I'm mainly concerned about the capital gains on investments you didn't cash out. A million is more than anyone needs to live in a year.
That's a very different animal: Taxing bitcoin as property would be extremely bad, esp at a 48% rate per year. I don't think that is being proposed.
You don't pay for moving coins to a ledger anyway but not everyone will be 100% bitcoin when it goes above a million. Everyone in the US and on this forum may eventually get hit with the tax when bitcoin goes up combined with hyperinflation. Also, if the US goes to 43.8%, you can bet the EU will follow shortly. What happens when a million is equivalent to a current $100k because of inflation? Could happen in a few years at the current rate.
I think you do: If you move coins from an address to another then I thought it was a taxable event ("work" is being done, like those crazy Jewish sabbath rules). Maybe if it's not in your control, but if that's the case then the argument should be move coins around at will, tax when converted into fiat.
If you want to shift investments around, you still get hit with the tax even if you didn't take that money out to use. The effect of the tax is it forces everyone to be a holder even if they are holding a bad investment. Good for bitcoin not so good for stocks or companies. It's better for the economy if people can move their investments from shit companies to good companies as their performance fluctuates rather than be locked in due to a 43.8% hit by the government.
Agreed. This is something to work for. At that point it would be like a "tax free" 401k where you can move amounts around but are taxed on the ultimate withdrawls to fiat.