Post
Topic
Board Legal
Re: Why are people so eager to pay tax?
by
AliceWonder
on 14/06/2013, 12:56:25 UTC
Isn't that a part of the attraction of bitcoin? You can AVOID tax?

Maybe that's the attraction for some but not for me.

I don't look for ways to rip off society.
Personally I'm disgusted with the way my government uses a lot of its tax revenue, but part of being a productive member of society is paying taxes on what I have earned.

And the open nature of the blockchain makes it easier for an audit to track your BTC earnings than many people realize. If caught not reporting income, the government can lawfully seize my house and freeze my fiat accounts and even put me in jail.

Paying taxes is the right thing to do and avoids that risk.