Utah gold: Here we see the gilded statue of the angel Moroni atop the Mormon Temple in Salt Lake City.
You know Fox News is all over this story: The Utah House of Representatives is fixin’ to vote on a measure that would make gold and silver coins a viable alternative to the boring—and inflation-prone—forms of currency currently in national circulation. Bonus: Utahns could even pay taxes with these shiny coins!
The bill’s author, it should be noted, is affiliated with the tea party. —KA
The legislation, which has 12 co-sponsors, would let Utahans pay their taxes with gold and also calls for a committee to study alternative currencies for the state. It would also exempt the sale of gold from the state capital gains tax.
The bill cleared a state legislative committee on Wednesday, the first of 11 similar bills in statehouses across the country to do so. If the bill clears the House, it would have to pass the Senate before the governor could sign it into law.
Attorney and Tea Party activist Larry Hilton, author of the original bill, said he doesn’t foresee any roadblocks.
“There’s enough uneasiness going on in the economy to trigger people to feel that, hey, having a little Plan B, kind of a backup system, is not a bad idea,” he told FoxNews.com.