Topic: Get ready for more tax. Save your BTC! - page 3. (Read 1107 times)

You cannot say to just stop transacting when this is your way of living,if
 you are investor or businessman when the daily routine
 is trading or transacting then what can we do?our world will continue even
the pandemic effect will last long so maybe what we can
 do is lower our expenses and tighten our belts so we can survive in this
 situation since i believe that this will last for
 more than a year or 2.

I accept as true with you that the govt will increase the quantity of taxes but only after the market stabilizes. nobody is going to be ready to pay during the epidemic. But if we save BTC then the govt won't need to pay any tax from here it's not under the control of the govt we will buy and sell coins as we wish.

The amount of taxation may increase, but the government introduces this only to stabilize the economy. I do not advise you to make various transactions during a pandemic. Wait, the market situation should stabilize.

You are right, it's the system of oppression, but more of a system that allows the politicians to realize their goals at your expense, because they are not your goals, they are their goals.
How does it benefit the average taxpayer that the government builds itself a new marble statue, or a marble staircase in one of their buildings? How does it benefit you that they hire a PR firm to make them look good?
It's common knowledge thet a large portion of tax money gets wasted on stupid things and that the more they get from you the more they'll be able to waste. If a politician manages to get another 1% from you, he'll be able to give it away to his voters and buy their support, so that he can stay in his chair for another term. I've seen it done so many times because for 1 average rich person there's always 3 people on benefits. If you take away from that 1 person and give it to those 3 you'll statistically gain 2 votes. Socialism is still alive and doing well.

Therefore, you need to invest in something that cannot be printed in huge quantities, Bitcoin, other cryptocurrencies, gold, works of art. They certainly will not be able to depreciate, because of the monetary policy of any bank that decided to print a couple of wagons of money.

       I am worried about this incessant printing of money during this period. It is true that the virus must be fought, but inflation is rising. An extreme case is Venezuela, where the money has no value and I think it can be found on the street. Regarding the spending of governments worldwide, citizens will also have to lose because taxes will be higher, and normal people will go through a difficult period and after the end of the pandemic.

We have to stop looking at taxes as a mighty system for achieving social goals, which merely needs to be made “fair” and rational in order to usher in Utopia. We have to start looking at taxation as a vast system of robbery and oppression, by which some people are enabled to live coercively and parasitically at the expense of others. We must realize that from the point of view of justice or of economic prosperity, the less people are taxed, the better. That is why we should rejoice at every new loophole, new credit, new manifestation of the “underground” economy. Every economic activity that escapes taxes and controls is not only a blow for freedom and property rights; it is also one more instance of a free flow of productive energy getting out from under parasitic repression. Long live BTC!

That would be big success for the crypto market, we will be recognize by the government, we will be regulated and it will help to attract people to invest more in crypto and the adoption we are looking will definitely increase. Taxes is normal, once the government regulate a certain industry, they also collect taxes at the same time.

They won't raise taxes next year because the economy is also difficult to recover immediately after the pandemic and the unemployment rate is still very high but they will levy taxes on markets that they didn't care about before. What you think is true, many countries will be more interested in the cryptocurrency market, they will impose taxes on exchanges.

taxes will probably go up for next year in all countries because of the crisis due to the coronavirus that must be experienced in almost all countries to restore the economy of a coronavirus. all countries that who uses cryptocurrency will be charged this would probably take effect next year as a result of the pandemic global all countries expect to recover gradually to return to restore the economy.

I think that during the global economic downturn due to the current COVID-19 epidemic, many large and small businesses have difficulties in doing business, workers are unemployed. The government will not raise taxes on people or businesses because this measure will make the economy worse. The government is printing a lot of money to support people and businesses in this difficult time. But printing too much money will lead to inflation and the price of goods will rise sharply.

That's right, that's why hold crypto as your investment in the future because price might increase significantly as the demand increases.
We are in crisis right now, and that will affect the future value of our fiat, if you put money in the bank, it will just be hit by inflation because tax will certain increase for the government to get what they spend in this crisis, for now,  I can think of working is just to at least get some alternative of income and to be able to build a credit line since you can't borrow money from the bank if you don't have a legitimate income.

