Sunday, September 9, 2018

After several states remove taxation on gold and silver purchases, a Congressman now wants to make it Federal Law

It is disconcerting for Americans when they see their government blatantly disregard the Constitution in order to both protect and facilitate an agenda which is propagated on the people through fraud.  And in this we are referring to the usurpation by Congress and the Executive Branch of what is legally the nation's money.

The Constitution outlines what money is, and the Coinage Act of 1792 reinforces this by stating that only gold and silver are to be considered a medium of exchange for the people.  However as we have seen over the past 60 years, corrupt forces within the government have completely abolished this rule of law and instead turned what was money into a simple commodity.

But as history has shown a myriad of times, once a nation begins down the path of destroying its monetary system, the end result is not only a loss of confidence in that money, but more often than not an end to the prosperity and legitimacy of that government.

Fortunately however, there appears to sill be a few government officials in the U.S. that are willing to stand up to save the financial and monetary system, and in a step that began a few years ago at the state level, Congress is seeking to return gold and silver back to its rightful place by removing taxation on the precious metals and changing it back from a commodity to that of sound money.

The battle to end taxation of constitutional money has reached the federal level as U.S. Representative Alex Mooney (R-WV) today introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion. 
The Monetary Metals Tax Neutrality Act – backed by the Sound Money Defense League, Money Metals Exchange, and free-market activists – 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. 
Acting unilaterally, the Internal Revenue Service has placed gold and silver in the same “collectibles” category as artwork, Beanie Babies, and baseball cards, a classification that subjects the monetary metals to a discriminatorily high long-term capital gains tax rate of 28%. – Silver Doctors


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