Vermont Takes a Bold Stand for Financial Freedom By Working to Eliminate Sales Tax On Precious Metals
Elected officials in Vermont have recently introduced a bill that would repeal all taxes on precious metal purchases. JP Cortez of the Sound Money Defense League noted that this move comes “on the heels of overwhelming votes to remove all taxes from purchases of precious metals in Mississippi.”
The bill, House Bill 295, was introduced on February 21, 2023 and repeal sales taxes on large purchases of “rare coins of numismatic value, gold or silver bullion or coins, or gold or silver tender of any nation traded and sold according to its value as precious metal.”
Over the last two years, states such as Alabama, Ohio, Arkansas, Tennessee, and Virginia have passed legislation to implement or extend sales tax exemptions on precious metals in their respective states.
Earlier this week, the Mississippi State Senate and State House passed this exemption, putting Mississippi on the path to become the 43rd state to repeal this tax on sound money.
Though Vermont’s legislative proposal would only go into effect when “the sales are valued at $1,000 or more and that the first $1,000 of value shall remain taxable.”
Taking down the fiat industrial complex will not be easy. The uniparty in Washington DC is so firmly situated in power that any type of reform is unfeasible at the federal level. Instead, it will take pressure from the states to have DC change its fiat money ways.