You would think that it is aiming at the higher people but the reality is that the difference between "middle class" in turkey and poor people are getting closing and closing more because it hits the middle class more than the rich people.

Stuff like iphones or new playstation or whatever increasing is not "aiming at rich", sure it is not new tax on potato, sure it is not for bread, I mean if we are talking about just the survival stuff, the taxes staying same there, and if we are talking about "luxury" stuff as iphones, then yeah we can say that they are doing taxes well.

However I believe regular life stuff should not really be that high taxed, cars, houses, those are already taxed high, maybe increase the taxes on houses over 1 million dollars a lot more, maybe yacths, maybe give the super rich people some more income tax when it reaches over 10 million revenue per month. When you do tax a playstation, that can't be considered high end luxury, that is just middle class, even some poor people have it these days.

Well, I guess there's a silver lining of being not yet employed because there is no taxes that I need to pay . Plus, there is no concrete regulation with regards to crypro earnings here in our country so I can freely enjoy all of my btc savings without any major deductions. However, I make sure that I will not feel comfortable and do unwise spendings. I just continue saving money to have a reserve in this crisis times.

But no government I going to do that, they will ask their people to balance their economy by paying all the money that everyone can earn.So we are just a slave to our country to be honest.I feel the old age or even stone age is better than the modern world.

Third world country can survive without collecting any taxes they can delay the collection but its not good to reduce it right now because of the calamity and the economy must survive and wis this challenge. Taxes will be more high because of what happened to most of the country, they forced to borrowed funds from the World bank, bitcoin can be a good investment because it is still not taxable in many countries and it keep on rising, we always need to be ready for every challenges and on any trend of the market.

I don't understand this "governments will have no other choice but to raise taxes" argument.

It is just another excuse to tax us to death. If the government is facing a shortage of funds, then they should reduce their expenditure. A lot of the government expenses are directed towards wasteful spending. The solution is to reduce such expenditure and not to go after hard working people. We are already over-taxed. It is not possible to feed the government machinery anymore.

According to leading economists and financiers of the United States of America, the country should return to strong economic performance after a few months.  That is how much the US economy will need to return to its initial levels before the coronavirus pandemic.  The media stated that the US Senate passed a bill where $ 2.5 billion is allocated to support the economy, and the US Treasury is planning to pay about $ 2 billion for small businesses that suffer from the coronavirus pandemic.  That's just filling the budget is probably happening at the expense of citizens and it seems to me that the main burden will fall on the shoulders of ordinary taxpayers.

The government should consider the fact that everyone is not doing any thing to get a money, all of us have just what we have saved from working and some relief that is given to us. The government should choose the long road for recovery, they should not impose higher taxes just to recover the losses that they have got in expense of people's hard work money. Tax is progressive but do not increase it by a sudden because of the damage recovery idea.

The world and countries will face an economic double shock both on the demand and supply side. Disruption of the global supply chain, social distancing, and smooth flow of cash will affect the supply side. Meanwhile, the threat of a wave of layoffs and reduced daily income affects the demand side.

Expansive fiscal policy is often an option taken by many countries when facing a corona pandemic. Great shopping and relaxation tax collection are the main moves. In a pandemic condition, the tax sector will be hit hard, namely, an economic slowdown that reduces the tax base and tax expenditure will be disbursed. Steps taken by the government in the short term will affect the medium-long term fiscal posture. Relaxation now may have an impact on excessive collection in the future.

One that needs to be anticipated is the tax authority's strategy to increase compliance. Covid-19 pandemic provides an important lesson for all tax authorities, namely information technology-based tax administration readiness. The use of IT will be developed not only for services and reporting, but also extends to auditing, access, and the use of artificial intelligence. The principle of tax administration based on transparency, efficiency, and real-time will be fully supported by information technology. In addition, trends in strengthening tax authorities, changes in business processes from the ability to access to information processing capabilities, and expansion of the cooperative compliance paradigm are expected to increase to optimize tax compliance due to pressure to overcome deficits and debt, and efforts to maintain economic stability will encourage various changes in tax regulations.