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How To Fix Bitcoin

http://blog.gardeviance.org/2014/03/how-to-fix-bitcoin.html?m=1

by hendzen • 12 years ago

3 2 12 years ago

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blog.gardeviance.org

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csense• 12 years ago

For a very long time in the US, the only things that were taxed were physical, tangible things like physical merchandise or real estate. Physical things are a lot easier to track than abstract numberical quantities in various accounts (which is what "income" or "capital gains" really are).

The income tax was really a temporary measure to pay for World War I. (Spoiler: It wasn't temporary.)

If Bitcoin will make accounts anonymous and untaxable, what's wrong with going back to a tax on physical things?

maxerickson• 12 years ago

The 16th amendment was ratified before WWI began, also four years before the U.S. entered the war.

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