Stefan Gleason, Money Metals president and director of the Sound Money Defense League, joined Tom Bodrovics on Palisades Gold Radio to discuss state and federal legislative efforts in 2023, particularly efforts to remove all taxation from the purchase, sale, and use of precious metals.
Sound money forces have won five legislative victories so far this year (Mississippi, Louisiana, Arkansas, Tennessee, and Florida), with sound money bills in Oregon, North Carolina, New Jersey, and Wisconsin still awaiting further action.
The act of taxing the purchase of precious metals is becoming a particularly unusual practice, with 43 states having already removed their sales taxes.
Meanwhile, six of the 43 exemptions still provide for taxation of smaller purchases, i.e. Massachusetts, New York, Maryland, Connecticut, Florida, and California. Unfortunately, California raised its threshold this year, meaning only gold and silver purchases of $2,000 or more are now tax-free, increased from $1,500.
Stefan and Tom also discuss the galling display of political partisanship in the recent battle to end sales tax on the purchase of sound money in Maine.
Finally, the two discuss Congressman Alex Mooney's pro-sound money federal efforts, including his bill to audit America's gold reserves, restore a gold standard, as well as prevent the Federal Reserve from pursuing a tyrannical, China-style central bank digital currency (CBDC).
Time Stamp References:
0:00 - Introduction
0:50 - State Tax Reform
5:30 - Sales Tax Exemptions
12:23 - Partisan Politics
15:06 - Threshold States
22:43 - Sales & Use Taxes
25:16 - Taxation Reasons
29:45 - Dollar Re-Peg?
35:33 - Treasury Gold Audits
37:59 - Secrecy & Gold Holdings
39:40 - FedNow Purpose
44:47 - Digital Gold
49:47 - Concluding Thoughts
About the Author:
Stefan Gleason is President of Money Metals Exchange, the company recently named "Best Overall Online Precious Metals Dealer" by Investopedia. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC and in hundreds of publications such as the Wall Street Journal, TheStreet, and Seeking Alpha.