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> According to Bukele, the residents of Bitcoin city won’t have to pay any income, property, capital gains or even payroll taxes. The city would be built with a
by MisterSandman 5y ago
> According to Bukele, the residents of Bitcoin city won’t have to pay any income, property, capital gains or even payroll taxes. The city would be built with attracting foreign investment in mind.
More importantly, this has nothing to do with Bitcoin. You could just as easily make a city that is paid in normal currency, but has none of those taxes. It's literally why Dubai is how Dubai is (virtually no income tax)
- ttfkam 5y agoDubai has oil. And slaves.
- fakedang 5y agoDubai doesn't have oil. It's a tax haven that specifically focused on tourism, trade and finance (and now tech) because of a lack of oil. Compare that to Abu Dhabi which has massive oil reserves, is largely bureaucratic and is still long oil. On a tangential note, Dubai is heavily burdened with debt post 2008, largely to Abu Dhabi, so that's one data point going counter to the premise of the article.