Arizona state Rep. Mark Finchem (R-Tucson) sponsored a bill that would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency. During a Senate committee hearing on his sound money bill, Finchem pointed out that “buying” silver and gold is really nothing more than an exchange of one type of currency for another. Passage of House Bill 2014 would eliminate the penalty for that exchange, encouraging the use of gold and silver as money.

WATCH IT

So, where does that penalty come from? Inflation, as Finchem graphically illustrates. asserting that there has been “this quiet theft going on over time…” he said.

Governments actually take advantage of this theft. Capital gains taxes on gold and silver simply turn inflation into a taxable event, categorizing it as a “gain.”

Finchem goes on to explain that Federal Reserve notes (dollars) really represent a federal government debt.

“So to assume you have been carrying the debt for the federal government for however long, and you move that into real property (silver or gold), that you should suffer a tax consequence for that exchange of currency authorized by the U.S. Constitution, minted by the U.S. mint or printed by the Federal Reserve – until you extinguish that debt, you remain the carrier of debt.”

Mike Maharrey

The 10th Amendment

“The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”

LEARN MORE

01

Featured Articles

On the Constitution, history, the founders, and analysis of current events.

featured articles

02

Tenther Blog and News

Nullification news, quick takes, history, interviews, podcasts and much more.

tenther blog

03

State of the Nullification Movement

232 pages. History, constitutionality, and application today.

get the report

01

Path to Liberty

Our flagship podcast. Michael Boldin on the constitution, history, and strategy for liberty today

path to liberty

02

Maharrey Minute

The title says it all. Mike Maharrey with a 1 minute take on issues under a 10th Amendment lens. maharrey minute

Tenther Essentials

2-4 minute videos on key Constitutional issues - history, and application today

TENTHER ESSENTIALS

Join TAC, Support Liberty!

Nothing helps us get the job done more than the financial support of our members, from just $2/month!

JOIN TAC

01

The 10th Amendment

History, meaning, and purpose - the "Foundation of the Constitution."

10th Amendment

03

Nullification

Get an overview of the principles, background, and application in history - and today.

nullification