Practically speaking, eliminating taxes on the sale of gold and silver cracks open the door for people to begin using specie in regular business transactions. This marks an important small step toward currency competition.
The post Mississippi House and Senate Pass Bills to Take Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.
This week, two bills that would make a sales tax exemption on the sale of gold and silver bullion and coins passed their respective House and Senate committees. Passage into law would relieve some of the tax burdens on investors, and would also eliminate one barrier to using gold and silver in everyday transactions, a foundational step for people to undermine the Federal Reserve’s monopoly on money.
The post Mississippi House and Senate Committees Pass Bills to Take Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.
The legislation would exempt from sales tax the sales of platinum, gold, and silver bullion that are valued solely upon their precious metal content, whether in coin or ingot form. This also includes numismatic coins that have a value of $1,000 or less, and numismatic coins sold at a national, statewide, or multi-county numismatic trade show.
The post Mississippi Bill Would Take Step Toward Treating Gold and Silver as Money first appeared on Tenth Amendment Center.