Topic: Get ready for more tax. Save your BTC! - page 5. (Read 1107 times)

The government does not have any option but to spend right now, no one from their citizen are working to pay for taxes ( for countries that is under a lockdown) and we as the citizen deserved to receive help from the government during times like this coz that is their duty, money can be earned again but the lives of many is more important right now. Products prices soon is expected to increase as we need to recover from our loss as soon as possible so we can start the normal life again.

eventually you're right, but in the next 1-2 years i think governments will be primarily concerned about getting economic growth back on track. they won't want to hamper that growth with tax hikes.

the push to austerity will vary from country to country. the USA can print a few trillion dollars without anyone caring, hence the stark difference between american and european stimulus packages. high debt-to-GDP countries like greece, italy, and portugal are more urgent concerns.

then again, the november election could shake things up. if democrats take control of the senate and/or presidency, i could see them repealing trump's $1.5 trillion tax cut passed a couple years ago.


Probably, yes. After this pandemic, they will recover from its losses due to the covid-19 and they will surely make the taxes higher because of the huge budget that they've spent. People are really vulnerable especially those who don't have a budget for more than a month of quarantine because work are also suspended. The economy of the countries really dropped as soon as this pandemic is spreading in every part of the country, maybe because of the stock market that is really necessary to proceed. Don't tell me that some other countries are controlling their economy without any damaged, only China can do that and it is suspicious how they manipulated and maintain their economy when the covid-19 really originated from them.

eventually you're right, but in the next 1-2 years i think governments will be primarily concerned about getting economic growth back on track. they won't want to hamper that growth with tax hikes.

the push to austerity will vary from country to country. the USA can print a few trillion dollars without anyone caring, hence the stark difference between american and european stimulus packages. high debt-to-GDP countries like greece, italy, and portugal are more urgent concerns.

then again, the november election could shake things up. if democrats take control of the senate and/or presidency, i could see them repealing trump's $1.5 trillion tax cut passed a couple years ago.

Many people don't realize that after the corona virus crisis ends there will be another disaster waiting. Almost all countries print money,
and its effects will be felt after the crisis is over. The government will definitely raise taxes, because it's the fastest solution to make
the economy stable again.Therefore it is better from now that we collect bitcoin or move all our wealth into bitcoin. Because only bitcoin
which is not taxed.

In most countries, governments will have no other choice but to raise taxes. They will have to be smart to avoid killing the economy, but they will need to bring more money to balance their budget (or more likely to reduce their operating deficit).

Lucky you!
I haven't find anyone willing to pay me cash or with BTC. I'm always paid with bank wires, so I had to be imaginative to avoid tax. I pay property tax and consumption tax everywhere, that's more than enough. Governments on a diet can only get better.

I hope the coronavirus will lead to a strict diet for all governments, but I know that won't happen. They'll keep on spending like crazy, and that will lead to more tax someday.

It's not that hard. I haven't paid any income tax for years. I simply conduct all business in cash and had enough profit from my Bitcoin investments to make me not worry about legal employment ever again. I'va also been employed without any legal agreements for years and have done pretty well doing it. I'm not saying that you should do it, but that's how it used to be done for centuries. When somebody wanted a job to be done they'd come to a vebal agreement with a contractor and you can guess the rest. It's today that you're forced to sign contracts and pay taxes on whatever you were paid. It doesn't mean that this is the only way to live.

It depends on the country you are living if your country considers crypto as an asset then you may be supposed to pay taxes even for holding bitcoin.

Some countries consider it as an asset you you need to pay taxes for your capital gains and some other countries asking corporate taxes for the profits you made while holding cryptos.

you havent paid tax since a long time ago  ? how come its possible ? or maybe your just a small time person that doesnt have a huge house or business , etc something like that  . anyway i think there will be no taxes to be payed yet or it will be lesser now that we are still in a bad condition . i think they will understand that themselves but sure they can double it soon as long as we are now on recovery and people are also going to understand it   . but why suggest saving btc  ?  i think by using btc we are still obligated for taxes

"The liquidity and cash phase is coming to an end," White House National Economic Council director Larry Kudlow cautioned in recent days. He signaled a return to the president's pre-pandemic agenda, including tax-cuts and infrastructure investment.

You should worry about more taxes on cryptocurrency if you use cryptos for taxable events (trading cryptocurrency to fiat, or crypto to crypto, using cryptocurrency for goods and services, earning cryptocurrency as income). But crytptocurrency transfer and buying crypto with USD aren't considered as taxable events.