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hiyosilver
14th May 2008, 01:02
Whoa! Wouldn't the doo doo hit the rotating blade if even a few companies starting paying their employees wages like this!

http://www.silverbearcafe.com/private/5.08/reversal.html

mick silver
14th May 2008, 02:19
I enjoyed reading this thanks again

amadeus
14th May 2008, 17:40
Ha I just read this article last night as well, I want to find a job that pays in gold coins only now!

Richard
14th May 2008, 21:49
Yes, that is an interesting, and even hopeful article at first but...

If understand this right a person must pay tax if they sell the coin, correct? Which they would have to do unless they didn't mind only accepting it's face value. And that can be a discouraging factor. I'll even go so far to say that's why the good ol' IRS said "yeah okay".

It ultimately comes down to telling someone "If you don't want to be taxed, then don't earn so much!"

You would have a part of your pay in gold market value (whatever that is at the time), but would only have 50 in purchasing power so long as you hold the gold. And if you don't want to lose purchasing power, you're pretty much left with having to sell the gold at market value, which means tax at some point unless, again, you like having almost $1000 treated as but a mere $50!

Incidentally, that would be incentive to keep gold prices low wouldn't it?

Seems like just another brick in the prison wall, to me.

Oh well... back to the drawing board...

amadeus
15th May 2008, 17:49
The IRS can't track your sales of gold for CASH from a local dealer or other private party so yeah it's still quite easy to get around the taxes.

Enough said.

Richard
15th May 2008, 20:45
The IRS can't track your sales of gold for CASH from a local dealer or other private party so yeah it's still quite easy to get around the taxes.

Enough said.

True enough. But inflation sure can and so you end up paying tax anyway.

amadeus
16th May 2008, 01:00
well were you to get paid in gold, you can't exactly go to the grocery store with it to buy food. you're bound to have to exchange some of it for FRN's...

Point of the story to begin with is if you get paid in gold you will avoid a LOT of taxes, even if you have to change in some to live...

hiyosilver
16th May 2008, 03:57
with FRN's like this, who needs enemies? :lol:

Richard
16th May 2008, 05:34
well were you to get paid in gold, you can't exactly go to the grocery store with it to buy food. you're bound to have to exchange some of it for FRN's...

In theory, but the RN's won't be around that far in the future. That I can see at least! :D