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Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label idaho. Show all posts
Showing posts with label idaho. Show all posts

Thursday, May 11, 2017

Arizona officially removes taxation on gold and silver purchases and sales

On May 10 the Arizona state legislature completed its approval of Bill 2014 which removes the state taxation on the sale and purchase of physical gold and silver.

This move is also the first step by the state to once again recognize gold and silver as Constitutional money, and to begin the process towards one day allowing the precious metals to be used in commerce within its borders.

Arizona also joins Utah, Idaho, Texas, Oklahoma, and Virginia in either proposing or passing legislation to work towards the legalization of gold and silver as money.

Sound money advocates scored a major victory today when the Arizona state senate voted 16-13 to remove all income taxation of precious metals at the state level. The measure heads to Governor Doug Ducey, who is expected to sign it into law. 
Under House Bill 2014, introduced by Representative Mark Finchem (R-Tucson), Arizona taxpayers will simply back out all precious metals “gains” and “losses” reported on their federal tax returns from the calculation of their Arizona adjusted gross income (AGI). 
Dr. Ron Paul noted, “HB 2014 is a very important and timely piece of legislation. The Federal Reserve’s failure to reignite the economy with record-low interest rates since the last crash is a sign that we may soon see the dollar’s collapse. It is therefore imperative that the law protect people’s right to use alternatives to what may soon be virtually worthless Federal Reserve Notes.” - Goldseek

Tuesday, March 14, 2017

Idaho follows Arizona this month in voting to eliminate state taxes on gold and silver purchases

With the growing expectations of a possible collapse in the dollar and other fiat currencies thanks to the nation's $20 trillion in debt, and the upcoming debate over increasing the debt ceiling, the Idaho legislature on March 14 voted overwhelmingly to eliminate capital gains and sales taxes on the buying and selling of gold and silver.

In a vote of 56-13, Idaho's legislative body joins that of Arizona who last week also voted to remove state taxation from the Constitutional monetary metals, and systematically declared that gold and silver are no longer simply commodities, but actual legal tender.

By an overwhelming 56-13 margin, the Idaho House of Representatives today voted to end all Idaho taxation on precious metals, e.g. gold and silver coins and bars. 
Bill sponsor Representative Mike Moyle (R) and the entire Republican caucus voted for the measure. If the Republican-controlled Idaho Senate follows suit and Governor Butch Otter (R) signs the bill, Idaho citizens will better be able to use gold and silver as a form of savings which protects against ongoing devaluation of America’s currency. 
Backed by the Sound Money Defense League, Idaho Freedom Foundation, Money Metals Exchange, and grassroots activists, HB 206 expands Idaho’s existing sales tax exemption to end Idaho income taxation of sales of “precious metals bullion” and “monetized bullion.” - Money Metals

Sunday, February 26, 2017

State of Idaho joins Utah and Arizona in forging legislation to recognize gold and silver as money

Earlier this year, the states of Utah and Arizona both proposed legislation to eliminate state taxes on the buying and selling of gold and silver in a first step initiative to have them once again recognized as money and legal tender.  Now on Feb. 24 we can add the state of Idaho to the mix as the growing trend towards returning to sound money is starting to pick of steam.

A bill introduced in the Idaho House would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency. Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money. 
House Majority Leader Mike Moyle introduced House Bill 206 (H206) on Feb. 23. The legislation would amend Idaho revenue statutes, providing “that capital gains and losses on precious metals bullion and monetized bullion sales be added to or subtracted from Idaho taxable income.” 
The Framers of our nation established that gold and silver are money, but federal taxing authorities in recent decades have required taxpayers to pay taxes on this form of money when its exchange for Federal Reserve Notes results in nominal capital “gains.” 
Similar to a bill recently passed by Arizona’s state House, Idaho H206 is a pure and tax neutral proposal. That’s because both precious metals gains (income) and losses are backed out of the calculation of one’s Idaho taxable income.   While HB206’s passage will have little fiscal impact as to Idaho tax revenues, it will have a larger impact on Idahoans’ freedoms. 
Enjoying the backing of the Sound Money Defense League, the Idaho Freedom Foundation, and Money Metals Exchange (an Idaho-based national precious metals dealer), the Idaho proposal seeks to correct the misclassification of precious metals by the IRS as “property” rather than money.  It is only because of this misclassification in the first place that precious metals income and losses are included in the federal adjusted gross income number that flows through to the taxpayer’s Idaho tax return. - Tenth Amendment Center