POLITICAL: They don’t catch speeding cars


I-95 cameras snap speeders, spark controversy
Mar 27 01:04 PM US/Eastern
By BRUCE SMITH Associated Press

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RIDGELAND, S.C. (AP) – As Interstate 95 sweeps past this small town along South Carolina’s coastal plain, motorists encounter cameras that catch speeding cars, the only such devices on the open interstate for almost 2,000 miles from Canada to Miami.

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Revenue raising.

What else could it be about?

Selective enforcement, Fourth and Fifth Amendment. Right to confront one’s accuser.

What a joke!

Even the vocabulary is a joke — “catch”. what do they “catch”? Honest folks traveling.

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MONEY: Gold 28% LTCG rate, but who sells?


The long-term capital gains tax rate on Gold is 28%

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People keep asking me what I think about gold. Its been on a great run, but one must be extra careful when investing in precious metals. Precious metals like gold and silver are considered “collectibles,” as are the ETFs that track them (like the ETF, “GLD”). Per the IRS tax code, “collectibles” held less than one year are taxed as short-term capital gains at one’s ordinary income tax rate, and if held for greater than one year, collectibles are taxed as long-term capital gains at 28%. Your broker probably won’t tell you this because he or she probably doesn’t know, yet will gladly take your commission. However, a 28% capital gains tax rate can be a problem.

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Of course, some, less than scrupulous folks, or tax protestors, might use gold to evade the inheritance tax laws. AND, if one is concerned about the possibility of hyperinflation a la pre-WW2 Germany, gold bullion coins is an interesting choice. Personally, I wouldn’t call it an “investment”; more of “insurance”.

As “insurance”, metals only make sense if they are in your custody; not in an account somewhere. And, if you’re buying bullion, then clearly the cost over spot should be minimized. As well as, avoiding anyone like the plague selling “collectible coins” at a premium over spot. TV ads are a clue as to who to avoid.

In the pyramid of a financial plan, if one has a “big pyramid”, then certainly metals have a place. I learned very early in life not to be overly concerned about taxes. Yes, they are theft, but it should NOT drive your behavior. IF by some chance, you have to liquidate some gold, then you can worry about paying taxes. There are options to sales with a paper trail.

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