We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.
The problem with taxes in most cases is not that they are collected, but rather the misuse of taxes (spending for other purposes).Regarding taxes on cryptocurrencies.
Doesn't the following seem strange to you? Governments want to tax profits from the sale of cryptocurrencies. Ok. The investor takes the risk, but shares the profit with the government. But why then does the government not compensate for losses from investing in cryptocurrencies (not all investments are profitable)? If they encroach on part of the profits, then, in fairness, they bear part of the risks.
Otherwise, why would we pay them taxes?I would like to start my reply with a question, whether the collected tax money is spent in any ways at all? Cuase most of them are going into the pockets or under the table of authorities.
The modern-day taxation system is made after inspired by Leech (a parasite that sucks blood) I guess, they will suck from us as much as we have left to give and when we don't have anything then they don't care at all but for the sake of stunt, they have capital loss carryforward system which depends on the country where we live in.
I want to reply to many others too but don't have that much patience to write like JJG since this is kind of wide topic that should be covered with long and clear explanations.