Another thing is that we cannot really choose where our taxes goes to. Our state taxes which are supposedly more important go to education mostly (k12) and beyond that into colleges and uni. But I look at the education system and it is broken crazily after high school. Not to mention the shitty brainwashed material you learn in grade school that you will never use IRL.
Too much student loans and high tuition towards a field you aren't 100 percent sure you will lock in or even like later on. Then, you will it have it grow with interest for years if not decades depending on your situation that will have to be paid off.
Why can't I donate 1/3 my earnings towards any charity or non profit 501 that I like? What the hell is the point in enslaving people with 1040es with quarter payments? Slave to IRS obviously and money.
Also, if every single crypto person paid their taxes what is going to happen? I'll tell you, they will go to Coinbase a FREAKING institution not really a wallet you own or another exchange and old Samuel boy will start demanding 1099's and 1040 Schedule D's as the law if they haven't already enforced that yet. Merchants will have to report everything too. So will retailers like Overstock. So, will any one offering contracting or W-2 work they will subject to this as well. So, the IRS will then know who you are, where you live your transactions, and of course how much you owe them.
So much for decentralization. I know that doesn't correlate directly with privacy and OK. But the whole point of crytpo was to take away power from the gov that is what our Satoshi Nakamoto proposed in his white paper when he was developing BTC. We start giving our ID and Tax info and we are back to square one, really, and eventually we will see investors just lose interest in crypt as it lost a good chunk of it's appeal. And so, now you can't make actual dough off it.
Also, then there is the whole security thing with crypto. Not really any more secure then centralized power atm, first DAO now this really since it is all code and any one can really look at it we are vulnerable to security issues more so than centralized services and platforms so far.
Amyway back to TAX, yeah it should be voluntary at best AND banks have to stop lending out 10x money that they don't have lol, shitty fiat that has no backing from gold based on debt...
