Subsidies for Big Gold must end

We Have To Do Something About These Soaring Gold Prices

By Institute for Energy Research —— Bio and Archives--May 4, 2011

American Politics, News | Comments | Back To Full Article

WASHINGTON- With gold prices reaching record heights in April, gold mining companies are reporting huge profits. 79 percent of all gold mined in the U.S. comes from Nevada, where the state’s senior senator, Harry Reid, is a stalwart defender of the industry. But with the soaring price of gold, the U.S. government still allows the gold mining industry to take advantage of deductions in the tax code. These subsidies must end.

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