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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 07/01/2009 : 16:36:37
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Co-sponsors of this bill:
Sen Ensign, John [NV] - 6/25/2009
Sen Reid, Harry [NV] - 6/25/2009
Sen Risch, James E. [ID] - 6/25/2009
I have read that the same legislation was proposed in the last congress and it went nowhere. This legislation has been referred to Senate Committee. If passed in its current form, American Gold, Platinum, and Silver Eagles; .999 fineness gold, silver, platinum, and palladium bullion bars and rounds would no longer be considered collectibles. Collectibles are taxed at a minimum 28% tax rate, no matter if held long or short term. Non-collectibles are taxed at ordinary income and long term capital gain (held more than one year) rates (15%). I do not know how junk silver would be categorized at this time.
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The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 07/01/2009 : 16:41:22
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| Hmmm, I wonder what Nevada and Idaho have in common that they would want less taxes on bullion. Hmmmm.... |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Fair Treatment for Precious Metals Investors Act
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