SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 445.60-10.1%Jan 30 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Snowshoe who wrote (64876)7/25/2010 7:28:27 PM
From: Follies8 Recommendations  Read Replies (3) of 219926
 
I see some folks around SI are fussing about the new USA tax reporting on gold coin sales. What were they thinking when they bought all that gold? That they could sell it and not pay the capital gains tax? Most everyone in USA wants free wars, roads, healthcare, retirement, etc but no one wants to pay the taxes!

First of all the reporting is not specific to gold, it is any business selling $600.00 of more to another business. So any landscaping company that purchases a $700.00 lawn mower from Home Depot is required to send HomeDepot a 1099. That's absurd.

Second, even if it was specific to gold there is the question of privacy, why shouild the government know who purchased gold (or guns)? to confiscate them?

Third, there is no gain with capital gains, it is a result of the devaluation of the currency. Why should we be required to pay gains that are purely the result of the debasement of the currency by the government?

Fourth, I am very willing to pay for wars, roads , my healthcare and my retirement. But clearly I am being asked to pay for others healthcare and retirement and I am not talking about the poor, I am being asked to pay for outrageous healthcare and retirement packages for government employees who have significantly better packages than the private sector. That is wrong.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News