To have to pay an annual tax for something you own and paid with your own money to possess is ridiculous...
It is true but we also knew the fact that taxes helps our country's progress and development unfortunately for some corrupt countries they made it a cash cow.
Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...
This will only apply to us cryptocurrency enthusiasts since you said
Go for Bitcoin but sad to say
common citizens will still suffer the same defeat though some of them who has businesses and degree can survive from crisis or inflation and I actually felt it during pandemic. That is why we really need to invest into
assets that is future and inflation proof and just to be fair to those who cannot afford an asset like me to find good and legitimate ways to acquire either it is Bitcoin, real estate or precious metals.