SIGNED INTO LAW: Alabama Abolishes Income Taxes on Gold and Silver
(www.moneymetals.com)
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It sounds like it’s only on the capital gains, which is still a big win as their ‘value’ will skyrocket as they ramp up the money supply. You’ll still have to pay income tax even if you earn income in gold.
It seems like that would be a state income tax on Capital Gains that they wouldn't have to pay. Still have to pay the feds though I would imagine.
Until the theft through tax system is erased. The way gold and silver are topics lately makes me believe the dollar is gonna go bye bye at just the right moment this year before the election so dems, leftists, cemetary residents, and illegals feel the pain and think twice before they vote for biden
Now abolish income tax on all income.
That's what I thought I was reading until I read it again, lol. Was going to say, if Memaw did that then I might just have to give her a second chance, otherwise I still am not a fan of hers. Wish she do away with income tax.
www.losthorizons.com
Alabama Governor Kay Ivey today signed a bill that removes all income taxes on capital gains from the sale of gold and silver, enabling the state to take an important step forward in reinforcing sound money principles. With this move, Alabama joins a growing number of states prioritizing the protection of citizens against the deleterious effects of inflation, currency debasement, and mounting federal debt. Enactment of Senate Bill 297 makes Alabama the 13th state in the nation that does not impose capital gains taxes on sales of gold and silver. Source: moneymetals.com
So... I'm pretty darn good at picking up on patterns...... What does it mean when multiple states are passing laws like these?
In particular, I think it was Utah just passed a bill allowing the state treasurer to store some of the states' assets / funds in physical gold & silver.
If the USD is the greatest fiat money in the history of history; if the USD has never been stronger and will be around for decades to come..... Why are MULTIPLE states passing laws like these?
Oh also; if you haven't seen the prices of gold & silver the past few months; take a look...... Not a hockey stick, but IMO a LOT of upward movement.....
if you don't own any gold nor silver; stop what you are doing, go buy some NOW. I NEVER tell people what to do; go buy gold & silver.
Fer cryin' out loud; COSTCO started selling gold bars recently....!!!!!!!!
Florida? Still taxing purchases under $500. Also, get is a repository and make it legal tender.
Sate and Local government need to start accepting payment in Silver and Gold Eagles. That is the real legal and lawful tender. The purchasing power is much different for the Gold and silver Eagle Dollars that it is for FRN's.
How would they know how much you paid and when?
It seems trivial right now, but as the price of gold runs up to $20k/oz and more then they’ll presume you got it for $2k/oz unless you can prove otherwise. We’re at the start of an inflation doom spiral and at a certain point it will basically all be taxed at the highest level. And when things start to actually fall apart they’ll come to confiscate it.