Peter was recently featured on Real America hosted by Dan Ball.
It’s no secret that the government has been spending more than it collects, and there are indications that the Biden administration is addressing this issue.
In this week’s Friday Gold Wrap Podcast, JD and Joel discuss recent gold price action and market news. They also cover last Friday’s non-farm payroll numbers, the strike on Houthi rebels, and the SEC’s fumble with Bitcoin ETFs.
The tax man cometh!
And thanks to the Democrats in Congress, there will be more tax enforcers shining their lights into the nooks and crannies of Americans’ finances.
Rapidly rising prices put the squeeze on everybody’s wallets. A recent study showed that inflation is hitting rural Americans particularly hard. According to the Iowa State University report, people in rural areas now spend 91% of their income on expenses alone. Peter Schiff recently appeared on Rob Schmitt Tonight to talk about the pain of the inflation tax.
On July 1, a Virginia law extending and expanding a sales tax exemption on the sale of gold and silver bullion and coins went into effect. Ending the sales tax will relieve some of the tax burdens on investors, and take a step toward treating precious metal bullions as money instead of a commodity.
Everybody was thrilled to get stimulus checks in the mail during the COVID-19 pandemic. “It’s free money!” many exclaimed. But nothing in life is free. This includes “free” things handed out by the government.
So today, you’re paying for those stimmy checks and the government pandemic spending spree.
In January, the US Treasury realized its first surplus in 2.5 years.
The surplus was short-lived.
The Treasury went in the red by $216.6 billion in February.
Peter Schiff recently appeared on the Matt Walsh podcast. During the interview, he broke down exactly how the Federal Reserve and the US government team up to hit you with an inflation tax.
So, last Monday was tax day.
Ouch!
I don’t know about you, but I had to write a big check. But I took solace in the fact that I’m helping create a more civilized society!
Arkansas Gov. Asa Hutchinson recently signed a bill into law exempting gold and silver bullion and coins from sales tax. This will not only relieve some of the tax burdens on investors in the state; it will also take a step toward treating gold and silver as money instead of as commodities.
