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US govt getting hungry for tax revenue. Expect more actions like this being taken in 2021.
by gt565k 6y ago
US govt getting hungry for tax revenue. Expect more actions like this being taken in 2021.
- drchopchop 6y agoOr they're just, you know, prosecuting crime, which is their job.
- jchallis 6y agoSEC is pretty far from the tax collecting end of the house. Whatever their sins, greed for tax revenue is not a fair one.
- karmasimida 6y agoAnd? Go fight them in court if you thought you would win, the crypto folks should have enough money for now.
- marcinzm 6y agoTaxes are part of the social contract for living in the US. If you don't like it then you can try finding a different country to live in. But don't act surprised when trying to skirt around the contract gets you in trouble.
- ur-whale 6y agoWhat contract? I don't remember signing anything. Do you?
- makoz 6y agoI didn't realize we were suppose to sign social contracts, must've missed that memo.
- google234123 6y agoDid you sign anything agreeing to not murder?
- shadowfiend 6y agoHave you signed any contracts at all in your life? The protections and restrictions from that contract are enforced by the same mechanism, via the same social contract.
- kolbe 6y agoHonestly, if you don't know what terms like "social contract" mean, you should go read what it is, not just antagonize the person who's sharing an educated opinion with you.
- deleted 6y ago[deleted]
- newguy1234 6y agoAre you aware that the USA taxes worldwide income of US citizens?
- modeless 6y agoAnd before someone counters that you can renounce your citizenship, they tax that too.
- codegeek 6y agoI don't like it particularly but let's be specific here. There is a threshold until which you don't get taxed. I remember it used to be about 90K USD/Year but I am too lazy to google right now.
- nostrebored 6y agoRight, so basically the majority of middle to upper-middle class expats. People with enough money to be 'fat cats' have tax shelters.
- marcinzm 6y agoYou can renounce your citizenship and pay the related fees/taxes for X years. Granted, you need to leave early and not just right before a windfall but if you really philosophically disagree with the contract (rather than just being greedy) then that's not much of an issue. Of course, most people who talk about this are totally fine with having the advantages of the social contract but wish to skip out once they need to pay up for them.
- deleted 6y ago[deleted]
- raiyu 6y agoCryptocurrencies are already taxed. The amount the SEC will collect here if they win will be peanuts compared to tax revenue and they aren’t going after regular folks but instead the alleged security issuer. They also have to do this because according you the definition there are plenty of bad actors using the same schemes to sell investments to folks so they have to enforce to reduced fraud overall.