A tax on unrealized gains is just plain stupid.
Discussion
Germany leading the charge with the "vorabsteuer"...
Taxes are theft
Whatβs to stop governments taxing unrealized gains on Bitcoin? Donβt they already do that somewhere?
Any forced taxation is just plain stupid.
If people want to use a government product or service, they can pay for it of their own free will. Forcing them to pay for a service they don't want and didn't ask for is both tyrannical and stupid.
thats where 99% west is at excluding tax heaven states
It's not stupid. Actually, it's clever. It's a clever way of looting the common people. It's an unrealised theft.
extrusions r never clever
when DEBT at $37T and also all other G8 similar - anyway to EXTRACT fiat back to faucet is called POLITICAL INNOVATION to save the state
most bankrupt gov r - will they will be looking for moar innovative ways
penny to beggar means a lot
That's how they make government stealing legal.
So is property tax, which is a kind of unrealized gain tax. If the currency with which your property is being assessed is devalued, and, even though your property was not sold, the assessor makes an educated guess as to what the price might have been had you sold and then taxes you based on that hypothetical transaction. In the case of a house, since it is not a productive asset, you simply have to pay the tax from some other source. When I first learned how this worked I was dumbfounded at how normalized this practice wasβyet people just shrug. Unrealized gain tax on financial assets seems similarly crazy but don't underestimate the ambivalence most people show after the government normalizes this kind of injustice.
Oh I just read the reposted note βlol itβs about property tax. I just assumed it was about bitcoin or financial assets after only reading Derekβs quote note
paying any taxes to a government that clearly doesn't represent me is stupid as well.
