Bitcoin Forum

There are many different sentiments and comments made on taxation over the internet. On this forum we see many proposals for crypto taxation and questions asked regarding how crypto might someday be taxed almost daily.

Here's one interesting question, no one ever asks: if every tax in existence were summed together and factored against average income to derive a rough idea of how much taxes the average person pays, what number would best represent that current status quo.

There has been only one attempt to calculate this that I can remember seeing which claimed the average household in the USA pays around 54% in taxes.

https://i.imgur.com/SicGUuI.jpg

One interesting point to this is: americans had roads, schools, firefighters, police and many other things people claim we would not have without high taxes within that pre 1914 era when the wealthy paid 6% income taxes and everyone else paid a 1% income tax.

With higher taxes and greater state spending, it might be claimed that our educational standards, police standards and road standards have all declined. The world is becoming a darker, less prosperous and more unhappy place as taxes are hiked. If circumstances are deteriorating as taxes are increased, it could mean that leaving crypto untaxed lies within not only our best interest but within the best interest of society and civilization @ large.

Perhaps the question we might ask is how can we test a falsifiable claim that higher taxes are correlated with lower education and lower standards across the board coupled with declining freedom, health and living standards. I'm certain many of us love science and would be enthusiastic about putting such claims to the test, am I right?

It is mistaken to compare the present day with the past. Take healthcare for example. A badly broken ankle 100 years ago would simply be sawn off, with no anaesthesia and minimal pain relief. 30 minutes, two people, no technology. These days you would expect a lengthy operation to salvage it, with a team of anaesthetists, team of surgeons, team of nurses, ward care afterwards, physiotherapy, plenty of drugs, etc, etc. Things become more expensive as technology develops.

What you should be doing is comparing the US to other developed nations. For example, the US government spends almost double in terms of GDP on healthcare, yet delivers worse outcomes, than most Western European nations, and that's without even considering the expensive insurance/out of pocket fees that Americans have to pay.

Taxes increase because the government doesn't stop to borrow money, and it's done with an outrageous rate return. Most increased taxes are used to pay the interests and it's still not enough, then the government keeps to borrow money and it's like a circle.
With increased taxes, the purchasing power declines because the wages don't increase at the same level. To reduce the costs of families/govt. it is spending less on education, etc still the money has to come from somewhere for the families. It's the result of some social and politic wrongly managed (I don't say I can do better)

A central regulation would not be bad. If they put down the extent of charges reasonably, I would be willing to pay taxes, but if they want to take away like third of my profit then it makes no sense

The main thing has always been not the tax rate, but the efficiency of the further distribution of the money collected.
Second- and third-world countries have problems in this very sphere - a great part of taxes are spent on unnecessary and inefficient governmental structures or are simply stolen through various corruption schemes.

Tax questions are also quite a lot of tax articles. But most of us do not work in the field of taxation. So every statement is just a personal opinion. And what the community wants is that the government needs to clarify more equitably to keep investors safe. There are also many taxes that are not true to the fact that the community is pressing.

That is true as not all taxes are transparent and most of them is very questionable.

For instance what he mentioned is very true and compared to the tax of health care in Canada which is also high, Canadians are enjoying a very good healthcare benefits. What I believe should be done is more transparency in taxes and moving them more into reach people as they are the ones that are not being affected by inflation nor taxation and it is always the small people who suffers every year from it.