SB1096 - Sponsor Jake Hoffman (R - Gilbert)
This bill would establish a bullion depository for people who have so much gold or silver that they do not know what to do with it, and taxpayers would pay for it.
If SB1096 were passed, the taxpayers of Arizona would pay to provide this luxury to the wealthy few who choose to invest in silver or gold bullion.
This bill should not be passed. People who want to invest in gold or silver should continue to use the free markets to pay a fee to private bullion depositories to keep their investments.
Sometimes a legislator sponsors a bill that gives special treatment to one kind of investment, like this bill gives special treatment to gold or silver investments.
Those bills should be opposed because the state of Arizona should not pick winners and losers in our economy. If this bill were passed, the state would be giving extra help to people who invest in gold and silver, and that puts markets out of balance. Consumers should be allowed to make their choices, and the businesses they pick should thrive and businesses that fail in competitive markets should simply be allowed to fail.
The State of Arizona should not give special help to one industry over others.
Stop the parade of bills that make the middle class pay, and the wealthiest few receive.
Our schools and roads need funding, and our workforce needs support for
quality childcare.