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Mix-Ansicht- Senator Harry Reid zur Besteuerung auf Investments im Edelmetallbereich. - Easy, 16.05.2004, 16:35
Senator Harry Reid zur Besteuerung auf Investments im Edelmetallbereich.
-->News From Senator Harry Reid - Assistant Democratic Leader From Nevada
Senate Passes Reid, Ensign Measure To End Bias Against Investments In Gold, Silver
Wednesday, May 12, 2004
Washington, D.C. - The U.S. Senate has passed legislation by Senators Harry Reid (D-NV) and John Ensign (R-NV) to end unfair tax penalties on investments in precious metals.
The Fair Treatment for Precious Metals Investors Act is part of a larger tax bill that passed the Senate late last night. It would cut the capital gains tax rate of gold, silver, platinum, and palladium to match the rate for other types of common investments. Precious metals are now classified as “collectibles” and taxed at a maximum rate of 28%, while stocks and bonds are taxed at a maximum rate of 20%. With lower taxes on precious metals, investors will be more likely to put their money into these products, thereby increasing demand and keeping prices high.
“Many people avoid investment opportunities in precious metals because of the extra tax burden,” said Reid. “Nevadans need diversified portfolios, and yet the government has designed tax laws that make one type of investment more costly than another. This bill will fix the problem. It will help investors, and will be good for Nevada’s mining industry. Nevada is the third largest gold producer in the world, after Australia and South Africa.”
“This important measure will provide a new level of fairness for our mining industry in Nevada, which is especially important during a time of economic uncertainty,” Ensign said. “This bill is based on the principles of fairness and healthy economic growth. I look forward to seeing it signed into law.”
The Fair Treatment for Precious Metals Investors Act will reclassify all purchases of gold, silver, and platinum bullion, in coin and bar form. Bullion is produced for investment purposes. The bill will not directly affect prices or tax rates for smaller amounts of precious metals used for commercial purposes - like gold jewelry.
The measure was included in the FSC/ETI bill, a tax bill that passed the Senate by a vote of 92 to 5. The House of Representatives has not passed it yet.
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