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Comment Re:Here's why (Score 1) 468

Better yet, the tax code should not offer ANY differences for households or couples or singles. Simply dependents under the age of 18 for whom you have legal responsibility. Why should there be different tax laws for married couples versus singles cohabiting? Eliminate the "married filing jointly" category altogether.

Comment Re:Time for a revolution (Score 1) 424

Yep! And when your friend shows up with legal team, they will all be subpoena'd to find out where the funds came from. Not many lawyers would be willing to commit perjury to help you out - they'll say "from your Bitcoins". The IRS will simple abscond with the funds (seizure of unreported assets) and again you're SOL...

Comment Re:Time for a revolution (Score 1) 424

Regarding bitcoins, there IS a provable trail of when they were used/accessed, right? That's the blockchain and is one of the key features of bitcoins. Assuming he's found guilty and has a large penalty to pay off, any time he accesses those bitcoins he's now made a permanent record of the transaction and if he does NOT use the first XX% of those proceeds to pay off his debt, he's now committed fraud and can be thrown into Federal PMITA prison.

Comment Re:There will be what we end up using (Score 2) 558

> Yup, multiple credit cards have been able to survive over the long term.

Yes. And multiple credit cards have also died out and been pushed out of the market.

...checks UID of jedediah...

OK gramps, just because your JCB card isn't universally accepted, and Golden Corral no longer takes your Diner's Card is no reason to get worked up over newfangled payment systems...

Comment Re:Oh boy ... (Score 1) 424

It goes beyond what you mentioned for the executive branch. You essentially said that the President can choose to not to uphold the law - not prosecute. It goes beyond that; the President can stop it from becoming a law in the first place by vetoing the bill. Laws do not exist until the President agrees to the bill. He had equal footing in passing laws as the Congress, in that regard.

Comment Re:Oh boy ... (Score 1) 424

You can blame other parts of the federal government somewhat, but blaming Congress for bad laws is always precisely the right thing to do.

The President is involved as well, since he can veto the bill to prevent it from becoming law. Sure, Congress can cook up some bad bills - but the President is the final gate keeper before that bill becomes a law. School house rock and all..

Comment Re:Time for a revolution (Score 1) 424

Umm, the federal government has already seized someone's bitcoins, they could do the same to yours if they so chose.

Notice how they only seized the unsecured portion of Ross Ulbricht's supposed vendors bitcoin's sitting on the servers escrow account and not the majority sitting in cold storage which they cannot sell or get access to.

Can Ross Ulbricht access those bitcoins? If not - they're as good as gone to him. Except he cannot use them to pay off his debts. So he's still in the same tax hot water, but without the asset NOR the means to bail himself out of hot water.

Comment Re:Time for a revolution (Score 4, Insightful) 424

If they have YOU, there is no reason to have your bitcoins. Having a vault full of cash, but no way to access it, is as good as not having any cash at all. With the IRS, you're basically presumed guilty until proven innocent, so they'll just hold you - or garnish your wages, or take your hard physical assets (cars, property, 401Ks, Social Security, clothing, computers) and continue to do so until you prove your innocence.

Comment Re:Time for a revolution (Score 2) 424

You better hope they ignore you... Otherwise a single letter to your employer will have your paycheck suspended until the situation is resolved... The long arm of the IRS reaches across International borders with ease and most companies/banks will roll over on a single person without a second thought, simply out of convenience.

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