Sure, but what about the value of bitcoin as something that cannot be taxed? I have heard it will help restore and perfect private property in the future.
Discussion
you would have to talk to a tax specialist about that.
evading taxes is the quickest path to prison.
Hunter Biden ( son of president ) just pleaded GUILTY to tax evasion.
I know a certain person from a certain country who has millions of dollars in bitcoin and is not arrested over only paying taxes via his poor normal cash.
Also, sure. Can lead to prison but even then the judge can't actually remove the bitcoin.
if he only keeps that B1tC0iN and never uses it he will never need to pay tax
but the point of money is to use it to buy things
if people manage to avoid paying Income Tax the government will move to switch taxation to Sales Tax instead in which case you will be paying tax on your B1tC0iN when you use it
the reason Income Tax is more popular than sales tax is because Income tax can exceed your total spending whereas sales tax can only be a fraction of it - and government wants to take as much of your money as possible
He does use it, but for private stuff not regulated by the government.
I mean, if the gov does that, I call for a revolution against its commie ass.
tax strategy is always adjusted to maximize amount of extracted wealth
do you know why all the western countries are at roughly 30-40 percent tax ? because economists have found that making taxes even higher would REDUCE tax revenue by killing the economy. you can't tax bankrupt businesses.
if the situation changes they will change the taxation scheme to continue extracting maximum revenue.