Should there be a tax on capital gains?

[senin]

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?

Capital gains tax is a normal and allowable tax if such capital is determined in the usual hard currency. However, cryptocurrency has its own characteristics. It has a very high volatility. If we have to pay tax because the cryptocurrency price has gone up, then we should have some tax breaks when its price falls. Otherwise, there is no proportionality in revenues from cryptocurrency.

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[airdropcoin]

Taxation of capital gains is the most correct way. Banks support capitalists in order to get returns from taxes and interest, which is more conducive to even distribution. But all this is a joke of capitalism, and the rich will not become poor because of taxes. The poor do not tax but are poorer. So now the cryptocurrency is still free, it has become a paradise for capitalists and the poor.

[Ozero]

No, I think that the capital gains tax cannot be applied to cryptocurrency, because it has a very high price volatility. It turns out that capital gains can be calculated at the end of the year, when the cryptocurrency will have a high price value. We will pay the tax, based on the high existing prices for cryptocurrency, and after that it can drop in price over the course of the year. Nobody will compensate us for the damage. By the end of the year, the situation may again happen.
It seems to me that income tax is best for cryptocurrency. Moreover, it would be nice if banks or exchangers calculated this tax automatically when selling cryptocurrency without identifying the data of the seller of cryptocurrency. This will be less of a problem for everyone.

[xiaoY]

The taxation of capital gains is almost impossible to achieve. Rich people are usually professional financial planners. They will not let the money be given to the government. High asset taxes are very difficult to implement because capitalists may flee to other countries. This does not benefit the poor unless the banknotes are void.

[wuvdoll]

Maybe a bit different than other taxes but it can't be non-taxable thing. No matter what the way of gains is it is still gains and if you made money from capital gains that is still profit. Considering most people who make money thanks to capital gains are the rich folk it would be even wiser to make that tax a lot higher than other stuff. There is tax on income which is what people live on and if you are taxing peoples income than you sure as hell should be taxing the capital gains which people with money invest into stuff and make money from.

Without it there would be more rich people and there would be more investments and that sounds good but it would hurt smaller income people over higher level of income people. Rich can afford to pay 5% more taxes but when you take away %5 from poor that turns into a vital missing amount for them.

[patarfweefwee]

My take is that i should be taxed if and only if i liquify my shares. It wouldn't make sense if everytime my portfolio increases that i would have to pay taxes, not unless the government will bail ne out if i turnnout that i lost money in my portfolio. Capital gains should only apply when i convert it to cash.

[Btcmarmipp2]

For me it is right to be taxed in capital gain as long as the government use the tax that benefited by the people. But if the government will corrupt the peoples money then I will stand and fight our right not to be tax in our capital.

[Argoo]

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 am against the introduction of a capital gains tax for cryptocurrency. It is necessary to take into account the specifics of cryptocurrency, namely its greater price volatility. We will constantly pay tax, when the cryptocurrency will grow in value, and if it drops after that, no one will return the paid money to us. Cryptocurrency is sufficient for income tax and it is better to charge it automatically when selling and buying cryptocurrency.

[darewaller]

The side that keeps saying there should be either flat or very minimum tax on capital gains basically argues that if a person is willing to invest money into the economy in order to improve the companies should be allowed to not pay as much tax as others. If I am making money by working than I should be taxed an income tax same as a company getting income tax as well but when I invest I should be allowed to pay less taxes so I can reinvest my earnings back to economy to keep it alive.

Moreover, one important misinformation is that people who buy stocks usually end up buying from other people and not from companies, IPO's are a different beast but when you are buying an apple stock for example you are not buying it from apple and helping them out, you are buying from another person. So, I think capital gains should be taxed according to the level of investment and higher the profits higher the tax should be.

