Biden: «It’s so tough to get rich and productive people to flee away from our country.»
Harris: «Hold my Bud Light..»
Discussion
Can we see the real numbers? This is fox my friend 😁
She can go fuck herself
So if you have 100'000$ of bitcoin one year, next year it worth 200'000$ you must pay 25'000$?! If you don't have cash to pay you sre forced to sell these 25k but then you pay 44% on your gain, so you need to sell 38k worth of bitcoin to get 25k to pay your taxes. Next year it retract by 60%, your 162k worth 65k, do you get something back for the unrealized loss? i guess not.
Then another year it's worth 165k, you pay 25k again, so you must sell 38k to pay, ending with 127k instead of 200k if you had not sold anything?
Am I understanding it right? In my country, Switzerland, there is no capital gain tax and my bones are chilling just to think about it. We have a wealth tax however, that start around 100k of fortune with 0.1% then can rise to 1-2% for some millions. You pay on the total of all assets, including unrealized value, real eastate, gold, valuable art piece, cars, boat... Not great but much more fair in my opinion.
Income tax are also much lower than all Europe and many other countries. But it's always too high.