The bill by Rep. Joe Carr and Sen. Frank Niceley would have exempted gold purchases from the state sales tax. Paranoid conspiracy theorists preparing for Armageddon could have saved a mint.
Carr claimed he actually wasn’t trying to help out a few friends on the fringe. He was trying to help only one of them—some constituent who wants to open a big gold warehouse here. That’s exactly what we need to do—poke another loophole in our tax system to benefit one of Joe Carr’s constituents.
The House budget subcommittee killed the bill unceremoniously without comment this morning.