[pedangrusak]

crypto tax gives a lot of contribution to the state and with taxation means crypto is existent and is considered as one of the investment tools or another that is subject to certain taxes, and this is the progress of crypto in each country even though this continues to be a debate among humans

[Adegbem]

Well I will say yes, because the absence of tax on capital gains tax can distort investment decisions and also CGT can be deferred pending the time the asset are being sold, meaning tax on capital gains are being paid with ease and at a convenient time of the taxpayers, but at the other hand I will say No to tax on capital gains
Why because,  it can actually reduce the overall profit realized from the sale of the asset
In summary of it, the truth is if the government are actually allocating tax collection to useful area in the economy and it develops the economy, believe me then tax on capital gains won't be a problem or a burden on taxpayers

[Burogh]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

[kiraaa]

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 am sure that Satoshi had in his mind something similar like taxless environment where everybody can trade without to be exposed to the central influence. So, it is a bad idea.

I would agree there, of course, hard to say what Satoshi had in mind but definitely make sense!

[nur rochid]

I think its better government collecting taxes from our gain not from our trade. Cryptocurrency is investment and if we collected by our trade, its must be very huge amount we should pay on taxes. But for more safe, better keep cryptocurrency as long term investment because sometimes government policy change

every change of government, we will see a lot of changes. but I agree, if the government collects taxes from the profits we get. so that it doesn't feel too burdensome. but on the other hand the government also wants to take advantage of this activity

[mriansa]

I think some exchanges have already charged the cost of buying and selling coins and I think that fee includes the tax paid for the development of the exchange, but for taxation the ownership of the cryptocurrency assets that you have does not have to exist.

[indrakusumaindra]

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?

Well, i believe tax on capital gains already happening in our life. Its fair and it does help goverments to provide the infrastructure that could boost economy and businesses and also health life of the people.

[playboy654]

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?

Well, i believe tax on capital gains already happening in our life. Its fair and it does help goverments to provide the infrastructure that could boost economy and businesses and also health life of the people.

paying taxes for anything will be important so capital gains are always useful for us so the economy will be developing using this so taxes may. cause economic changes more stronger

[wahyu wida]

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?

Well, i believe tax on capital gains already happening in our life. Its fair and it does help goverments to provide the infrastructure that could boost economy and businesses and also health life of the people.

paying taxes for anything will be important so capital gains are always useful for us so the economy will be developing using this so taxes may. cause economic changes more stronger

I think many developed countries are building their countries using taxes, and taxes are one of their biggest income. it is not wrong if the tax object is always supervised by the government to achieve the planned target

[adzino]

I think some exchanges have already charged the cost of buying and selling coins and I think that fee includes the tax paid for the development of the exchange, but for taxation the ownership of the cryptocurrency assets that you have does not have to exist.

Do you even know what capital gains tax is? The fee those exchanges take are for  developing their exchange, their profit and paying their "own" tax (not yours!) if applicable. You will still need to file your own tax if you hold crypto currencies and make profit from it. The rules are bit confusing, but as far as i know, you will have to pay tax on your capital gains, at least where I am living.

[mirakal]

I think some exchanges have already charged the cost of buying and selling coins and I think that fee includes the tax paid for the development of the exchange, but for taxation the ownership of the cryptocurrency assets that you have does not have to exist.

Do you even know what capital gains tax is? The fee those exchanges take are for  developing their exchange, their profit and paying their "own" tax (not yours!) if applicable. You will still need to file your own tax if you hold crypto currencies and make profit from it. The rules are bit confusing, but as far as i know, you will have to pay tax on your capital gains, at least where I am living.

It's a little complicated if you do not study these terminology, the simple term that can easily be understood is that whenever we make income, we are required to report it and pay a corresponding tax.

In my country I don't need to pay for this since there is no law yet that tackles about this matter, but when I opened a new bank account, I was ask about my source of income, and since I don't have a regular job, I just said it's coming from trading because
I am really trading but focuses on long term trade, so if there's gonna be a specific law about it, I cannot deny anymore because of the information I have provided, but until that law has not pass yet, I should enjoy my profit in crypto with tax free.