Post
Topic
Board Speculation
Re: Has anyone reported bitcoin capital gains or losses on their taxes?
by
notme
on 04/11/2011, 06:11:16 UTC
Since the general stance is that ignorance of the law is no defense, what you don't know will hurt you.

Just out of curiosity, do you disagree with this, generally?

No, I agree with the principle. My issue with it is that excessive complexity and conditionals in tax codes have made the tenet unrealistic to comply with, even for many law specialists.

If there has to be one, I'd be much more agreeable toward the oft-promoted flat universal tax, or a system of flat national taxation for corporations (including provinces/regions/states) and only flat local/regional tax for individual citizens and local businesses. This would be similar to software licenses in which educational/private use is free or a nominal fee versus commercial use requiring fully paid licenses. The simpler and less open to interpretation things are at all levels, the easier it is for everyone.

Your perspective?

I also agree with it generally.

My problem with flat taxes is the boilerplate: a 9% income tax on someone who spends 80% of their income on basic housing and food is a big freaking deal. a 9% tax on someone who spends 1% of their income on basic housing and food is meaningless. This is problematic.

I've usually heard this proposed along with a pre-bate check on goods up to the poverty line, so basic necessities.  Then we are only taxed on the extra we consume.