Gold is king... but taxes?

jlancaster · Apr 28, 2011

Quote from TD80:

If gold goes to 10k/ounce in the very near future under the context of inflation (i.e. everything hard asset-wise goes up proportionally not just a gold bubble), I dare say you won't need to be worried about taxes if you own physical, especially coins.

More...

I heard in Argentina people were buying cars as stores of value. They buy the car and keep it in the garage so that it doesn't lose value driving around.

Debaser82 · Apr 28, 2011

Quote from achilles28:

Yup. It's rumored some production jewelers can be amenable. Spot + small commish

Theoretically, one could always buy through traditional channels, then declare a sale, but not really dispose of it. Problem is, that's tax evasion which amounts to a big pile of trouble.

Here's another thought: why should we pay tax on profits made from investing after-tax income? It's bullshit. That's why it's so hard to build wealth - we're taxed up the ass. Everyone knows the most fragile stage of wealth creation is the beginning. The nest egg. And look how difficult it is to build that nest egg when half of it is siphoned off to the State and Federal Government to piss away! For every 2 dollars I make, they take one! And if I invest that dollar into 2, they take 25 cents! And that doesn't include all the "miscellaneous" taxes along the way to get there: property tax, sales tax, gas tax, excise tax. Lest of all, the inflation tax (currency debasement)! At the end of the day, if I make 3 dollars, the Government takes at least 1.50$. HALF. I took all the risk, provided all the capital, worked my ass off, and this leech of a partner who contributed absolutely NOTHING to my business takes HALF of everything I make. It's the mafia.

Why not reward savings through a consumption tax, since that's the genesis of all investment which creates wealth? Instead, it's totally backward. The Government is an enormous parasite that bribes us with one quarter of the money they take from us, then gives the rest to special interests who keep them elected. It's a gigantic cesspool of corruption. Yet, we must pay their shakedown money or they'll take everything we own and lock us up. That's mafia rules.
More...

I live in Belgium Europe, taxes are sky high I guess especially for Americans...

But we don't have capital gains taxes...neither on gold or stocks or anything...

And yet everyone keeps their money in cash...

People....

olias · Apr 28, 2011

Quote from Debaser82:

.

And yet everyone keeps their money in cash...

People....
More...

Agreed. we are a funny bunch

Log in or Sign up

Gold is king... but taxes?

jlancaster

Debaser82

olias