Re:The IRS collects data on Coinbase account holders
by Rescis on Friday March 16, 2018 @07:52PM
(#16604814)
> But, America's love of excess capitalism means our tax code is needlessly complicated and pretty much insists on as many third party businesses to be involved as possible - every company you work for, plus anyone holding your securities, plus Intuit or some other tax preparer, and so forth.
I don't think it's fair calling this capitalism. Capitalism is the idea the the production of goods is controlled by private entities, whereas what you are talking about is a government over complicating/regulating an industry at the behest of a company. In a capitalist society, regulation is not a thing, whereas in the corporatist society I believe we live in, regulation harms the citizens through capture and reduction in effeciency.
Re:The IRS collects data on Coinbase account holders
by adventist on Friday March 16, 2018 @09:42PM
(#16605170)
I agree, this isn't capitalism but more like crony capitalism or better yet -- corporatism. Government should not pick winners or losers, much less requiring them.
I don't think it's fair calling this capitalism. Capitalism is the idea the the production of goods is controlled by private entities, whereas what you are talking about is a government over complicating/regulating an industry at the behest of a company. In a capitalist society, regulation is not a thing, whereas in the corporatist society I believe we live in, regulation harms the citizens through capture and reduction in effeciency.