Re:Coinbase and the IRS
by MichaelBurge on Sunday January 15, 2017 @02:47AM
(#13402898)
It's more than that:
* You continue to be taxed even if you're not in the US. Additionally, the US uses its diplomatic advantages to strongarm foreign banks that serve US customers, even if those US customers are never present in the US.
* You have to pay a expatriation tax, and a $2,350 fee to renounce citizenship to avoid the above.
* Central banking gives the government much more control over the monetary system than is needed to pay for simple services. Look at China to see how bad this can be; the article is about Bitcoin, which is currently mostly used to evade oppressive currency controls in China. I consider our central banking system to be an indirect form of taxation.
If these 3 issues were changed, I'd put taxation closer to the 'not theft' than the 'theft' category. Until then, you have to pay the tax even if you don't want access to the US' society.
* You continue to be taxed even if you're not in the US. Additionally, the US uses its diplomatic advantages to strongarm foreign banks that serve US customers, even if those US customers are never present in the US.
* You have to pay a expatriation tax, and a $2,350 fee to renounce citizenship to avoid the above.
* Central banking gives the government much more control over the monetary system than is needed to pay for simple services. Look at China to see how bad this can be; the article is about Bitcoin, which is currently mostly used to evade oppressive currency controls in China. I consider our central banking system to be an indirect form of taxation.
If these 3 issues were changed, I'd put taxation closer to the 'not theft' than the 'theft' category. Until then, you have to pay the tax even if you don't want access to the US' society.