From Coin News:Congressman Ron Paul [R-TX] is seeking to end all taxes charged by federal, state and local governments on coins and bullion.
Rep. Paul introduced the Free Competition in Currency Act of 2011, H.R. 1098, in the United States House of Representatives on March 15, 2011.
The move to end the taxation is one of three parts to the bill and marks a continuation of an effort by Paul that can be traced back to previous Congressional sessions. Those attempts stalled, leaving Ron Paul little choice but to re-introduce the measures in the latest session of Congress.
If passed, the Free Competition in Currency Act would eliminate capital gains taxes on gold and silver coins which are levied at rates of up to 35% for short term and 28% for long-term. Also eliminated would be sales taxes charged by state and local governments on coin and bullion transactions......read on
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