Topic: [2021-07-08] Bitcoin fixes this’ — US Infrastructure Bill would add $250B to deb (Read 80 times)
August 08, 2021, 12:54:36 AM
The current political leadership of USA is gambling the future of the next generation and the next to the next. Time is coming when this unbelievable mounting debt will be haunting its economy to the ground. An economy that is relying more and more on acquiring debts and printing more paper money will have its judgement day soon. Sadly, this Infrastructure Bill will be known in the cryptocurrency history to be a bad omen for the people and only time can tell what would be its visible side-effects on the industry the government is trying to regulate on.
August 06, 2021, 10:59:30 AM
Bitcoin fixes this’ — US Infrastructure Bill would add $250B to debt mountain
The United States tax bill, which could hurt Bitcoin (BTC) and crypto holders, will “continue the plunder of future generations,” Cameron Winklevoss argues.
According to new estimates, the proposed Infrastructure Bill currently under discussion in Washington would pile on an extra quarter of a trillion dollars in debt.
Bill may add $256 billion in debt
As the contentious bill makes its way through government, crypto voices continue to warn about a potential tax nightmare, which, they argue, can still be easily avoided.
As Cointelegraph reported, language in the Bill may place undue demands on hodlers and businesses alike.
An effort is currently underway from pro-Bitcoin senators and the crypto industry to change the Bill’s phrasing to reduce the future burden.
Nonetheless, the Bill in and of itself is a cause for concern on an economic level, Winklevoss said.
“The infrastructure bill is estimated to add another $256B to the federal budget deficit,” the Gemini exchange co-founder tweeted Friday.
“It will not be fully paid for. The plunder of future generations continues. Bitcoin fixes this.”
His words come the week after the Federal Reserve saw a new record on its balance sheet, which topped $8.24 trillion for the first time on July 26.
Read more https://cointelegraph.com/news/bitcoin-fixes-this-us-infrastructure-bill-would-add-250b-to-us-debt-mountain
The United States tax bill, which could hurt Bitcoin (BTC) and crypto holders, will “continue the plunder of future generations,” Cameron Winklevoss argues.
According to new estimates, the proposed Infrastructure Bill currently under discussion in Washington would pile on an extra quarter of a trillion dollars in debt.
Bill may add $256 billion in debt
As the contentious bill makes its way through government, crypto voices continue to warn about a potential tax nightmare, which, they argue, can still be easily avoided.
As Cointelegraph reported, language in the Bill may place undue demands on hodlers and businesses alike.
An effort is currently underway from pro-Bitcoin senators and the crypto industry to change the Bill’s phrasing to reduce the future burden.
Nonetheless, the Bill in and of itself is a cause for concern on an economic level, Winklevoss said.
“The infrastructure bill is estimated to add another $256B to the federal budget deficit,” the Gemini exchange co-founder tweeted Friday.
“It will not be fully paid for. The plunder of future generations continues. Bitcoin fixes this.”
His words come the week after the Federal Reserve saw a new record on its balance sheet, which topped $8.24 trillion for the first time on July 26.
Read more https://cointelegraph.com/news/bitcoin-fixes-this-us-infrastructure-bill-would-add-250b-to-us-debt-mountain
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