And to really screw with the goy, they make alternatives much harder to understand. Did you know per the IRS if you own something outside the US you have to declare it to them? Nobody knows why this is, except the IRS can rob you later if the asset value goes up with a surprise audit. And on top of this, crypto is classified as 3 different things: commodity, currency, and asset, with the IRS and the government making zero effort to explain which classification anyone should use. And to really screw them even harder beyond inflation, gold is supposed to be hedged against inflation, meaning as the price of gold goes up, you have to pay capital gains on the transaction. Im pretty sure 75%+ of White peoples' incomes is going straight to some form of a tax, levy, fee, etc
What you don’t understand is the income tax is already a 100% tax. $100 trying to pass just 5 hands at 30% income tax leaves only $15 left in circulation. 5 hands and it’s already all in the government’s hands.
Property tax is also a 100% income tax as are car registration fees. Given enough time, people as a whole will have paid double or triple what the house was worth
Yes but the income tax can take all dollars in circulation in five minutes if people choose to spend it that quickly.
It’s a tax on the fucking usage of the money itself.
What? Crypto is classified as property for tax purposes. It's been that way for 10 or so years.
It's more complicated than that since the CFTC classified it as a commodity, and the IRS classified it as an asset. This then begs the question, who do you listen to?
You don't know what the fuck you are talking about. The CFTC doesn't charge taxes. The IRS classifies crypto as property, not "assets". "Assets" isn't even a category of something that's taxed.
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