Post
Topic
Board Economics
Re: How will blockchain affect the taxing system?
by
1Referee
on 12/10/2018, 18:15:20 UTC
A well-functioning democracy will not think about double taxing anything.

Is there actually a well functioning democracy? To me it seems like a rigged game all the way through, regardless of what country it concerns.

My overall net worth in terms of fiat value (concerns savings, stocks, bonds, precious metals, crypto, etc) gets taxed year after year after year. The government doesn't care whether you gained net worth or lost it, as long as your net worth tops their set limits, you'll get taxed. It's the worst possible form of theft, especially with how you can't do anything about it.

If you refuse to pay what's due, your bank accounts will be frozen, and they'll seize the income from your employer till your "debt" is cleared. That's why I'm glad 75% of my net worth is in Bitcoin. I efficiently made sure that they won't be able to ruin my life by freezing/seezing all my legacy assets and accounts.