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Although previously agreeing to hear the Arizona Legal Tender Act bill last year, Kate Brophy McGee refused this year to place the bill on the calendar. Her refusal was in large part her belief that Arizona did not need the bill, even though it is mandated in U.S. Constitution Article 1 S. 8. It died in her Banking and Finance Committee.

It is not surprising that Kate Brophy McGee is on the blacklist of RINO Republicans who collaborated with Gov. Jan Brewer to join with the Democrat legislators in voting for Medicaid expansion. This was to accommodate the implementation of ‘Obamacare’ instead of enacting a state healthcare exchange, among other unconstitutional actions led by the governor. It was the same Gov. Jan Brewer who vetoed the Arizona Legal Tender Act last year for nebulous reasons her office could not defend.

Unfortunately, the bills sponsor, Senator Chester J. Crandell was suddenly killed in an accident while riding on his ranch.

According to the Arizona Daily Sun, “Crandell was known largely for espousing conservative causes, getting attention for a 2013 measure seeking to declare that privately minted gold and silver coins are legal tender in Arizona. He said it set the stage for a time when people will want to use these coins rather than the paper currency being issued by the Federal Reserve, money that some people believe could become worthless due to hyperinflation.”

Senator Crandell was able to easily recruit 12 sponsors for the bill and the Arizona Legislature passed the bill, in large part because of his dedication and dogged determination to the task, a characteristic of all of his work whether in the legislature or on the ranch.

Continue to follow the progress of this topic in Arizona as other states also make progress on constitutional legal tender.

Arizona’s Legal Tender Act SB1096 is assigned to one more committee before the House floor vote, the C.O.W. and on to the governor!

Please contact the AZ House Financial Institutions Committee to hear and pass this honest money bill:

Financial Institutions

Members

Position

Email

Phone

Kate Brophy McGee

Chairman

kbrophymcgee@azleg.gov (602) 926-4486
Demion Clinco

Member

dclinco@azleg.gov (602) 926-4089
Jeff Dial

Member

jdial@azleg.gov (602) 926-5550
Rosanna Gabaldón

Member

rgabaldon@azleg.gov (602) 926-3424
Lydia Hernández

Member

lhernandez@azleg.gov (602) 926-3376
David Livingston

Vice-Chairman

dlivingston@azleg.gov (602) 926-4178
Darin Mitchell

Member

dmitchell@azleg.gov (602) 926-5894
Steve Smith

Member

stsmith@azleg.gov (602) 926-5685

Here are some points to share with Arizona’s Financial Institutions Committee from the Sound Money Campaign:

One of the primary reasons our paper money is not tied to a gold standard is that the government can fund whatever project it needs to fund simply by instructing the Fed to print more money. Before we unchained the dollar from gold, the government could not spend more money than it held in gold. That kept the lid on wild spending, and our eyes on what the United States budget was really doing.

The result of printing money with nothing to back it is a huge national debt. Sure it is easy to say that we need all of these government programs, but how we are going to pay for them. We cannot continue to spend money that we do not have. How long can you do this before you face a huge economic crisis? Well the U. S. Government is facing a huge economic crisis. That crisis is going to affect everyone.

The opponents of sound money (money that is backed by a gold standard) are the very ones who are making the laws, and driving up debt. They are skimming the top and getting rich while waiting for the entire heap to collapse in on itself. Who is going to pay for this? It will be the American middle and lower class and their children!

Paper money is not working for the country. It undermines the power of supply and demand. It turns citizens into addicts of consumerism. Sure we need people to buy products but at what cost do we allow people who cannot afford products to keep buying them? The housing market crash of 2008 should have been a sound warning. It was not. The people have allowed the Fed to make the situation worse by decreasing the value of the American Dollar to such a degree that it is practically worthless.

Paper money is like a mirage. Money that is not redeemable in gold or silver does not show a true vision of industry. How do we measure success and failure if the very components of either are propped up with fake cash? When currency is backed by an asset, it has a limit on how much it can be worth and how little it can be worth. The extreme of printed money is not expressed by upward growth; it is in terms of deflation.

How can the value of currency increase if the amount of the currency floating within the market continually dilutes its value? The answer is that printed money cannot gain in value unless it is retracted from the market. In the current situation, that would cause interest rates to go sky high, and the economy would face huge inflationary problems. Printed money needs to go. It is past time to return to a gold standard. It is past the time that we allow the markets to regulate the value of currency so a Dollar really is worth a Dollar.

Last year’s Arizona Legal Tender Act was in demand again this year by a number of legislators and its sponsor was swift in resubmitting it to the ‘hopper’ in 2014 as Senate Bill SB1096!

This time the bill is beefed up to address minor concerns with implementation. the Senate Engrossed text of the bill can be read HERE. It was quickly passed through the Arizona Senate and is in the House Federalism and Fiscal Responsibility Committee TODAY.

Please contact the members of this committee to encourage them to recognize honest money as legal tender in Arizona, paving the way to another great tool for prosperity and sound economic practice in compliance with Article I, Section 8 of the Constitution.

