Levy on gold could be budget windfall, U.S. lawmakers say
http://www.reuters.com/article/2012/...8NC5MT20121212
Interesting proposition, isn't it.
The gold bug in me says, "hell yeah, tax em, that only means my PM's will rise in value!"
but then the libertarian in me says "taxes are bad, mmkay."
Plus, something tells me this basically only means more FRNs conjured from thin air. Cant put it together, but taxes are not actual wealth creation, so all this would do is make more fake money, which in turn would cause PM's to rise even higher.
That's not nearly enough to be a "budget windfall." Why don't they just take the gold? Wouldn't be the first timeBut applying a metals levy of 12.5 percent - the benchmark government share for other resources - could deliver hundreds of millions of dollars a year to taxpayers
The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.
I am sure that is in the works, once they realize their toilet paper is worthless without it.Originally Posted by bxm042
Crooks want a balanced approach at stealing more money. Makes me want to puke.
Looks like they are speaking about federal lands. If it looks like this thing is going to pass, I will jump out of most of my mining stocks and stick everything into GTU and PHYS. Once they start, they won't stop.
Do you think the spike in price will make gold less or more attractive?
Like all plays, investors would have to count on the government's actions. In this case, the only pitfall would be the government stops the tax*, and the price suddenly plummets.
*AHHHH HAH HA HA HA HA HA HA HA HA HA HA HA!
Last edited by UWDude; 12-12-2012 at 08:02 PM.
The taxpayers should get royalties? The taxpayer won't see a dime.
No person , anywhere will get jackshit , from meFucking parasites. I guess they have not spent time in the Jungle, where it knows to leave the host and find a healthier one with more nutrients ...
lol. As if the mining industry wasn't under enough pressure with rising energy costs and lowering ore grades. Raising taxes is just going to raise their costs and ultimately dampen production (which in turn should constrain supply and lead to rising prices).
Edit: Just read the article more carefully. The proposal is for raising taxes on metals mined from Federal lands. I'm not sure how much impact that would have on mining companies.
Last edited by Bern; 12-13-2012 at 05:43 AM.
I compiled a "brief" history of events since October 2008 that are defining the global currency war and the role that gold is playing:
Tin Foil Hats, Economic Reality and the Total Perspective Vortex
Also, have you contacted your Congressional Rep and asked them co-sponsor Ron Paul's HR 1098: Free Competition in Currencies Act?
As if miner's share prices haven't been under enough pressure for the past couple of years.
"Power tends to corrupt, and absolute power corrupts absolutely." - Lord Acton
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." - Benjamin Franklin
"Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Government is not the solution to our problem; government is the problem." - Ronald Reagan
"The only thing we have to fear is fear itself, and we must reject those who spread fear." - B4L update of FDR
"The Ministry of Truth can turn on a dime, and the fury of the ignorant masses can be redirected at will." - B4L
"Marxists become Fascists the minute they become rich, yet they retain the Marxist rhetoric." - B4L
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Thing is, the world is full of a**holes." - ACPTulsa
Twitter: B4Liberty@USAB4L
Posting Permissions
Reply With Quote
