Wisconsin Legislature Hears Bill to End Taxation on Sound Money
Wisconsin Legislature Hears Bill to End Taxation on Sound Money by Jp Cortez for Sound Money Defense League
Introduced by Representative Shae Sortwell (R-Two Rivers), the Wisconsin State legislature will consider a measure that removes sales and use tax against gold and silver coins and bullion.
Representative Sortwell introduced the measure on the anniversary of President Franklin Roosevelt’s gold confiscation 86 years ago. “On April 5th, 1933, President Franklin Roosevelt made the disastrous decision to confiscate individuals’ private gold holdings through Executive Order 6102. American citizens were forced to turn in their gold under the threat of ten years in prison. Shortly after, the price was arbitrarily raised over 50%, a shocking theft of wealth from the American people.”
Rep Sortwell continues, “Wisconsinites ought to have the choice and freedom to use alternative currencies and money without being taxed for it — and this bill would put our precious metal sellers on an even playing field with our Midwest neighbors.”
Policies that discourage precious metals ownership reduce the likelihood that Wisconsinites will take steps to insulate themselves from the inflation and financial turmoil that flows from the Federal Reserve system. Current Wisconsin law provides a disincentive to protect against economic disruption in the form of gold and silver – a disincentive that is removed by this bill.
This measure is one of many sound money bills being introduced across the country this year. Wyoming considered several sound money measures to hold some of the state’s funds in the metals. Bills to remove taxation on sound, constitutional money have been introduced in Tennessee, West Virginia, and Maine, to name a few.
Backed by the Sound Money Defense League, these measures protect Wisconsin citizens by removing barriers to insulating their wealth with the only money proven to protect against the Federal Reserve Note’s ongoing devaluation.