Should this committee amend and recommend the bill to the floor for consideration by the Committee of the Whole, or send it directly to the floor for Third Read, contact all members of the House and encourage them to pass SB1096 as it stands.

FOR TALKING POINTS to promote this bill, see the Arizona Legal Tender Act Fact Sheet tab above and browse the articles. Facts on honest money don’t change–the use of gold and silver coin as legal tender is almost as old as dirt itself (pardon the pun!).

It is time we kept our hard-earned wealth intact. “A wise man leaves an inheritance to his children and grandchildren.”

 

Texas Votes to Abolish Taxation of Gold

May 23, 2013

Texas to Abolish Gold Taxation as APP Launches Related Website on States and Sound Money The Texas Senate on Wednesday night passed H.B. 78, a bill that eliminates the sales tax on precious metal coins and bullion. It now goes to Governor Rick Perry’s desk for his signature into law. Existing Texas statute applies the […]

Read more

By Shane Vander Hart on May 22, 2013 | Economics

SB 248 is being discussed in the Louisiana Senate Committee on Revenue and Fiscal Affairs.  It simply provides for a sales and use tax exemption on purchases of gold and silver bullion coins.  This bill is sponsored by State Senator A.G. Crowe (R-Slidell).  This is the bill we have been involved in.  There may be a vote on this before the end of the day, we’ll keep you updated.

There is a similar House bill – HB 682 sponsored by State Representative Paul Hollis (R-Covington) that is being considered by the Louisiana House Ways and Means Committee.  This bill broadens the sales and use tax exclusion for gold, silver, or numismatic coins (collectables), or platinum, gold or silver bullion.

If both bills pass the differences will need to be worked out in conference committee.

Update: the House bill just passed out of committee unanimously.

Saturday, 04 May 2013 Written by  Alex Newman
http://www.thenewamerican.com/economy/economics/item/15298-outcry-after-gop-arizona-gov-brewer-vetoes-gold-and-silver-bill

Despite overwhelming support among lawmakers and activists, Republican Gov. Jan Brewer vetoed legislation that would have made Arizona the second state to officially define gold and silver as legal tender. The GOP governor acknowledged that concerns over the increasingly unstable U.S. dollar were justified. However, citing a miniscule projected drop in tax revenue and other trivial excuses, Brewer refused to support the popular bill. Activists are now hoping lawmakers will try to override the governor.

In an open letter about the veto of SB 1439 to Arizona Senate President Andy Biggs, the governor claimed that alleged “administrative and fiscal burdens” for taxpayers and the state revenue department “remain vague.” In addition, Brewer cited an example of her supposed confusion, claiming it was “unclear” whether the measure would have required Arizona to exempt income tax related to a transaction with collectible coins or currency originally authorized by Congress and used as legal tender.

“This would result in lost revenue to the state, while giving businesses that buy and sell collectable coins or currency originally authorized by Congress an unfair tax advantage,” Brewer wrote in explaining her controversial decision, which sparked an outcry among conservatives and sound-money advocates. Despite the supposed worry over “lost revenue,” however, experts said the legislation was unlikely to have any significant impact on the state budget — especially not if, as critics of the bill alleged, few people were interested in using sound money anyway.

Still, Brewer did suggest that she understood growing nationwide fears surrounding the Federal Reserve System, inflation, and wild federal spending. “While I believe the concern over a devalued dollar as a result of an unsustainable federal deficit is justified, I am unable to support this legislation,” she wrote. “I believe the provisions in this legislation need to be more carefully examined and there should be prior coordination with those government agencies tasked with oversight of these transactions.”

It was not immediately clear whether the governor would be willing to reconsider supporting the bill if the provisions were “more carefully examined.” As The New American reported last month, in an effort to soften opposition from the Brewer administration’s revenue bureaucrats, the Arizona House of Representatives added an amendment specifically stating that authorities would not be forced to accept gold or silver. Apparently that was not enough.

Under the legislation, which received widespread support from economists, lawmakers, and grassroots activists, precious metals would have been treated like debt-based fiat currency for taxation and regulation purposes. Unlike the privately owned Federal Reserve’s currency, however, nobody would have been forced to accept gold or silver against their will.

Outcry After GOP Arizona Gov. Brewer Vetoes Gold and Silver Bill

Today, the Arizona Senate passed SB1439 Gold and Silver Coin as Legal Tender and sent the bill to the Governor. She should sign the bill as it promotes the economic climate she wants in her 4 point plan for Arizona. As business is encouraged, more jobs will be created, more earnings stay in the state and Arizona may be closer to paying off its $8.2 Billion in debt from prior borrowing instead of just paying $350 Million of taxpayer money in interest payments every year.

Send a message encouraging Gov. Brewer at http://www.azgovernor.gov/Contact.asp to sign this bill into law and further Arizona along the path to better economic times.

The documents on this site show more reasons why this is good for Arizona, as Phoenix will now take its place as a premier financial center for precisous metals finance along with Zurich, London, Hong Kong, New York, Salt Lake City and others recognizing that gold and silver coin are real money.

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