Saturday, May 4, 2013

Governor Brewer Vetoes Gold and Silver Currency Bill

The Arizona senate unanimously passed SB1439, the Constitutional Tender Act, making gold and silver legal tender by a vote of 18-0 last week.

On Thursday, Governor Jan Brewer refused to sign the bill into law and vetoed the measure claiming the law would result in lost tax revenue for the state.

Reuters reports:
Arizona Governor Jan Brewer vetoed a measure on Thursday that would have made gold and silver legal tender in the state, saying the legislation could have resulted in lost tax revenue.
The Republican-controlled state legislature voted through the measure last month in a response to what backers said was a lack of confidence in the international monetary system.
The bill called for Arizona to make gold and silver coins and bullion legal tender beginning in mid-2014, joining existing U.S. currency issued by the federal government.
"While I believe the concern over a devalued dollar as a result of an unsustainable federal deficit is justified, I am unable to support this legislation," Brewer, a Republican, said in an open letter to state Senate President Andy Biggs. 
Brewer noted that the "administrative and fiscal burdens" for taxpayers and the revenue department "remain vague." She also cited uncertainty over whether the legislation would have required the state to exempt transactions involving collectable coins and bills that were authorized by Congress and could be used as legal tender. 
"This would result in lost revenue to the state, while giving businesses that buy and sell collectable coins or currency originally authorized by Congress an unfair tax advantage," she said.
It is highly unlikely that tax revenues would suffer under this proposed legislation since only a small minority of transactions would be conducted in gold and silver and businesses are required to collect taxes on those transactions as with any other.

This "lost revenue" argument seems to be an easy scapegoat for protecting the Federal Reserve's monopoly which Brewer was presumably instructed to do.

You may contact Jan Brewer's office using the phone numbers below:
(602) 542-4331
800-253-0883 (outside Maricopa County only)
Be polite, but tell her what you think of her vetoing constitutional competing currencies in Arizona.

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Anonymous said...

i told u stupid phucks on the earlier article that this was a FARCE.

But, activistpost decided to NOT post my comment and thus we continue with the parade of propaganda from the major media and blogs like this one.

the internet is no better than major media companies for the news. Its all BS regardless of who you listen to.

GrinNBarrett said...

She got a call better not or your political career is over. She caved. No backbone!

Anonymous said...

Very disappointing...I thought she was different...I was wrong...she's just another political stooge.

Anonymous said...

Hey, Why don't the people "veto" Brewer out of office!
Stop putting up with this garbage!

Anonymous said...

This is woman under pressure, people pay cash and report it as a sales transaction, what is difference.
The state would have a BIG advantage if people paid their taxes in Gold or Silver coins. The supply at the moment is extremely tight, it is our government that is manipulating the price down, as nations are dropping the dollar & Bernanke's printing press, flooding the world with dollars.

Anonymous said...

She has stood strong through immigration but failed to
stand up to a monster. People want the fed reserve out
of America.

Anonymous said...

Brewer is a pitiful excuse of a Republican governor for this stunt. I thought rather highly of her until she allowed this bill to crash and burn. Makes one wonder what she got out of it.

Unrecruitable said...

If it was initially supported unanimously, can her veto be overridden by the state senate, as is the case in the federal government?

Anonymous said...

Brewer's a puss.

Anonymous said...

No doubt, she IS with the mass murdering terrorists in Washington D.C.


Anonymous said...

Some of you guys are jerks. Do you have any faith and loyalty at all?

Gov. Brewer has been very right wing in her convictions, but she has one minute problem with a bill, and you guys go off the deep end like left-wingers.

She specifically stated right up front what the problem is. So work it out.

Sam Ashworth said...

I think Jan believes she's doing the right thing. Everything else she's done has been good for Arizona and the US generally. Therefore, she must have good reason, I doubt it's pressure from anyone.

Anonymous said...

Guess she was afraid smh... another sad day for Americans.

Anonymous said...

Gold and silver coins have NEVER stopped being legal tender!

Paul St.Julien said...

Gold and silver are legal tender on the Federal level. I'm not sure what the states are trying to do. I think we'll eventually start using electronic money. Maybe our electronic money could be backed by our own precious metal?

Paper money has inflated by a factor of ten times in the last 35 or so years. It took 70 years prior to 1980 to inflate by a factor of ten, and most of that happened between 1971 and 1980.

Anonymous said...

how dare she subvert a unanimous vote?

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