Tax-Free Gold and Crypto?

Set the money free and let the market decide… February 14, 2022 [UNSUBSCRIBE]( | [WEBSITE]( [Altucher Confidential] It’s come to our attention that you might be missing out on extra benefits exclusively for Altucher Confidential subscribers. Check out our website where you can find archives, updates, and everything else included in your subscription. You can access it by [clicking here now](. “Set the money free from nonsensical taxes and red tape and let the people decide what they want to buy, spend, and save. The latest bills are a step in the right direction.” [HERO IMAGE] Tax-Free Gold and Crypto? By Chris Campbell Attention! Before You Read Any Further… [Read more here...]( Hey, it’s James. Before you read any further in today’s issue, an urgent situation needs your immediate attention. If you don’t plan on claiming this upgrade to your Altucher’s Investment Network subscription, you’re missing out on a huge opportunity. Right now is your chance to grab one of the biggest (and most valuable) upgrades our company has ever made to a newsletter. I’m taking Altucher’s Investment Network to an entirely new level and I’d hate to see you left behind. [To see how to claim your upgrade, just click here now.]( Upon writing, 42 states have removed in part or all taxes from the purchase of gold and silver. Furthermore, there are new bills pending in five of the eight remaining states — Tennessee, Mississippi, Kentucky, Hawaii, and New Jersey. This year, for example, Delegate Pritt has introduced House Bill 3135 to [eliminate capital gains taxation]( on precious metals and reaffirm gold and silver as money in the state. A similar effort is being considered in Olympia, Washington. Introduced last session by Rep. Chase, House Bill 1417 seeks to [remove all forms of taxation on the metals.]( Why, you ask? Well, states are beginning to realize that imposing taxes on silver and gold makes zero sense. JP Cortez of [Money Metals]( offers several reasons why. These stick out: States generally don’t tax the purchase of investments. States don’t slap sales taxes on the purchase of stocks, bonds, ETFs, currencies, and other financial instruments. Gold and silver are held as forms of savings and investment. So taxing precious metals penalizes a single class of savers and investors. Taxing precious metals actually reduces a state’s tax revenues. A Michigan analysis revealed that the sales tax revenue extracted was actually exceeded by revenue lost from conventions, businesses, and economic activity driven out of the state. And states with sales taxes on precious metals are at a competitive disadvantage to neighboring states that have ended the practice. Similar points can be made for crypto transactions, too. And lawmakers are beginning to make them. IMPORTANT UPDATE FROM JAMES ALTUCHER [Click here for more...]( media will blame the volatile markets on anything from the coronavirus to inflation… [But something more sinister is causing them to swing up and down…]( One former hedge fund manager claims it has everything to do with the computers on Wall Street… [He explains everything in his short video here.]( Crypto Tax Bills Last week, Missouri State Representative Phil Christofanelli introduced a [bill]( that would exempt cryptocurrencies from state property taxes. In Tennessee, Democratic Representative Jason Powell introduced a [bill]( that would create a blockchain and cryptocurrency subcommittee to: Help determine how to make [Tennessee] the most forward-thinking and pro-business state for cryptocurrency and blockchain and to foster a positive economic environment for blockchain and cryptocurrency. Also last week… Legislation was reintroduced to Congress by a bipartisan group of lawmakers called the Virtual Currency Tax Fairness Act of 2022. This bill would exempt in-person transactions involving digital assets as long as the gains are $200 or less. And, finally… Arizona State Representative Wendy Rogers [introduced]( a slew of crypto-related bills, including [one]( that would add BTC to the state’s list of things defined as legal tender. Here’s one way to look at it… The economist F.A. Hayek argued that the market should decide what money is — not a government monopoly. He suggested that in competitive private markets, private currency issuers would compete to maintain the value of their currencies. Those who were less reliable or effectively stole from their customers would be driven out of the market. I agree. All over the world, people are searching for alternatives — whether it’s gold, bitcoin, silver, or ethereum. Politicians are paying attention As the old, top-heavy systems buckle under their own weight Set the money free from nonsensical taxes and red tape and let the people decide what they want to buy, spend, and save. The latest bills are a step in the right direction. [Ed. note: FYI, James just released a quick new video on how to make up to $167 in free crypto… and get in on the cryptos with the greatest potential in the coming months and years. [Click here to check it out]( Until tomorrow, [Chris Campbell] Chris Campbell For Altucher Confidential This “Metaverse Mistake” Could Cost You A Fortune [Click here for more...]( Magazine says it’s “arguably as big a shift as the telephone or the internet.” Which is why the biggest companies in the world are jumping in with both feet. Facebook. Apple. Microsoft. But I’m afraid most folks are making one simple mistake. And if you’re not careful, it could stop you from profiting off the biggest opportunity in the last generation. 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