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RE: BITCOIN IS A SCAM - Your Daily Hash - 9/13/17
"There will be no currency that gets around government controls" guess what JP Morgan, there Already is. Just like a similar demoralising comment a few months back from Mark Cuban. Markets fell, but then rose again. It is truly so stupid to try and control every dime we make. Did you k new if you gain anything in excess of $600 from say a yard sale, a small side job, or even a gift you are supposed to report that to the almighty government? Ridiculous
They want to control every aspect of your life. They want to tax every dollar down to the penny.
It is atrocious
I read somewhere that there was legislation being pushed to allow people to not have to report taxes on transactions under $600 (correct me if I'm wrong, PLEASE ) involving BTC. How do you feel about that?
THIS ARTICLE: https://www.coindesk.com/us-lawmakers-seek-tax-exemption-bitcoin-transactions-600/
I Was talking about ANY extra money/income you make period in excess of $600 to include "gifts" "have" to be reported. I don't follow that bull shit. They already take enough out of My job I spent 6 years in college for. I only learned of that $600 rule last year by the way when i was working for my friend who had me filed as a "contractor " for her business. Therefore she took no taxes out of my check, and anything over $600 i would technically be legally required to report. ..
Oh yeah that definitely sounds like some bullshit. I'm assuming you didn't file a report?
It Was an as needed job that i took on near the end of the year. I didn't actually exceed $600.
But if i counted all gifts (birthday, congratulatory), randomly made money (ebay, sold something, etc etc), won something small (NOT counting lottery), I know I exceeded $600 even if not by much. If you think of it $600 in a YEAR isn't that much. Stupid to have that to be taxed. Especially when they're already taxing my other shit at an astronomical amount. (imo)
Large sums of say, lottery money is different. Esoecially when considering everyone who put into the pot. If pure luck is how you received a large sum of "unregulated" income well, that's different.