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February 21, 2012 in Idaho
Rep. Hart pushes gold coins as ‘legal tender’
Phil Hart
(Full-size photo)
BOISE - An Idaho House committee voted Tuesday to introduce legislation from Rep. Phil Hart to let Idahoans use gold and silver coins at face value as “legal tender” and “as an alternative to the Federal Reserve Notes that currently circulate as our only currency,” and exempt from all taxes any transaction paid for in gold and silver coins.
It’s a new version of HB 430, which Hart earlier introduced as a personal bill; that measure hasn’t come up for a hearing.
Rep. Eric Anderson, R-Priest Lake, voted against introducing the new bill. “To me, it looks like nothing more than a tax avoidance,” Anderson said. “I don’t buy the argument.”
Hart, a fourth-term Republican from Athol, has been working on various versions of his “sound money” proposal for several years; he’s also a tax protester who currently has an appeal to the Idaho Supreme Court pending over unpaid state income taxes, and a pending action in federal court in which the IRS is trying to foreclose on his log home in Athol for back federal income taxes.
Hart’s new bill, like the previous version, declares, “History attests that monopolistic monetary systems based on legal tender edicts tend toward manipulation of the supply, resulting in lost purchasing power, inequitable wealth redistributions, misallocation of productive resources and chronic unemployment, thus impairing life, liberty and property. In order to protect Idaho and its citizens against this danger, it is necessary for the state to permit gold and silver coin as ‘legal tender’ in payment of debts under certain circumstances.”
The bill says gold and silver coin transactions “shall not be subject to any sales, excise, gross receipts, income, capital gains, or other form of tax.”
The major difference from the earlier version of the bill: HB 430 estimated it would have no impact on the state general fund; the new version estimates the state would lose about $50,000 in capital gains taxes on the sale of gold and silver coins. The new version also adds several additional paragraphs of legislative findings about the value of “sound money, most commonly precious metal coin.”
Eked-out win teaches Idaho Democrat a lesson 
slamdunk on February 21 at 2:31 p.m.
Why is this crazy still there? Oh yeah, I forgot…Idaholians leg. is working on an ethics bill.
RedCedar on February 21 at 2:50 p.m.
What problem is this going to solve, again? I never knew anybody paid any capital gains tax on the sale of gold and silver anyway. Maybe they’re supposed, to but Idahoans are also supposed to pay 6% use tax on food they buy in Washington, and Washingtonians are supposed to pay even higher use tax in Washington on whatever they paid 6% on in Idaho. Don’t ask me to work out the details. Nobody pays it. And nobody pays capital gains tax when they take their coin collection or dead aunt’s jewelry to the pawn shop.
lowtechmaster on February 21 at 3:09 p.m.
Idaho really should secede. It seems to have not much in common with the other 49 states. Suggest Idaho legislators read the United States Constitution regarding legal tender/money.
SMARTGUY on February 21 at 3:10 p.m.
Since a five dollar gold piece is worth about $5000.00, I will be happy to give you “face value” for all the coins you have Phil.
Loudin on February 21 at 3:19 p.m.
On the face of it, it looks like it would be a burden to small businesses who would have to accept gold & silver in lieu of cash; I know I wouldn’t accept them.
Somebody ought to introduce a bill into the Idahoot House that would require a surgeon to open that crooks’ head and see if therein lies a brain. Maybe his illegal activities and hillbilly legislation are simply the result of a damaged mind…
Loudin
WHS on February 21 at 3:34 p.m.
“Hart, a fourth-term Republican from Athol, has been working on various versions of his “sound money” proposal for several years; he’s also a tax protester who currently has an appeal to the Idaho Supreme Court pending over unpaid state income taxes, and a pending action in federal court in which the IRS is trying to foreclose on his log home in Athol for back federal income taxes.”
The key sentence, A FOURTH-TERM REPUBLICAN…
Just amazing that this tax dodger has been re-elected three times. Just goes to show you I guess, that stupid is as stupid does.
WHS
reservedparking on February 21 at 3:40 p.m.
Obviously, there’s something in this for him, otherwise he’d never bring it forward. Tax cheater that ought to be in jail rather than the state legislature.
Codywiench on February 21 at 4:02 p.m.
I think Idaho is on the verge of being kicked out of the US. I don’t think most of the US will really miss us :/
dataxman on February 21 at 4:13 p.m.
Colorado has the same proposal. Utah already has passed it.
http://www.sltrib.com/sltrib/world/53545107-68/gold-silver-currency-coins.html.csp
meadman on February 21 at 4:18 p.m.
I expect to see Hart on an episode of “Hillbilly Handfishin” any day now……. what a (crooked) Doofus! (which, by the way, is his middle name – Phillip D. Hart..)
Loudin on February 21 at 4:25 p.m.
That’ll work out great for Colorado: After you marry your first cousin, you can pay the minister in doubloons.
As for Utah, I don’t want to emulate anything they do there…least of which is to turn my wife into a baby-making factory.
Loudin
PS: This is still a stupid idea that will cause headaches for small business owners. Hart should stick to cheating on his taxes and stealing lumber…things he knows well. Punk.
mrd on February 21 at 6:20 p.m.
hart is a tax dodger and it amazes me how anyone with a brain could vote for him.
goattrails on February 21 at 7:44 p.m.
do you wonder how twisted the thinking is that refuses to pay taxes yet takes our tax dollars! and he gets elected because he has an R behind his name. Come on…SOMEONE run against him.
johnclarke on February 21 at 8:37 p.m.
Idaho; our sort of local version of the deep South except the states in the deep South are actually laughing at Idaho and this complete moron, who apparently keeps getting voted in by other morons. I hope the IRS forecloses on his log home and I will buy it. Then I will turn it into the Idaho center for Wolf studies.
johnclarke on February 21 at 8:38 p.m.
No wait, the Idaho center to study the dangers of underage texting while using a tanning bed.
kma on February 22 at 4:53 p.m.
Come on folks. Phil is above the law. He is one that does not have to pay taxes, income or federal. He is above the law!!!!!!!!!! Please, he is a republican and you know what that means………that republicans are above the law, including Phil!!!!!!!
And, wait, republicans like your boy Phil and now your boy Santorum want to invade my uterus, my life……they want to tell me and you and all women how to live……….hmmmmmmmmmm……..guess we are going back to the stoneage with the repuks with these nutcases!!!!!!!!!!
PROFINTOX on February 23 at 8:52 a.m.
This clearly falls into that broad category of “whatever…”.
But I am with Smartguy on this one. I would GLADLY take someone up if they wanted to use their gold or silver coin at face value to pay me for anything. Old or new issue, makes no difference to me. I could make BUKU profit on this and retire early…given of course there was a sufficient supply of people nuts enough to actually pay in such a manner.
jmowreader on February 26 at 12:09 a.m.
Dear Rep. Hart: the part of the Constitution you quote to justify your “sound money” bills (Article I, Section 10—Powers Prohibited to States) says, in no uncertain terms, that states will not coin money.
Quit doing this.