Should there be a tax on capital gains? - page 5.

BeGoods

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Quote from: Barbarian on August 21, 2018, 08:40:12 PM

Quote from: Alfiehob on August 16, 2018, 03:28:26 AM

Quote from: Barbarian on August 14, 2018, 11:42:59 AM

Quote from: TiceOwil on August 07, 2018, 07:56:41 AM

Quote from: joerogers8 on July 31, 2018, 07:32:52 PM

Tax is a form of slavery and theft. So my answer is no to any sort of tax including a capital gain tax. Hopefully one day we stand up and say no more. Bitcoin is a way to free money and freedom.

Wow, that is an interesting comment. If you say no tax at all, how then do you think government will earn revenues for national development?
All governments around the world depend on national tax is a way of income. I am not advocating for taxes, but looking at what these taxes bring if the right people are managing them, its there for all to see. More over, it will be very difficult for a nation to stand without taxes in this current capitalist world.

Some level of taxation is necessary but in some countries that level is very high, above 50% and in my opinion that is slavery, what kind of motivation you have to work hard when half goes to the governments, in the past the level of taxation was low and you were only taxed heavily in the case a war broke out.

Yeah you are right. We are citizens of our country. We love it and we can die for protection and safety of our motherlands but why these politicians took us so easy every time. They come to power and use it for their own personal benefits. Every money laundering case is filed against politicians and all such stigmas that are eating us against such heavy taxation and fill their bank accounts.

I agree, there are some that are completely against paying taxes and I understand why they think like that, but politicians are abusing the trust from the people, paying a flat 10% tax on your income will be fine by me since governments should not need more than that, but as I said paying 50%? No way.

Lol is a legal theft if the government asks for 50% tax on your income. it is a form of cruel power in its people. if the tax is as high as that of course no one will pay it. but in my own country there is no such high tax dude. the most common is around 10%. even so I am still very difficult to pay for it lol. but for the good of the country I paid it

el kaka22

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Quote from: TiceOwil on July 30, 2018, 06:41:16 AM

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

Income taxes and capital gains are different though. I mean yeah you can pay some sort of your salaries parts to government, I get that. However I do not understand why you need to pay huge capital gains on your investments as well. I understand there are people with billions of dollars who only make money on capital gains but there are also people who saved up like couple thousand dollars at most and you are now taxing that too on top of his income. I think you should put a limit on it.

Like maybe capital gains tax on people who have over $100k invested and no taxes for people who have less than $100k invested. That way you won't punish the little guy but still make a killing of the money you make on the wealthy. Too socialist?

ufaiz50

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Quote from: TiceOwil on July 30, 2018, 06:41:16 AM

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

In my country taxes for capital gains already exist but that includes income tax, in fact for investors I am also confused because of the calculation of how profit is made and for now there are still many gaps to avoid that tax. I agree with you to make tax regarding capital gains as long as it is not so burdensome for medium investment.

aso118

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Quote from: TiceOwil on July 30, 2018, 06:41:16 AM

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

There are actually 2 questions here - should people be taxed on capital gains and (if the answer to the first question is yes) what should be the rate of tax on capital gains. Most countries tax capital gains, but tax them at a lower rate than income. The reasons are two fold - one is that capital gains are made after investing income which has already been taxed. The second is to provide an incentive to people to invest, rather than spend their money.

localcrypto

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No there should be no tax in capital gains the main reason is gains are uncertain but where as there is no chances of loss so govt should nt tax on capital gains

tubig123

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I will not tolerate if there will be a tax on capital gains because tax is like a bloody money can helped improved infrastructures in other words I agreed taxes implemented into a capital gains for economy progress.

deppil

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Quote from: Visteryy on August 16, 2018, 04:37:44 AM

Quote from: kolsernik on August 01, 2018, 08:29:57 PM

In many countries, people pay income tax.In principle, I think it is right.All law-abiding citizens must pay taxes on any activity that generates income

I think it is a good idea to collect taxes in order to serve the society. That represents the payment for what the market has brought to the environment. Need to be maintained for better remedies to ensure human health. It is also good if the tax is fulfilling its role.

