BREAKING: đșđž Congressman Warren Davidson introduces "#Bitcoin for America" bill to:
- Codify the Strategic Bitcoin Reserve Executive Order
- Eliminate capital gains tax when paying taxes with BTC 
Discussion
Only removing cap gains on the BTC used for tax payments?
Thatâs a no from me dawg. Can do better than that.
Huge no for me dawg also.
Fuck that guy. What a fucking crook. Imagine saying âno taxes when you give it to the governmentâ. Also BULLISH.
Why is that crooked? Youâre going to pay income taxes. Would you rather:
1. Use the money owed for income tax to buy yourself new bitcoin, and spend the same amount of your old bitcoin, capital gains tax-free, to pay the tax bill, or,
2. Pay the tax bill, and still have cap gains tax owing on your old bitcoins?
With 1, you still have the same amount of bitcoin, but owe less tax on it, and the government grows itâs bitcoin savings. Less tax revenue for the gov, but good incentives, and the growth of savings in bitcoin is likely to make up for the loss in tax revenue over a 4 year period.
Think more
Guys! This is the dream! No cap gains when paying taxes đ
The government truly does care about us đ«
This makes sense from the federal perspective. That would be a taxpayer neutral to accumulate Bitcoin now? Maybe not though cause youâd have to print more money to cover for the amount that went straight into the strategic reserve.
Thats actually really interesting! If they really remove capital-gains tax for paying taxes with BTC, crypto people are gonna be celebrating hard.