[delta7]

This Bill is still alive. The SMDL organization is working with members of Congress to pass this bill, and has helped pass this law with more than a dozen states.

https://www.soundmoneydefense.org/

[KarlInOhio]

No! Same rules for everyone. I should not pay more for a gold ETF than for physical ownership of gold. I should not pay more taxes on an industrial metal like copper than for gold. Stop picking this week's favorite.

However, gold shouldn't be in the higher tax collectible category vs. normal capital gains like most investments.

[Myrddin]

That would be a great bill if it passes. Metals like stocks carry a basis price. You're on the hook for taxation on the gain over the basis price. Oddly, you don't get a break if the price drops below the acquisition price. Not really equitable treatment. Not having to track the basis price would be a nice change.

The really annoying detail is that a "capital gain" on a precious metal is really a currency debasement. You're being taxed on the devaluation of your currency against the stable value of the precious metal. The government screws you twice.

[TexasGator]

“This Bill is still alive”

>> Latest Action: House - 05/07/2024