112 sats \ 1 reply \ @Dash_1971 12 Mar \ on: Biden's 2025 tax plan calls for 30% tax on cryptocurrency miners. bitcoin
Miners leaving the US would be good for Bitcoin. Far more concerning is this:
Tax long-term capital gains and qualified dividends at ordinary income tax rates for taxable income above $1 million and tax unrealized capital gains at death above a $5 million exemption ($10 million for joint filers)
Create a 25 percent “billionaire minimum tax” to tax unrealized capital gains of high-net-worth taxpayers
This is how they seize your corn, freaks. This is how it starts, and besides, everyone will become a nominal "billionaire" in the next couple of decades.
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15 sats \ 0 replies \ @CruncherDefi 12 Mar freebie
and besides, everyone will become a nominal "billionaire" in the next couple of decades.
Yeah, this is really efficient and evil trick of FIAT-world politicians. Basically you can push different policy disguised as something else if you are patient. And I see it everywhere.
Examples:
  1. We are going to give all families (or some other groups I target) 1000$ every month forever!
Its not forever, inflation relatively quickly will make it effectively 0. So they don't need to worry about long-term costs of such "forever" handout laws.
  1. We only want to monitor relatively large cash transaction of over 1000 Euro.
"Over 1000 Euro" will eventually contain all everyday transactions if we wait long enough for inflation to catch up. So you effectively push "Monitor all cash transactions" law if you are patient.
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