{"id":26539,"date":"2019-05-30T05:12:35","date_gmt":"2019-05-30T12:12:35","guid":{"rendered":"https:\/\/goldco.com\/?p=26539"},"modified":"2022-01-24T18:12:22","modified_gmt":"2022-01-25T02:12:22","slug":"gold-defense-financial-transaction-taxes","status":"publish","type":"post","link":"https:\/\/goldco.com\/gold-defense-financial-transaction-taxes\/","title":{"rendered":"Gold as a Defense Against Financial Transaction Taxes"},"content":{"rendered":"

You may have heard about Bernie Sanders\u2019 latest idea to raise money. As part of his campaign for President he is floating the idea of taxing various financial transactions<\/a> in order to raise money for the federal government. The money raised would be earmarked to fund free college tuition and reduce student debt levels that continue to climb.<\/p>\n

The tax rates Sanders has floated are 0.5% for stock trades, 0.1% for bonds, and 0.005% for derivatives. It\u2019s somewhat ironic that the lowest-taxed trades are those that are mostly engaged in by professional traders, but that\u2019s really beside the point. Also somewhat beside the point is whether Sanders will actually gain as much revenue as he hopes to. What is clear is that financial transactions are coming under fire.<\/p>\n

Proposals of this sort aren\u2019t new in Congress. Former Congressman Chaka Fattah, now serving 130 years in prison for committing various federal crimes<\/a>, was one of the foremost sponsors of these types of financial transaction taxes in previous years. But with the focus of Sanders\u2019 transaction tax mostly on financial assets, there\u2019s one asset that sticks out as not being subject to the tax: gold.<\/p>\n

Perhaps that\u2019s because Sanders, like most in Congress, doesn\u2019t have gold on his radar screen. Or perhaps it\u2019s because there are so few gold transactions in comparison to stock trades that taxing gold purchases wouldn\u2019t raise much money. Whatever the reason, if such a plan were to be signed into law it would give investors even more incentive to invest in gold.<\/p>\n

Gold is already a solid asset that performs far better than stock markets, more than doubling the performance of stock markets over the past 20 years. And by investing in gold through a gold IRA<\/a>, investors can gain the same tax advantages as they can through a traditional IRA. With the prospect of stock, bond, and derivatives transactions being subject to future taxation, that makes gold an even more attractive investment option.<\/p>\n","protected":false},"excerpt":{"rendered":"

You may have heard about Bernie Sanders\u2019 latest idea to raise money. As part of his campaign for President he is floating the idea of taxing various financial transactions in order to raise money for the federal government. The money raised would be earmarked to fund free college tuition and reduce student debt levels that […]<\/p>\n","protected":false},"author":13,"featured_media":32407,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[207],"tags":[],"class_list":["post-26539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"acf":[],"yoast_head":"\nGold as a Defense Against Financial Transaction Taxes – Goldco<\/title>\n<meta name=\"description\" content=\"Bernie Sanders is floating the idea of taxing financial transactions in order to raise money for the federal government. 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