0 sats \ 1 reply \ @jgbtc 30 Aug \ on: Nico Moran / Simply Bitcoin / AMA AMA
Do you think there are elements of the current political parties (let's face it I primarily mean the Democrats/liberals/progressives) that are fundamentally at odds with Bitcoin? For example are progressive ideals of equality just incompatible and can never be reconciled with the bitcoin ethos?
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32 sats \ 0 replies \ @BITVOLT OP 30 Aug
Any political party that believes in wealth redistribution is inherently going to dislike Bitcoin because it's not compatible with their belief in "equality" which requires effective mechanisms of taxation.
Income tax is limited because there is only so much you can tax before people stop paying (roughly 50%). Money printing is the most effective covert tax ever created, it's what keeps society poor and politicians much more powerful than they should be. Most people don't realize the money printing tax exists.
Luckily, Bitcoin fixes this without having to rely on the out come of elections.
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