Ray Dalio at it again, hitting on Bitcoin.
Although this time he does raise some good points about the Government hitting different assets classes, including Bitcoin, hard. The quest for tax revenue is on.
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Yea I think they will always be chasing taxes since there has to be some way to pay off all the debt they have. I am interested in how hard they will the different types of assets. As it is now, people don't pay taxes for physical gold or anything like that.
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Dont you have to pay taxes when you sell gold if a gain is realized?
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I am not sure. But I guess a fee is taken if you sell it through a shop or market. However I think some traders could sell direct and skip the entire process of being documented.
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Knowing the IRS, I surmise they will treat all gains as worthy of them getting a piece.
I never heard of being except which wouldn't make sense. I know miners have to pay tax on what they sell the gold for, granted it is on a P/L.
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There probably is but I guess if people manage to trade it in person and avoid the books, they can probably get away with it.
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