The year is 2020

The year is 2020

>USA creates official crypto currency
>IRS implements a bancor-type protocol to allow tax payers to pay taxes on their shitcoins by transferring their shitcoins into the national reserves
>The majority of BTC and alts in circulation are largely confiscated (via taxation) by GOV
> Eventually 99% of US citizens are using only national crypto currency

Is this how it will go down for every economic nation (China, Russia, EU, etc.)?

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soundcloud.com/proofofbeats/chiken-eggs
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If those fucking kikes confiscate my coins I swear I will start a revolution.

national cryptocurrency defeats the whole purpose of it though,

bitcoin is 1 million by then we all be filthy rich

soundcloud.com/proofofbeats/chiken-eggs

>bitcoin is $1 million
>government controls bitcoin
This begs the question if all the early adopters who got into crypto because they thought fiat was shit are all filthy rich would they still bother trying to fight the system or would they be too comfy? Normalfags that got in later obviously wouldn't regardless.

And also keep in mind, while doing this GOV would keep applying regulatory pressure on exchanges so eventually liquidating your store of value becomes impossible and eventually completely relegated to the black market.

This is the /leftybiz/ wet dream.

honestly, that style is more inline with the government/corporate-banking/wall-street nepotism that Trump and current conservatives are actually facilitating. Take the new tax policy for example. It's not really in our favor, unless you're at the top of the food-chain, which I 99.99% of Veeky Forums is not.

>Take the new tax policy for example. It's not really in our favor, unless you're at the top of the food-chain, which I 99.99% of Veeky Forums is not.
Bullshit, only people that it hurts are those that run around having a bunch of kids despite making practically nothing. I didn't even make $40k this year and I'm still getting back an extra $800.

>Brain wallet
>Move to 3rd world country
>Hire bodyguards
>Sell small amounts for cash to trusted parties
>Retire.

>You will also note that relative to the House bill, the Senate proposal would force some lower-income ($38,700 - $45,000) and middle-income ($170,000-$200,000) taxpayers into higher marginal rates (12% versus 22.5% and 25% versus 32.5%, respectively)

>only people that it hurts are those that run around having a bunch of kids
you are wrong here also

>Deductions for personal exemptions are repealed, but the child tax credit is increased from $1,000 to $2,000.

You're retarded aren't you? Look at the current rate and the new rates. Every segment is higher under the current plan. The sentence you posted is comparing the House and Senate plans.

Outside of people getting butfucked by the removal of the California subsidy, everyone is gonna have lower taxes across the board.

>the senate bill forces lower income people into a higher tax bracket
You must be retarded because the image you provided only has that happening to people in the $170k-$195k and $200k-$425k ranges.

Ark will be official eu currency by way of macrons strategie council. But who knows how long eu will exist.

>you are wrong here also
No I'm not because most of the additional child tax credit is not refundable while under the current system 100% of the child tax credit is refundable. Go plug numbers in for a roastie single mother with three kids making $18k in any of the calculators comparing the differences and you'll see exactly what I mean.

How on earth would they enforce a confiscation of coins when they don't know who owns the wallets or what their private keys are? Best they can do is monitor wallets tied to exchanges and businesses that accept coins.

The republican senate bill relative to the house bill would push people within those lower income brackets into a higher bracket.

It's not clear to me why you think the republican proposal to increase the tax rate from 12% to 22.5% for people within the $38,700 - $45,000 range is good.

Venezuela already did it

Anybody know if one could just open a corporation in the Caymans, hold the crypto within the corporation, and be safe that way? I just don't know if there is still a tax implication when you pay yourself through your corporation.

You're too retarded to read a chart that you provided.
>$38.7k-$45k
>current rate: 25%
>Senate rate: 22.5%
>B-But the House rate is lower than the Senate rate
And here I thought your problem was those nasty Republicans, guess what Republicans have a much larger majority in the House than the Senate. Additionally the reason that the Senate plan is a higher rate than in the House is because they didn't want to increase the rate on the lowest tax bracket like the House did so its particularly amusing to me that you're crying about lower income people having a higher rate in comparison to the House bill(its still lower than the current law) while ignoring the fact that the House bill had a 12% rate for the bottom bracket.

>while ignoring the fact that the House bill had a 12% rate for the bottom bracke
I'm not ignoring that fact. I think it's BS. My personal opinion is that people at the bottom bracket shouldn't even pay taxes because their earnings are so incredibly low at that level. It's almost inhumane that a gov't would charge them anything.

my main point was to for claiming he "didn't even make $40k" and that it's really not in his best interest to back a republican bill that would potentially increase his taxes for next year from 12% to 22.5%.

