Funny how the conservative Trump supporters scream "free market, free trade, deregulation, take the banks out of it, take the government out of it, get wall street out of the politicians pockets, less taxes more money for citizens!"
Then we make a decentralized market ourselves, with no government regulations, banks not sucking the money from us, no brokers, it's literally a free market where we get to be partial owners of companies, contribute to the future, and make money. This scares the establishment because joe schmoes are getting rich.
So what does Trump do in his tax plan? FOR WALLSTREET basically they adjust the tax code to force us to pay tax on every single transaction sent in crypto. up to 39% on EVERY SINGLE transaction. Sent billy money taxed, made a trade, taxed, made money FROM that trade taxed, sent it back to your wallet, taxed, sent it to your bank account taxed. A clear attempt to make crypto traders seem criminal, and clearly pushed and influenced by wall street. But even more it's the exact opposite of all of their ideals.
The actual degree of trades, transactions, deposits, and it's relation to the USDT amount at the time of transaction would be near impossible to keep an accurate record of and audit.
What are they going to subpoena chinese companies for ip's and transaction lists? The sheer leg work would be insane.
Capital gains is easy enough. Money made versus investment can be figured out. The rest is crazy and I doubt 5% of the crypto trading base can accurately do their taxes from a whole year of crypto movement. shyt got me tight, fukk them
I mean when you sell a coin to a different site they can convert the coin into straight BTC or ETH and then you can cash out with that yes? I don't nessarily stay on these smaller sites in the long term.
