Gold might glitter, but it’s still money. Taxes should treat it that way

Gold continues to shine, reaching a new all-time high. Net exchange rates from around the world converge at the confluence of the dollar’s reserves, while stocks favoring gold inflation, Always increasing the price of safe precious metals.

But there is one factor that continues to darken the luster of gold: it Tax processing.

Gold has always been money, both as a store of value and sometimes as medium transactions, about 5,000 years. It increasingly plays a role in protecting your income from the reduced inflation rate generated by adverse governance Dollar and other fiat currencies. However, gold is not treated for tax purposes, such as holding USD cash or even the U.S. Treasury. Its tax treatment is not even stocks or cryptocurrencies. It is considered a collectible and has a high tax rate for many holders.

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Precious metals, including gold, are characterized by IRS as collections. The same is true for exchange-traded funds (ETFs), which are physically backed by gold or other precious metals. It’s a bit like a gripping tool for why collectibles store different tax treatment than other values ​​or assets, or why any precious metal used as goods and havens instead of for their rarity (e.g., rare coins) is considered a tax on collectibles (e.g., rare coins) rather than seeking tax metals.

The gold bars were displayed at Shinhan Bank in Seoul on January 9, 2004. (Jung Yeon-Je/AFP via Getty Images)

For collectibles, the highest tax rate for long-term capital gains is 28%; these 8 percentage points high tax rate equals 20% of long-term capital gains on assets such as stocks, real estate and Bitcoin. The rate you pay in person depends on your marginal income tax range. (Short-term income is considered ordinary income.)

For high-income earners, you may also be hit by a 3.8% net investment income tax (NIIT) as part of the Affordable Care Act. Some states will also impose more taxes on sales growth for precious metals and their ETF agents.

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The U.S. government and Fed Always be brave about your money – abandoning their responsibility to protect the value of the dollar, which means protecting the purchasing power of the money you make. For example, if you want to try to eliminate this effect by holding some gold or silver, for example, you should not be punished when you want to use alternative money for purchases. You certainly should not receive a fine that exceeds the stock earnings.

So, why tax gold? Well, taxes are a repressive effect – that is, you want less tax. The government does not want you to invest in gold because it will tie your money. This means you don’t lend it to the government. This means you don’t invest in stocks you may be in and out and generate more taxable profits to increase government revenue. They want your funds to flow through the economy in a way that can withdraw benefits for themselves. In the long run, choosing gold means they won’t benefit.

Or maybe it’s just bad policy, it’s time for it.

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For whatever reason, it’s time to create a win-win situation for American citizens and government. The Broken Fiscal Foundation in the United States deals with an increasing number of citizens, more than $37 trillion in debt, GDP as a percentage of GDP at wartime or recession time levels.

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We know India and Chinese family It has a large amount of gold (estimated at 27,000 tons and 20,000 tons, respectively). While there are no reliable estimates for American households, the survey shows that the vast majority of our households do not have gold at all – some estimates that would lack ownership are estimated at about 89%-90%.

The U.S. government and the Fed are even more fanatical about your money – abandoning their responsibility to protect the value of the dollar, which means protecting the purchasing power of the money you earn.

Moreover, given that the U.S. government holds it based on its own account The largest government gold stock In a world of more than 8,133 tons, lowering taxes on gold will also benefit the United States.

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Lowering taxes on gold may lead gold to a higher valuation. Given that gold on the U.S. balance sheet is $42.22 per ounce, the rise in gold’s price to something more reflective of demand will allow the government to write out the price of gold on its balance sheet and use the differences to fund our flaws, at least for a while – while allowing people to have a certain fence that allows people to balance certain inflationary effects.

The President wants to create A new golden age, One of the easiest ways is to make it a true “golden age” by allowing fair treatment of gold and other precious metals.

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