What they mean is they're going to have to actually pay the taxes on the profits of the assets that they're holding. If you guys are going to tell us it's not funny money then congrats you've entered the real world and now you have an asset to be taxed. As an added bonus you're going to be taxed to pay for the enormous cost of the activity you're doing for proof of work and the enormous cost for policing the high risk proof of stake coins. No more externalizing your costs on to me and society in general. I'
Why should someone pay money because something they hold is wanted by others? Let me dumb down the issue to you. If I and someone else wants your house for $100 million, should you be forced to pay $50 million in taxes, not because you sold it.. but just because some people say they would pay $100 million for your house. If you don't pay the tax, you'll be forced to sell the home. Now imagine instead of a home it's your wife.
The infrastructure bill, which promises public spending on major projects like new roads and bridge repairs, wouldn't appear to have anything to do with cryptocurrency. But the Congress figured that "crypto brokers" could be squeezed for $28 billion in taxes over a decade to foot part of the bill.
Got that, you can't tell me what any cryptocurrency will be worth in ten days, but the administration is comfortable to imagine it can 'squeeze' $28 Billion in new taxes out of "crypto brokers". This just points out how tenuous these ten-year 'projected income' estimates are.
In other news, the CBO scored the 'fully paid-for' $1.2 Trillion dollar infrastructure bill isn't, it will add nearly $300 Billion to the federal debt - the administration says they're confident they can make that up with hand-wavy 'eff
Why should someone pay money because something they hold is wanted by others? Let me dumb down the issue to you. If I and someone else wants your house for $100 million, should you be forced to pay $50 million in taxes, not because you sold it .. but just because some people say they would pay $100 million for your house. If you don't pay the tax, you'll be forced to sell the home. Now imagine instead of a home it's your wife.
At least in North America. We have property taxes, which are wealth taxes
The average American has 30% of their wealth in their home.
The average billionaire has 1% of their wealth in their home.
Property taxes are regressive.
Put the cat back in the bag? It worked with BitTorrent and the dark web. Makes sense to me!
The infrastructure bill, which promises public spending on major projects like new roads and bridge repairs, wouldn't appear to have anything to do with cryptocurrency. But the Congress figured that "crypto brokers" could be squeezed for $28 billion in taxes over a decade to foot part of the bill.
Got that, you can't tell me what any cryptocurrency will be worth in ten days, but the administration is comfortable to imagine it can 'squeeze' $28 Billion in new taxes out of "crypto brokers". This just points out how tenuous these ten-year 'projected income' estimates are.
In other news, the CBO scored the 'fully paid-for' $1.2 Trillion dollar infrastructure bill isn't, it will add nearly $300 Billion to the federal debt - the administration says they're confident they can make that up with hand-wavy 'eff