Discussion in 'Bullion Investing' started by Kevin wu, Jan 4, 2020.
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state capital gains, but you still owe Federal capital gains.
Ye I guess .
Where the IRS is involved, talking to a CPA and/or an attorney is much better than guessing.
nah i just want see if i want to move to lower tax state befor i sell my PM .
The Constitution says the Congress has the right to "coin money and set the value thereof".
Money "used" to be tied to a gold standard...th exchange rate being set by Congress. Over the years, the relationship of the Dollar to gold or silver has changed from time to time. Some coins used "arrows" to signify a different weight. In 1933, gold was even confiscated prior to a revaluation of the gold standard.
In each case, the revaluation of money only affected "new" money. Money that had already been issued retained it's "at issue" value.
Today, currency (old and new) is revalued daily as the Fed manipulates the money supply. This dynamic devaluation of the Dollar over time (inflation) creates an artificial capital gain (in Dollar terms)...which is a wealth tax.
I sometimes wonder how this is even Constitutional.
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