You are viewing a single comment's thread from:

RE: New Legislation Would Make Bitcoin Transactions Under $600 Tax Free

in #bitcoin7 years ago

This is a very good first step. Because it's absolutely ridiculous to try to tax Bitcoin or any other cryptocurrency with a 15% capital gains which only encourages people to hold their currency as an investment for a second reason.
Where as if Bitcoin was allowed to freely move throughout our economy, that same thousand dollars -which would yield $150 in capital gains taxes would quickly generate even more taxes if it was allowed to circulate freely generating at least 5% sales tax would lead to $1,000 in taxes after circulating just 20 times.
I just think governments are absolutely stupid, they've obviously gotten too big and have too much control.

Coin Marketplace

STEEM 0.27
TRX 0.11
JST 0.030
BTC 69671.74
ETH 3835.28
USDT 1.00
SBD 3.49