Incentives matter.

This is a fundamental economic principle that seems to be completely lost on most people.

In this special episode of the Midweek Memo podcast, host Mike Maharrey brings in Sound Money Defense League Director Jp Cortez and bullion dealer Craig Rhyne to talk about the impact of a state sales tax on gold and silver bullion recently passed by the Washington state legislature. Not content to just suck it up and watch his business get throttled by the new tax, Rhyne moved to Idaho.

Jp describes efforts to stop the tax. He and Craig explains why sales taxes on precious metals are so perverse. And Craig takes us through the agonizing decision he made to save his business.