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 Replies: 16 / Views: 2,560 |
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Pillar of the Community
 United States
5828 Posts |
Quote:
You know how fast the Baltimore Whitman show would have been yanked had it passed? I know, right?! Ridicules. |
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Moderator
 United States
23522 Posts |
Philly's right up the road.  |
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Moderator
United States
189947 Posts |
That time would be measured in milliseconds at most.  I would not be surprised if a mouse pointer was hovering over a send button awaiting the news. |
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Bedrock of the Community
United States
12865 Posts |
Texas repealed its sales tax for PMs last year. The silly thing was, if you bought over $1k at a crack, there was no tax. $1k and under you paid tax.
Regardless, that law is gone, thankfully.
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Moderator
United States
23522 Posts |
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The silly thing was, if you bought over $1k at a crack, there was no tax. $1k and under you paid tax. There is no tax more regressive than the sales tax, disproportionally affecting those of lower income. Many states have this maximum level for taxing bullion purchases, and it's just another manifestation of money determining law rather than need. Keep in mind, exemptions for dealer-dealer wholesale purchases from sales tax are - as it should be - near-universal. Large exempt purchases at retail, which is what we're talking about here, is only about helping those with money keep that money. |
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Moderator
United States
189947 Posts |
Quote:
The silly thing was, if you bought over $1k at a crack, there was no tax. $1k and under you paid tax. Silly is not a word I would use. Criminal is what comes to mind and Dave explained why.  |
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Pillar of the Community
United States
1247 Posts |
in maryland, the law is, if you buy less then 1000, you pay sales tax, over 1000, there is not tax.
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Moderator
United States
189947 Posts |
Which is completely backwards.  |
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Pillar of the Community
Canada
5404 Posts |
Actually if you check with most economists and taxation specialists, consumption taxes are the most fair form of taxation around. All of us do not like taxes and/or what governments do with them. That said taxation is the price we all pay to live in a democratic and civilized society. The alternative is not pretty. In Canada there is NO tax on bullion and pure precious metals. There is a national sales tax (GST) on all other coin purchases and we have learned to live with it. The government is very serious about collecting it and indeed the chances of being audited for this rather than income tax are much higher. The trouble with coins and taxes in the USA is that they are inconsistent and applied quite differently from state to state. The majority of states do not collect taxes on numismatic purchases while some still do. The ANA sure takes state taxation in to its consideration where it holds shows. Also a previous post mentioned that the Baltimore show would disappear in a heart beat.........yup! |
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Moderator
United States
23522 Posts |
The tax which most proportionally impacts the poorest is the "most fair?" I don't think so. You argue on behalf of the rich.
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Bedrock of the Community
United States
17884 Posts |
Quote:The ANA sure takes state taxation in to its consideration where it holds shows. True, they were considering Indianapolis for their smaller show but dropped it because Indiana charges sales tax on coins. |
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Moderator
United States
189947 Posts |
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The tax which most proportionally impacts the poorest is the "most fair?" I don't think so. You argue on behalf of the rich. Consumption taxes can definitely be more fair than what we have now. Imagine the rich paying sales tax on their luxury cars and million dollar homes. There will have to be exemptions to help the lower income brackets. Food and clothing come to mind, but you would still need a way to make sure that tax still applies to haute cuisine and designer clothes. But I digress, this is not the venue. However, I can split/move it. |
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Moderator
United States
23522 Posts |
I won't follow if you split. That would lead to ripping and tearing, and our job is to build.
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Pillar of the Community
Canada
5404 Posts |
No SsuperDdave, I do not argue on behalf of the rich. Quite the contrary. A sales tax is very fair. Lets say two guys go car shopping and the tax rate is 10 per cent. First guy can only afford a second hand family sedan for 10 K and pays a thousand in taxes. Second guy buys a new Lambo for 250 K and pays 25 K in Taxes. Everyone pays the same rate based on what they can afford to purchase.
What is really regressive is INCOME TAX especially for the low to middle income earner and the SMALL business owners. You could argue quite successfully that with a NATIONAL SALES TAX of 10 per cent in the USA you could eliminate income taxes for all wage earners below 75000, a category I will bet a lot of people on this forum fall under. This taxation issue could be argued thoughtfully on both sides of the fence I am sure. One thing that cannot be argued is that the money has to come from somewhere if you wish to retain a free and democratic society.
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Moderator
United States
189947 Posts |
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I won't follow if you split. That would lead to ripping and tearing, and our job is to build. I understand. My comment was more of a way to get back on the topic directly. "Do as I say, not as I do."  |
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Posted 04/17/2015 5:58 pm
