Ron Paul visited the Arizona state Senate Committee on Finance on Wed. March 8, 2017 to testify in support of what he considers a “very important” honest money bill, HB2014.
“If you want to have liberty and limit the size of government, you have to have honest money,” said Paul.
The proposed legislation would treat gold and silver as they should be under the Constitution – that is, as money. In doing so, the state would no longer tax “capital gains” on the exchange of federal reserve notes for gold/silver and vice versa.
“We ought not to tax money – and that’s a good idea. It makes no sense to tax money,” said Paul.
Passage into law would remove a major roadblock in the way of gold and silver being used by everyday people. As Paul noted, the legislation would be “legalizing competition in a constitutional fashion.”
The bill had previously passed the state House and after Paul’s testimony, passed the Senate committee by a 4-3 vote. It will now need to pass the Senate rules committee and the full Senate before heading to the Governor’s desk.
Similar legislation is up for consideration in 2017 in Maine, Idaho, Alabama, Texas, and elsewhere.
Thank you to the Arizona chapters of both the Campaign for Liberty and Tenth Amendment Center for all their work.