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This is illusionary, as billions worth of bitcoin couldn't be cashed out at once. How do they take the potential for crash into account. Also, is intellectual p
by posterboy 9y ago
This is illusionary, as billions worth of bitcoin couldn't be cashed out at once. How do they take the potential for crash into account.
Also, is intellectual property also taxed, like all the mssing
- bradleyjg 9y agoThis tax provision is not designed to be friendly. It's designed to deter what the US considers bad behavior. You can disagree that it's bad behavior, you can call the law is unfair, immoral, unreasonable, illogical -- whatever. Arguing against those positions is not the point of the post I made. My point was to point out that there isn't any loophole in U.S. that would allow a cryto billionaire to avoid capital gains taxes via the expedient of renouncing citizenship. People can try anyway and see what happens, but there's a non-zero risk that they'll be chased to the ends of the earth by the IRS and DOJ.
- posterboy 9y agoWell, at least they can't come later and claim the price increased twofold in the meantime.