I'm not a problem with the tax that will be applied to bitcoin users when they make a profit from bitcoin. but in my opinion the problem is how to implement and how it works this on bitcoin users. considering anonymous bitcoin there is certainly no obligation whatsoever for them to pay tax

Barbarian

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Quote from: Alfiehob on August 16, 2018, 03:28:26 AM

Quote from: Barbarian on August 14, 2018, 11:42:59 AM

Quote from: TiceOwil on August 07, 2018, 07:56:41 AM

Quote from: joerogers8 on July 31, 2018, 07:32:52 PM

Tax is a form of slavery and theft. So my answer is no to any sort of tax including a capital gain tax. Hopefully one day we stand up and say no more. Bitcoin is a way to free money and freedom.

Wow, that is an interesting comment. If you say no tax at all, how then do you think government will earn revenues for national development?
All governments around the world depend on national tax is a way of income. I am not advocating for taxes, but looking at what these taxes bring if the right people are managing them, its there for all to see. More over, it will be very difficult for a nation to stand without taxes in this current capitalist world.

Some level of taxation is necessary but in some countries that level is very high, above 50% and in my opinion that is slavery, what kind of motivation you have to work hard when half goes to the governments, in the past the level of taxation was low and you were only taxed heavily in the case a war broke out.

Yeah you are right. We are citizens of our country. We love it and we can die for protection and safety of our motherlands but why these politicians took us so easy every time. They come to power and use it for their own personal benefits. Every money laundering case is filed against politicians and all such stigmas that are eating us against such heavy taxation and fill their bank accounts.

I agree, there are some that are completely against paying taxes and I understand why they think like that, but politicians are abusing the trust from the people, paying a flat 10% tax on your income will be fine by me since governments should not need more than that, but as I said paying 50%? No way.

gambitcoin53

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of course it will be taxed, just like any other investments, properties and wages. capital gains are considered wages or profit from any given investments, and is subject to taxation, i think any countries have laws on that and is already an international laws, there are laws too on taxed profit coming from other countries. so basically it is legal.

kenlyresuello08

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Quote from: joerogers8 on July 31, 2018, 07:32:52 PM

Tax is a form of slavery and theft. So my answer is no to any sort of tax including a capital gain tax. Hopefully one day we stand up and say no more. Bitcoin is a way to free money and freedom.

so your thinking that you will earn money without paying any tax??

anka33

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maarx

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Quote from: krishnaverma on August 19, 2018, 12:31:58 PM

Quote from: TiceOwil on July 30, 2018, 06:41:16 AM

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

In my opinion, there are already a lot of taxes on people. The problem is not having less taxes, it is regarding collection of the taxes. most of the big earners are able to evade taxes using various loopholes and that is a big problem in my opinion. We should work towards making everything more transparent. Even crypto can be used for this purpose as it brings transparency and easier access for past transactions.

Agree with you. Though set rules are practiced people tend to skip few things via so many loopholes. But still yes there should be laws and they should be followed on taxing on capital gains. But should it be done amongst the countries who have not accepted bitcoin? I would not accept paying tax on my bitcoin or any other crypto currencies' capital gains to my country if it does not accept crypto currencies.

krishnaverma

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Quote from: TiceOwil on July 30, 2018, 06:41:16 AM

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

In my opinion, there are already a lot of taxes on people. The problem is not having less taxes, it is regarding collection of the taxes. most of the big earners are able to evade taxes using various loopholes and that is a big problem in my opinion. We should work towards making everything more transparent. Even crypto can be used for this purpose as it brings transparency and easier access for past transactions.

just_Alice

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Quote from: joerogers8 on July 31, 2018, 07:32:52 PM

Tax is a form of slavery and theft. So my answer is no to any sort of tax including a capital gain tax. Hopefully one day we stand up and say no more. Bitcoin is a way to free money and freedom.

