I have some good news.
House Bill 2684, our Sound Money bill introduced by Delegate Pat McGeehan (R-1), would recognize precious metals as money and exempt them from state taxation.
I need your help to push it through the state House and Senate.
Currently, West Virginia burdens you with sales and capital gains taxes if you buy or own precious metals.
But since money itself is not taxed, it only stands to reason you should not be taxed when you trade one currency for another, or when your gold or silver “increase” in value.
The truth is, precious metals can help protect you against the continued devaluation of Federal Reserve Notes (also known as “dollars”).
The “increase” you see in the value of your gold or silver is actually a result of the Federal Reserve printing more dollars.
This flood of new dollars in the marketplace causes a decline in the purchasing power of the dollar, or “inflation.”
While at times of serious inflation it appears your gold is worth more money, it still has the same purchasing power as it did before.
Yet, West Virginia currently considers that “increase” a capital gain, and they charge you a capital gains tax as a result.
This unjust taxation on real money must end!
It’s just one more example of government officials picking winners and losers in the marketplace by punishing citizens who choose to use currencies that compete with the dollar.
The good news is House Bill 2684 would change that!
But you and I only have a short time to force it through the state legislature and onto the governor’s desk.
And once you have signed our petition, I need you to contact Delegate Eric Householder (R-64) at 304-340-3230.
You see, Delegate Householder is the Chair of the Finance Committee in the State House of Delegates. Whenever a bill like HB 2684 is introduced, it is assigned to a committee.
And unless the Chair of the Committee puts the bill on the agenda, we will never even get a vote on the bill.
It will simply just die.
So it is vital that you call Delegate Eric Householder at 304-340-3230 and tell him he must allow a vote on House Bill 2684.
By exempting precious metals from taxation, West Virginia legislators will help ensure you are able to survive the next inevitable recession caused by the Federal Reserve.
Not only that but HB 2684 takes a major step toward ending the Federal Reserve’s monopoly on money, a very important issue for Campaign for Liberty.
It does so by ensuring you aren’t punished for choosing to invest in one currency (precious metals) over another (dollar bills).
HB 2684 would allow you to protect yourself, your family, and your business from the ill effects of Federal Reserve policy.
The use of fiat money is finally coming to its invaluable and unavoidable end.
By passing HB 2684, West Virginia legislators would ensure you have the ability to protect yourself from the reckless actions of Congress and the Federal Reserve.
And the tax exemption will allow you to keep more of your hard-earned money.
So please sign your petition right away demanding your state legislators actively support and vote “YES” on HB 2684, and then, call Delegate Eric Householder at 304-340-3230 and tell him he must allow a vote on House Bill 2684.
And please chip in a donation of $50, $30, or $10 to help Campaign for Liberty mobilize the grassroots on this very important issue.
Tags: Federal Reserve, gold, Sound Money, legal tender, precious metals, West Virginia