Will PM's be taxed?

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Johnny Oxygen's picture
Johnny Oxygen
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Will PM's be taxed?

Recently on the thread: Obama Planning to Confiscate Gold?

A topic was touched on that I felt could be expanded on. What are the possibilities of the government taxing PM's to control it's challenge to fiat currency? By taxing I mean taxing them so heavily that the holder's values are diminished significantly enough that holding PM's has no advantage.

This could also be done with land, guns, ammo. Taxing to control any impediment. What are your thoughts?

 

earthwise's picture
earthwise
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Re: Will PM's be taxed?

 

While anything is possible, I think that the political calculation must be considered. To tax gold, guns ammo and land in addition to all the other controversial actions (Health care, bailouts, wars, corruption) that the government is currently involved with, would be very difficult politically, if not impossible. I would imagine using a meltdown or some other crisis to justify these things would backfire. At some point the sheeple would scatter rather than follow blindly to the slaughter. Just my opinion.

ao's picture
ao
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Re: Will PM's be taxed?

As I stated previously, I think there's a good chance they will increase the tax on the profit from precious metals, and maybe even institute a tax on their purchase (which would definitely slow the flow of funds into this asset class which is what they want).  Since the vast majority of the U.S. population does not hold PMs, the political fallout for such an act will be minimal.  We can yell and scream all we want but we're a very small minority with no voting clout.

I think a tax on guns and ammo is just as likely but here, the potential political repercussions will be greater.  The NRA has a lot of clout and there are far more gun owners than PM owners in the country.  Also, as Mao recognized, "Political power grows out of the barrel of a gun", so if the government is too extreme in these actions too suddenly, they risk playing with dynamite.

I think an increase in property taxes is inevitable given the widespread and growing state budget shortfalls but it will be phased in gradually to achieve the boil the frog effect.  There may be significant political fallout from this act as well but if we, as a populace, haven't become completely outraged with the massive wealth transfer that's occurred so far, it seems that we will continue to go bleating softly to the slaughter for quite a while longer.

As has been said many times before, there are essentially only two ways out of this monetary dilemma, inflate or tax, and they will be doing both, in spades.

   

earthwise's picture
earthwise
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Re: Will PM's be taxed?

 

ao wrote:

I think an increase in property taxes is inevitable given the widespread and growing state budget shortfalls but it will be phased in gradually to achieve the boil the frog effect.

Here in California the politicians are prevented from raising property taxes by Proposition 13, also known as the taxpayers revolt, that was passed back in the '70s. Sometimes try as they might, the frog jumps out no matter how slowly one tries to boil him.

jh355's picture
jh355
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Re: Will PM's be taxed?

It would be advantageous to get your mind around this concept;

Would you willingly pay a tax for exchanging $100.00 FRNs for two $50.00 FRNs?  If you answer is No, congratulations.  Don’t let their voluntary Tax schemes drag you into believing something that isn’t so.  Gold and Silver are our constitutional Money, FRNs are currency (legal tender) (tender is not Money it’s a Note).  They had to create Legal Tender Laws in order to force us to use their currency.  Gold was taken (read stolen) from us (made illegal) in order to Force us to accept their Fiat.  Now that their scheme is ripping apart at the seams, they have to figure out a way to prevent all the slaves from escaping with what they believe is Their money, don’t fall for it this time like our grandfathers did in 1933.

ao's picture
ao
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Re: Will PM's be taxed?
jh355 wrote:

It would be advantageous to get your mind around this concept;

Would you willingly pay a tax for exchanging $100.00 FRNs for two $50.00 FRNs?  If you answer is No, congratulations.  Don’t let their voluntary Tax schemes drag you into believing something that isn’t so.  Gold and Silver are our constitutional Money, FRNs are currency (legal tender) (tender is not Money it’s a Note).  They had to create Legal Tender Laws in order to force us to use their currency.  Gold was taken (read stolen) from us (made illegal) in order to Force us to accept their Fiat.  Now that their scheme is ripping apart at the seams, they have to figure out a way to prevent all the slaves from escaping with what they believe is Their money, don’t fall for it this time like our grandfathers did in 1933.

How do you propose "not falling for it"?

 

jh355's picture
jh355
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Re: Will PM's be taxed?

In short;

Don’t give them what’s constitutionally yours, inalienable rights can’t be “taken” away; you have to voluntarily give them away.  Knowing the difference won’t stop someone from asking you for them, and maybe even at the end of a gun (be mentally prepared to know the differences).  Resistance is what keeps our Republic together, it's the weight on the other end of governmental power.  

Inalienable Rights (blacks 6th);

Rights which are not capable of being surrendered or transferred without the consent of the one possessing such rights; e.g. freedom of speech or religion, due process, and equal protection of the laws. Morrison v. a State, Mo. App. 252 S.W. 2d 87, 101.  See Bill of Rights.

ao's picture
ao
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Re: Will PM's be taxed?
jh355 wrote:

In short;

Don’t give them what’s constitutionally yours, inalienable rights can’t be “taken” away; you have to voluntarily give them away.  Knowing the difference won’t stop someone from asking you for them, and maybe even at the end of a gun (be mentally prepared to know the differences).  Resistance is what keeps our Republic together, it's the weight on the other end of governmental power.  

Inalienable Rights (blacks 6th);

Rights which are not capable of being surrendered or transferred without the consent of the one possessing such rights; e.g. freedom of speech or religion, due process, and equal protection of the laws. Morrison v. a State, Mo. App. 252 S.W. 2d 87, 101.  See Bill of Rights.

So Japanese-Americans voluntarily "gave away" their rights during World War II?

 

poisonivy113's picture
poisonivy113
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Posts: 81
Re: Will PM's be taxed?

If enough people are  buying/using something, the government always taxes it! 

Witness phone, cable TV, internet service- none of these things were taxed initially, but after enough people started using them, they were. 

Gains from PM are already taxable, but since purchases of PM can be difficult to trace, you better believe that the government will find ways to make taking money from people who profit from PMs much easier if they feel enough profit is made to make enforcement worth the profit. 

Never underestimate the will of the government to stick it's hands very deeply into your pockets in order to continue it's wasteful spending!

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