How about billionaires like Elon pay 50% tax on his income like the rest of us
Discussion
How about you stop being a spiteful little bitch and evade taxes instead
Why should i?
Because your not being effective and asking government to solve you problems strips you of your personal agency. Operate outside the system and regain sovereignty
Im not asking the government to solve anything for me. Just pointing out how retarded your message is. Literally defending the assholes pillaging the system. And i thought normies were dumb.
Ngmi
Think i will. Stay soverign boot licking billionaires.
How do you know im not one leechy boi
Come and tax my bitcoin/monero lmao
Ross and Roger both bent the knee. You are the same.
Ok whatever you say kyc boi
Really its funny, your comparing me to famous public figures when my media exposure is 220 followers to a fake name on an npub
Never met such a gov cucked bitcoiner. ThE GoVErnMenT Is GonNa GeT Uuuu (karen voice)
I am monero now. I join you. I am Firecutus of Monero. http://blossom.happytavern.co/6df40a4dfdb3cc22c914d8eeb829a1f60e3be8ef83d86e979038334741e5aea6
Im a bitcoiner. monero is bitcoin layer 2
So how does that work?
Spend in monero save in bitcoin
Why not spend and save in #monero xmr? Obviously past price indicates xmr losing relative value to btc.
But my question is I'm really just asking why not apply that principle to xmr too?
Exchanging btc to xmr will still expose your btc addresses and utxo traces to third party.
Xmr is private by default
I have my btc utxos are split into small hot wallet size amounts 200-300 dollars. So i send the only utxo associated with that address to an exchange and its not connected to any other transaction. The every other crypto priced in bitcoin charts is exactly why i only save in btc
That's a better practice for sure, but I'm going to guess most people aren't so aware of this or they don't coin control and may sooner or later leave some kind of link to different utxos
You can do it pretty dummy proof with silent payments on cake
Trocador.app
Thanls Fren. You are right. This is the way.
All are welcome in the New Church of Crypto Isomorphism 🫶
There's two elements
1. The legal practice now
Elon is able to avoid taxes since a notable percent of his wealth is in a Roth IRA, which isn't applicable to tax, and then Tesla stocks he has in a Brokerage account he borrows against using Collateralized loans, so legally he's in debt, he doesn't have any income.
He's only hypothetically worth that, not worth that in actual liquid value.
2. The theoritical problems
Let's assume the government decided to increase his tax burden, as we saw with California, he moved from California (A High Tax State) to Texas (A Low Tax State) increasing his taxes would result in a few different things.
1. He has to sell off company assets, like rockets, metal, robotics, etc. which would reduce the productive capacity of his business.
2. He would have to sell off his tesla shares which would devalue his company, and hurt investors eventually leading to less investment.
3. He would have to use the company profits which usually are reinvested into the company as R&D, employees wages, materials, etc. which would prevent the company from growing, and that's assuming the government was nice enough to let him use corporate profits to pay for his personal, and corporate taxes.
4. The Tax Burden would cause him to leave to a lower tax country like Switzerland, Ireland, etc., or to any country that gave him a favorable deal, in exchange for taxes.
Effectively taxes go from value producers to value parasites.
If you want the wealth of the economy to grow then reduction of taxes generally helps overall, as it allows individuals to do what they want with their own money.
Seems all positives to me. When taxing the fuck out of the asshole? Happy to escort the cunt somewhere else too.
It's also a common strategy for billionaires to take out loans and put their stocks and shares as collateral, therefore they pay little taxes because debt isn't considered income and therefore not taxable.
Therefore, being able to successfully tax the rich would mean having to create a new debt tax. Do we really want to create extra burdens for the working and middle classes that are experiencing debts such as student loans or medical debt?