platinum, or palladium minted and issued by the Secretary at any time or (2), refined gold or silver bullion, coins, bars, rounds, or ingots which are valued primarily based on their metal content and not their form.”
Read the bill HERE. Contact Congressman Mooney HERE.