Proposed bill would end capital gains for precious metals sales

[jim4silver]

Proposed bill would end capital gains taxes for precious metals sales

I don't know if this proposed bill will make it or not, but if it does it would eliminate any capital gains tax upon the sale of silver and gold coins and bars. Sounds too good to be true.

If it passed, it would give people an incentive to "invest" in precious metals to get the tax free gains upon sale. That would give owning metal an advantage over gold and silver ETFs etc, (assuming they wouldn't get the same tax treatment), so maybe quite bullish for prices longer term for actual metals.

Congressmen Introduce Bill to End Taxation of Gold and Silver - WSIL-TV 3 Southern Illinois

 

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[galenrog]

Does not have a bill number, therefore it has not yet been formally introduced. Because the referred to article was published the 7th, a Friday, that could easily change Monday or Tuesday. Once it has a bill number, and formal text, then there will be something we can ask our members of both the House and Senate to support.

I did note HR 5404, introduced by the same congressman, which would define the dollar as a fixed amount of gold. Give it a read. It might be a reasonable bill.

 

[Johnnybravo300]

They should make money out of skittles and in a pinch you could eat them if you had too. It makes sense to have money you can eat. Congress can pretty much invent any new thing they want since the constitution doesn't really matter anymore. That's just old out dated stuff anyway.