If the USD price of Bitcoin falls because of this development (whether actualised or not), then perhaps the market is inefficiently pricing Bitcoin’s ability to resist unjust wealth grabs by the State.

Or: the market has correctly surmised that most Bitcoin holders would easily cave in to the State.

The economy is going to love that.

It's a neat trick to inflate away the value of the money and then tax people on their nominal gains.

Most people will spend 80% of their time trying to earn 20% more income

However, the rich spend 10% of their time to save from spending 40% of income to taxes

Its never been easier to avoid tax (legally).

The information is freely available to anyone who wants to minimize (what is often) their largest single expense.

This was not the case when Jimmy Carter raised taxes (for example)

btc has a built in feature to sidestep this attack, and its hidden in the very first sentence of the white paper.

This is just a proposal. It doesnt mean it will be accepted. And realizing the people who will be voting for it, it wont pass. People are greedy .

No one in this thread seems to understand the proposal will never effect them and only effects certain HNW households above a pretty fucking large amount.

Nothing to be outraged about unless you simp for corporations and the rich. Which most Republicans do.

But because Biden and democrats, you guys have to find some way to be mad about it. Must be so exhausting to be so outraged all the time.

There is also a provision for unrealized capital gains

Ah, so this is how they solve the deficit. Prediction: they'll negotiate by replacing the increase with a low wealth tax (which of course they'll ratchet up over time).

Well this is kind of embarrassing.

People often look at history to prove how taxes need to be increased but I think this chart honestly shows how it is skewed what we have been taught since this would be the biggest way to catch the rich

This is just the right way to bid adieu right before he loses to Trump.

It's a good day to be woke! Keep them brainwashed and dumb and living in worst conditions then ever before. And it'll be so foolish if one seeks to get gain wealth. This just makes people dependent of the gov't after all, they're coming for your kids. I wouldn't be surprised if they start telling people to have children and tell them the child need to prepare their own food, do their own homework, ride a subway to go to school, clean and etc. Like japan.