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Wyoming Bill: Gold Is Money, and Money Should Not Be Taxed

EIN News  ( Original )
MAR 8, 2018

Among the many hats gold has worn (and, as the below demonstrates, continues to wear despite periodical perception to the contrary) is that of money. Not currency, money. Real, valuable-in-and-of-itself value store.

It’s a testimony to how far the pendulum has swung in the bizarro direction of viewing printed paper as money and gold as somehow not that while paper currency is freely exchanged with no taxable ramifications, the same cannot be said of gold.

Is this another glimpse of the reality of gold’s enduring value as money making its way to the fore?

HB 103 is a bill that removes all state taxation from gold and silver bullion and reaffirms their legal tender status in Wyoming, in keeping with Article 1, Section 10 of the U.S. Constitution.

Testifying before the Senate Minerals, Business, and Economic Development Committee, Sound Money Defense League Policy Director Jp Cortez made the case to Wyoming legislators that assessing taxes on purchases of gold and silver is unjust and undermines their constitutional status as money.

Representative Edwards said in support of HB 103, “Imagine going to the grocery store and asking the clerk for change for a $20 bill and being charged 80-cents in tax. That’s what we’re doing in Wyoming by charging sales taxes on precious metals and we’re taking steps to change that.”

ORIGINAL SOURCE: Wyoming Legislature Passes Bill to End All Taxation of Gold & Silver at EIN News on 3/7/18