SIGNED INTO LAW: Alabama Abolishes Income Taxes on Gold and Silver
Alabama Governor Key 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.
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.