Arizona Governor Signs Bill to Repeal State Capital Gains Taxes on Gold and Silver

Arizona Governor Doug Ducey signed a bill into law that eliminates states capital gains taxes on gold and silver specie. This tax repeal will not only benefit Arizonans who invest in gold and silver, it will also facilitate their use as currency and undermine the Federal Reserve’s monopoly on money.

Currently, all debts and taxes in Arizona must be paid with either Federal Reserve Notes (dollars), authorized as legal tender by Congress, or with coins issued by the U.S. Treasury — very few of which have gold or silver in them.

But the United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.”

The Arizona law takes a step towards that constitutional requirement, ignored for decades in every state. Such a tactic would undermine the monopoly or the Federal Reserve by introducing competition into the monetary system.

Full article: https://schiffgold.com/key-gold-news/arizona-governor-signs-bill-repeal-state-capital-gains-taxes-gold-silver/

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