Markey sticks to golden rule, fires back

Folks bashing Congresswoman Marilyn Musgrave for co-sponsoring a bill to boost profits made off the sale of gold coins may not have found the treasure chest of scandal they thought.

The bill - HR2883 now in House Ways and Means - would lower the gains tax on standard gold bullion to 15 percent from the 28 percent rate it receives as a "collectible," according to Diane Piret of the Industry Council for Tangible Assets, which is supporting the bill in Congress.

On Musgrave's financial disclosures, the Republican incumbent lists among her husband Steve's assets between $50,000 and $100,000 in gold coins and precious metals. The campaign confirms he's a lifelong collector of rarities.

But not so fast with that "a ha!"

Piret says the bill will affect the standardized coins and bars issued by the U.S. Mint and other governments and not the plundered booty from a Spanish galleon or ancient Roman currency.

A plain reading of the bill's language doesn't seem to make that distinction, however, and the Democratic Betsy Markey campaign stands by its charge that Musgrave is trying to enrich her husband through the legislation.

Markey spokesman Ben Marter says the bill still raises questions. 

Musgrave spokesman Jason Theilman, who apparently was not aware of the potential discrepancy, had an answer.

"Her husband is a coin collector," Theilman said. "Marilyn Musgrave is very proud to lower taxes on precious metals. She's very proud to lower income taxes, and guess what. She has an income."

The coin conundrum follows Musgrave's allegations yesterday that Markey may have simultaneously held a Senate staff position while her company received millions in federal contracts or that her husband's company inappropriately labeled itself a woman-owned business.

The two are battling for the 4th Congressional District seat.

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