Secret Gold Coin Tax Slipped Into Health Care Law...

derryb · July 21, 2010 1:02AM

been discussed here plenty, finally shows up on drudge report:

Fixed linky

gsa1fan · July 21, 2010 1:04AM

Let me tell you how it will be;
There's one for you, nineteen for me.
'Cause I’m the taxman,
Yeah, I’m the taxman.

Should five per cent appear too small,
Be thankful I don't take it all.
'Cause I’m the taxman,
Yeah, I’m the taxman.

(if you drive a car, car

- I’ll tax the street;
(if you try to sit, sit

- I’ll tax your seat;
(if you get too cold, cold

- I’ll tax the heat;
(if you take a walk, walk

- I'll tax your feet.

Taxman!

'Cause I’m the taxman,
Yeah, I’m the taxman.

Don't ask me what I want it for, (ah-ah, mister Wilson)
If you don't want to pay some more. (ah-ah, mister heath)
'Cause I’m the taxman,
Yeah, I’m the taxman.

Now my advice for those who die, (taxman)
Declare the pennies on your eyes. (taxman)
'Cause I’m the taxman,
Yeah, I’m the taxman.

And you're working for no one but me.

Taxman!

The Beatles

mhammerman · July 21, 2010 1:08AM

Try this one

carew4me · July 21, 2010 5:52AM

Elections have consequences.

Kip · July 21, 2010 6:15AM

I will just buy more silver

fishcooker · July 21, 2010 6:37AM

What good will buying $600 of silver, instead of gold, do?

roadrunner · July 21, 2010 6:59AM

You buy $599 in silver from one dealer only. Then another $599 from a second. And when it's time to sell some, you reverse the process. Though I'd probably pick $550 so it didn't seem I was trying to skirt the $600 line in the sand.

roadrunner

mhammerman · July 21, 2010 7:15AM

"Elections have consequences."

Yeah, maybe next time folk will pay attention...this thing ain't on autopilot you know.

Kip · July 21, 2010 7:25AM

<< What good will buying $600 of silver, instead of gold, do? >>

My mistake. I thought gold was different from silver

EagleEye · July 21, 2010 7:49AM

This is the same $600 reporting requirement that was much discussed here months ago.

It seems ICTA has got the press to take notice of how it effects the gold market.

Rather than decry the politics of it (which was beaten to death a few months ago), we should be applauding ICTA for watching out for us and taking action. Or is that all anyone here wants to to is find some political angle to everything.

57loaded · July 21, 2010 7:55AM

should we convert our bullion to 1/10 ounce AGE's?

gsa1fan · July 21, 2010 8:07AM

ABC the BO network. Mission; to discourage the sheepie from actual hard assets!

OnlyGoldIsMoney · July 21, 2010 10:40AM

The shakedown continues. Stay tuned for further developments in the War on Prosperity.

mhammerman · July 21, 2010 11:46AM

I apologize to the forum for my comments that may be taken as political commentary, they certainly look that way in retrospect. Even biased statements have no place here and no, SM did not put me up to this. We can use our time and energy much more constructively and, in fact, we will need each others wisdom in order for us to best be positioned to weather our current times. That certainly doesn't mean we have to always agree but other than voting our conscience when we have the opportunity and sending money to causes we support, there is really very little that we can do about our situation.

Got Cash?

jmski52 · July 21, 2010 12:36PM

Greta reports that $7.1 Billion in US taxpayer aid goes to Pakistan and the rich elites that makeup the government in Pakistan pay no income taxes at all. There's about $7.1 Billion that the government could use to close the "tax gap".

It's not about politics, it's about bad government and bad law in general.

How is this relevant to coin collecting? As I said before, the coin collecting industry is about to get alot smaller.

TrustNo1 · July 21, 2010 4:25PM

A general PM tax is coming. They know no boundaries to ripping us all off one way or another.

AboutAg · July 21, 2010 9:23PM

<< How is this relevant to coin collecting? As I said before, the coin collecting industry is about to get alot smaller. >>

Ah, yes, because so many coin collectors will stop buying coins, because when they go to sell, if they choose to sell to a dealer rather than an individual, and they sell over $600, a tax form will be filed.

Perhaps this will affect the rare coin market slightly, but I'm guessing that those who buy rare coins are less likely to commit tax fraud (which is the type of person that is really most upset about the new law, as only people who commit tax fraud will pay higher taxes as a result). The bullion market, though, is a different story; I can see a lot of people (especially those from 'anti-gubmint' crowd) working on new ways to more easily sell amongst individuals (where the new reporting is not required).

AboutAg · July 21, 2010 9:24PM

<< A general PM tax is coming. They know no boundaries to ripping us all off one way or another. >>

The toilet paper industry must be reeling, too -- the new law requires reporting of sales of toilet paper over $600 too! Beware, a toilet paper tax must be on its way!

gsa1fan · July 21, 2010 9:26PM

<< 

<< A general PM tax is coming. They know no boundaries to ripping us all off one way or another. >>

The toilet paper industry must be reeling, too -- the new law requires reporting of sales of toilet paper over $600 too! Beware, a toilet paper tax must be on its way! >>

Please don't give them anymore ideas!

Secret Gold Coin Tax Slipped Into Health Care Law...

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