Lawmaker asks to be paid in gold

[cali]

A Montana state lawmaker is asking that he be paid in gold coins because of his lack of faith in the U.S. dollar amid a rising deficit.

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Read more: http://www.politico.com/news/stories/1112/83767.html#ixzz2CIMjW3Ou

[Enrique]

1. it might be easier for them to keep sending him checks

and then he can cash the check and buy gold with the money.

[JHB]

2. OK, but since he's asking for special handling, there's a fee for that...

Why should other taxpayers bear the extra cost? Deduct the added labor cost for a state employee to take the time to handle this special request, plus any additional expenses incurred in covering this person's normal duties while they are occupied with this special request (i.e., overtime, or a temp). Economically, it would make more sense for him to just cash his check walk straight to his favorite gold coin store.

Leave it to a Paulite to complain about government by asking to increase inefficiency.

[ret5hd]

3. I bet he is coming at this from one of the following two angles:

A U.S. Gold Eagle has a face value of $50, and a gold value of about $1700.

1)He's trying to force the issue and get paid in $50 gold pieces, which he would then sell for the gold price, but then he would have to pay taxes on the difference.

or

2)He's trying to get paid in $50 gold pieces, but valued at the gold price. Then he claims on his taxes that he only got paid $xxx (however many gold eagles he got times $50). Then he only pays taxes on htat much lower amount.

[Barack_America]

4. I suggest the chocolate ones. Mmm.

[gollygee]

5. How about if he takes his paycheck, cashes it,

and then goes and buys gold with it. He has the power and can take care of this.

[KharmaTrain]

6. Not A Bad Idea...

...considering the price of gold has risen, but lately has dropped. It may rise again and it surely is generating a higher rate of return than any money market or other short term growth fund.

That said...my bets this is a "survivalist"...a "prepper" who will stockpile the gold along with the 500 pounds of prunes and 9000 rounds of ammo in the shelter built into his private hidden mountain.

[mmonk]

7. Give him the new gold plated Obama coins advertised on TV.

[Johonny]

10. +1

[Thor_MN]

8. Set up a direct deposit to a Goldline account for him.

Every payday, he will get ripped off by getting gold at a premium rate.

[PETRUS]

9. How asinine

Money is a system of accounts and a representation of what's real. What matters is the health and education of the people (aka the workforce) and good stewardship of our natural resources. If we fail to care for those things and end up growing less food and building fewer homes, no amount of gold is going to prevent starvation and exposure.