Georgia GOPer Pushes Bill For Taxes To Be Paid In Gold And Silver

[RamboLiberal]

Georgia state Rep. Bobby Franklin (R) has sponsored legislation to force the state to conduct all monetary transactions with U.S. gold or silver coins.

The "Constitutional Tender Act" argues that the Constitution "'provides that no state shall 'make any Thing but gold and silver Coin a Tender in Payment of Debts.'"

As such, the legislation continues:

Pre-1965 silver coins, silver eagles, and gold eagles shall be the exclusive medium which the state shall use to make any payments whatsoever to any person or entity, whether private or governmental. Such coins shall be the exclusive medium which the state shall accept from any person or entity as payment of any obligation to the state including, without limitation, the payment of taxes; provided, however, that such coins and other forms of currency may be used in all other transactions within the state upon mutual consent of the parties of any such transaction.

http://tpmdc.talkingpointsmemo.com/2010/12/georgia-goper-pushes-bill-for-taxes-to-be-paid-in-gold-and-silver.php?ref=fpa

[proud2BlibKansan]

1. Tea Party lunacy

This is going to be a fun 2 years.

[elocs]

2. I read about that here last Friday:

http://upload.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x97897

[applegrove]

3. Probably someone who has invested heavily in gold and silver and want to see it rise even more.

[DBoon]

5. or someone with lots of Krugerrands left over from the 1980s

nt

[Warren DeMontague]

4. Or, they could pay out in nuts.

Or loose screws.

[iamtechus]

6. Face value of the coins or the market spot price for the metal?

There are obvious problems with this scheme that make it ridiculous. :silly:

[Hardrada]

7. I'd take face value for the items I sell. Any time.

[no_hypocrisy]

8. You can't deposit gold and silver at banks and write a check against it.

Not to mention you have to pay taxes on the sale of gold and silver to convert it to United States legal tender. And the value fluctuates. How can you pay taxes on metal that's $1400 on Monday but $1385 on Tuesday?

[rasputin1952]

9. And watch all of the gold and silver disappear from the nation...

this idiot should be recalled and then sent to an asylum.

[ladjf]

10. This proposal is way out on the edge of lunacy. nt