But, you know what? my tax bracket is actually going down from 28% to 25%, so enjoy your increase tax-hike from the guys who are supposedly on middle-America's side :)

Senate bill also kept the fucking AMT

>it's really not in his best interest to back a republican bill that would potentially increase his taxes for next year from 12% to 22.5%.
Again with insisting on your retardation. Its completely in my interest to back a Republican bill reducing my tax from 25% to 22.5% at that income level. You obviously don't understand taxes. With a $39k income I will actually be in the $9525-$38,700 bracket as the $12k deduction reduces taxable income to $27k. Additional you don't understand marginal tax brackets either.

Let's take someone who made $55k(standard deduction reducing that to $43k). Under the Senate plan they would be taxed 10% on $9525, 12% on $29175, and 22.5% on $6300. Under the House plan they'd be taxed 12% on $43k. Difference is pretty marginal. Both plans are Republican plans(You know, those people you're bitching about) and both plans are better than the current tax law. Comparing the Senate plan to the House plan instead of the current law and saying that the Republicans are awful because of the differences in those two plans while ignoring that the House plan is a Republican plan and giving the impression that its not is utterly disingenous.

Yeah, you can thank Mitch McConnell and Orin Hatch for that one

>Its completely in my interest to back a Republican bill reducing my tax from 25% to 22.5%

>It's completely in my interest to give away 10.5 percent of my earnings just so I can be a team-player and back the senate bill instead of the proposed house bill

>I sure could use a 10.5 loss of my annual income

>I really like getting ass raped repeatedly by the government party I choose to support

>I prefer to vote with my emotions instead of logic, and in this case maths

should I go on?

You should go back to grade school and learn to read a chart. The current system is that column that says "current rate", not the one that says "House Rate".

look, it's not my job to teach you how to look out for yourself. But just remember when paying your 2018 taxes that you could have kept an additional 10.5% of your annual income if it weren't for your super cool conservative friends putting their cocks up your ass while giving billions in breaks to corporate institutions and banks.

>22.5% is greater than 25%

>April 2019: yes sir tax-man, please take 22.5% of my income instead of only 12%. Thank you.

The current rate is 25%, not 22.5%.

not 12%*

I know this. And that's not the point I'm trying to make, even tho you feel compelled to keep reiterating this basic fact.

The lesson is: you will have to pay taxes for 2018 and you could have saved 10.5% on your tax bill if it weren't for a republican contingent within the senate voting against your interests.

EU.....Nation. The EU will be gone by 2020.

As opposed to the democrat contingent attempting to block both bills which are superior to the current system? Sure, I'd prefer the Republican House bill to the Republican Senate bill but either is preferable to the current tax law. This insistence of yours that its all the evil Republicans fucking things up while praising a Republican tax bill is hilarious really.

>evil Republicans
They're not evil. They're just historically proven to enact economic and tax policies that usually fuck over their constituents, i.e. (You)

I never understood why people like you choose to fanatically support a party that is clearly working against your best interests at almost every level.

>But, you know what? my tax bracket is actually going down from 28% to 25%
Also, just noticed this. When it comes to your specific case you're comparing the current law to the Senate law(as the House plan doesn't have a 28% bracket to start with). Yet when it comes to taxes for others you're insisting that they compare the Senate plan to the House plan instead of the current law. Why is that precisely?

because either way, my tax penalty will be equally reduced. Yours won't be equally reduced. Therefore you have more at stake depending on the result.

Reducing my taxes is working in my interests. Both Republican groups passed bills that did this, just because the one that didn't reduce my taxes as much passed doesn't mean that its not a reduction.

Also you keep acting like the Senate made the changes they did to fuck over the middle class and help the rich while ignoring that the Senate plan helps out lower income brackets more than the House plan that you're praising(I mean I prefer it as well but for opposite reasons to the ones you're claiming).
I really don't because I've already explained that I'm actually in the 12% tax bracket after accounting for the standard deduction. In fact the Senate plan favors me more due to how marginal tax rates work, I've just been being generous to you and allowing you to argue the $38k-45k range because its still a losing argument for you. The Republican plan that is being passed is still a reduction in taxes. Bills always have more problems getting through the Senate compared to the House regardless of which party is in power due to the legislative laws of the Senate so its normal for them to be watered down compared to House bills and this was to be expected.

great job on being at the 12% rate. Hopefully you haven't made any gains in crypto otherwise you might get fucked by AMT

Projection. The post.
Your idiocy is truly embarrassing.

>great job on being at the 12% rate.
I'm sure that this is supposed to be sarcastic but I much prefer making $39k where I live than the $80k or so I could be making in some city where houses cost something ridiculous like $400k for something decent.

the year is 2020
>gov keeps printing paper
>nothing has changed because people just use apple pay and the same android thing instead of credit cards
>cash is slowly being removed from circulation

Is this why XMR will be the next king?