Taxpayers in Ohio Get Screwed Again

Got this in an email from Metal Money Exchange's news letter.

Last week, state legislators in Ohio voted to repeal the state’s sales tax exemption on precious metals. Now, starting in October, residents there will generally pay at least 5.75% tax when purchasing gold and silver. Precious metal coins, rounds, and bars may be the only investments they hold that are subject to this additional cost.
Fewer Ohioans, likely, will buy physical bullion. Those who do must pay the state of Ohio for the privilege of investing in something other than conventional securities and real estate – the preferred assets of banks, brokers, and now, Ohio politicians.

If you are anticipating a financial armageddon buy now and wham instant 5.75% saving.Almost like insider trading if your negative on the dollar.
Thing is central banks can dump gold and crash that too so give up you won't beat them they've lost the plot and blown the budget.
Personally I've invested in a Gold Monster 1000 detector, haven't found any yet but when I do I'll feel rich in better ways than the monkeys pulling the levers at Scrooge McDuck enterprises.

The blue-er your state, the more arduously the politicians are looking for things to tax.

Nothing like taxing your money left over from the previous taxes you paid....

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Originally Posted by RICZ

The blue-er your state, the more arduously the politicians are looking for things to tax.

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You might want to check on the make up of the three branches of Ohio state government. Seems like you might be in for a bit of a surprise.

buy it through a relative in another state or get a po box

Out of my league...so no problem here.

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Originally Posted by BoilerAnimal

You might want to check on the make up of the three branches of Ohio state government. Seems like you might be in for a bit of a surprise.

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The three left coast states are ultra blue and whenever their legislatures are in session, they make it their job to make it more expensive to live here.

They also just increased our gas tax, up 10 cents and diesel tax up almost 20 cents as well, but we don't have to have a front license plate any more. Chris

This thread has been reported as political in nature. I and others don't think it has crossed the line yet. But...let's be careful.

:lecturef_smilie:

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Originally Posted by RICZ

The blue-er your state, the more arduously the politicians are looking for things to tax.

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I think that's just democratic majority rule in action. There shouldn't be any mystery about that. Elected officials' decisions reflect the priorities and values of the electorate in each state. Minority voters will not like it. Basic civics, I think.