Tax isn't a theft, it's necessary for the cycle of money and economics in general, how else would money come back to the central government budget? I agree that in some countries, especially developing ones, governments do steal a lot of money and that's why things are turning ugly out there, because money that was derived from taxes should be spent on governmental and social needs, e.g. supplementary benefits, country reconstruction, subsidies and national improvements in whole. If there are no taxes the country not only will stop developing, but will begin to fade. Let's take Austria, for example, this country has one of the biggest taxes - 55%, but people live in affluence there, have lots of opportunities and high salaries, clean and smooth roads, comfortable conditions in short, so taxes aren't hindrance if used properly.

Vinalians

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There should always a tax in any income that you can claim in any legal business or work that you are doing. Some people manage to hide their real income for them to decrease the tax that they are paying. Paying tax is good in the economy because it can give us more service from the government.

andriarto

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Quote from: alp on August 19, 2018, 04:48:07 AM

Quote from: TiceOwil on July 30, 2018, 06:41:16 AM

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

I also came into my head the idea that the tax should be on profit. That is, exchanges that trade currencies should deduct tax in favor of the States. I believe, it is not necessary to register them in tax havens. Ordinary citizens who bought 1 bitcoin and earned a little on the course, they do not need to take the tax. And here who trades-from them it is necessary.

i think that by buying or selling bitcoin, taxes will be included, and I think that's the best thing, i personally don't mind having to pay taxes, because the state needs it for development of a nation

eaLiTy

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Quote from: Visteryy on August 16, 2018, 04:37:44 AM

Quote from: kolsernik on August 01, 2018, 08:29:57 PM

In many countries, people pay income tax.In principle, I think it is right.All law-abiding citizens must pay taxes on any activity that generates income

I think it is a good idea to collect taxes in order to serve the society. That represents the payment for what the market has brought to the environment. Need to be maintained for better remedies to ensure human health. It is also good if the tax is fulfilling its role.

Taking taxes and serving the society, it would be great if the governments around the world will adapt blockchain technology and make these transactions transparent so that the tax payers have some idea on what these amounts are being allocated, i live in a democratic country and i would like to have these transparent transactions and when it comes to capital gains, sure you must pay your taxes in that category even though there is no rules regarding that to avoid further trouble.

alp

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Quote from: TiceOwil on July 30, 2018, 06:41:16 AM

According to my opinion, I think It's income and should be taxed. There should be a tax on capital gains because it's income and the current law is that people pay taxes on their income. If we want to debate or reform that policy, perhaps we should, but then it should be targeted at all kinds of income taxes, not just capital gains taxes. Getting rid of capital gains taxes by themselves is simply a way to cut taxes on the rich, because the rich make more money through capital gains than poor people do.

What is your thought on this matter?

I also came into my head the idea that the tax should be on profit. That is, exchanges that trade currencies should deduct tax in favor of the States. I believe, it is not necessary to register them in tax havens. Ordinary citizens who bought 1 bitcoin and earned a little on the course, they do not need to take the tax. And here who trades-from them it is necessary.

pawanjain

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I don't think there is any harm in giving tax to the government as it helps us in way or the other. I support giving taxes but there should be fair rules like a minimum income from capital gains should be required to pay the tax. Why should we pay tax if we don't so much. Also, the % of amount to be taxed should be reasonable. In my opinion it can be up to 20% and anything more than this would be an unreasonable amount to be taxed.

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Quote from: Vashti on July 30, 2018, 06:46:41 AM

If the law said there is a need to tax all capital income then everyone are force to abide so, since this is a law.
But for now we don't have law reinforcing that we need to pay tax on crypto.. . So let's enjoy the moment..

So true. If the law stated then we must abide. Taxes is define as a tool.in which the government can get something to find thre projects thay will benefit citizens. Therefore it is not bad if there will a tax. Because tax is for us individual. Tax is a huge help for us.

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