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[GIZ] IRS Declares Bitcoin Is Property and Must Be Taxed As Such - Page 17

post #161 of 199
Quote:
Originally Posted by Angrybutcher View Post

Most states have a "Use Tax" as well. Buy ANYTHING online and you are supposed to report that to your state, so they can collect sales tax. How many people do that?

I'm aware, and very few.
Quote:
Originally Posted by KSIMP88 View Post

Man. So many people here just don't want to pay taxes on items. You guys don't understand the purpose of taxes. And you defend yourselves to the death. I don't think it is possible to convince you that this is a good idea, even if proven fact.

I understand the purpose of taxation.

I avoid taxes where possible because I see their collection as biased and extortionist, much of their use as waste, all the while my say in the matter is virtually non-existent.

I will continue to pay as little as I possibly can, using utterly any means in my power to do so. You are free to pick up my slack if you are so keen on doing so. I wish you wouldn't, as I'd rather see the systems behind it collapse, but I'm not going to tell you what to do with your money...it's your money, and that's the point.
Quote:
Originally Posted by KSIMP88 View Post

BAsed on what facts?

Based of the fact that if you do not report mining income, that there is no reasonable or efficient way for them to determine it.

Mining generally involves sending work too a pool which then sends your share of block rewards to a wallet of your choosing. It's exceedingly easy to isolate and conceal these things. Even if you discount the use of proxies, you would need detailed records from one's ISP and the pool operator to link the two. Only if and when you go to cash out fiat at an exchange is does it become difficult to hide your proceeds, and there need not be any proof that the coins came from your own mining efforts or how long it took for you to accrue them.
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post #162 of 199
so then how are you gonna cash in your bitcoins without being checked out by the irs? see if we didnt depend on electronics so much it would be easier. people would go ahead and trade cash and bitcoins in person and just use electronics or a computer to mine them. but keeping track of the whole system and all that, maybe when you transfer the bitcoin, you could send it out to a persons wallet, its got to go somewhere,

as for getting the cash, things have to get personal for it work independently completely. then everybody can trade cards without any red tape
still getting the money after you send out the coin to whomever, thats a difficult part. how do you trust the buyer, i mean thats why we use exchanges. What will happen to exchanges, will there be some kind of goverment crackdown on taxing it, man this sucks.
Edited by DrClaw - 3/31/14 at 11:54am
post #163 of 199
Quote:
Originally Posted by KSIMP88 View Post

Man. So many people here just don't want to pay taxes on items. You guys don't understand the purpose of taxes. And you defend yourselves to the death. I don't think it is possible to convince you that this is a good idea, even if proven fact.

Most Taxes that people pay go straight to the worlds elite Bankers and the military industrial complex. The Federal Reserve is a group of private Bankers that control the US currency and charge interest for every dollar they print.

That Founding Fathers where against income tax and a centralized bank and was one of the top reasons for the American Revolution.


In sort you support Taxes that contribution to your own bondage as a slave.
post #164 of 199
Sales tax maybe but good luck trying to monitor income of bitcoin.
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post #165 of 199
Already paying tax on the additional energy used to mine the coins.

Tax what when earn it. Tax when you spend it. Tax when you save it. Tax when you keep what you bought. Tax when you leave it to your children. I wonder why the economy is failing.
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post #166 of 199
Quote:
Originally Posted by schmotty View Post

Already paying tax on the additional energy used to mine the coins.

Tax what when earn it. Tax when you spend it. Tax when you save it. Tax when you keep what you bought. Tax when you leave it to your children. I wonder why the economy is failing.
The economy is failing because your government has destroyed the middle class, and there is now a huge disproportion of rich people vs poor people. Not to mention that the stock market, the job sector as well as really the entire economy is beyond inflated it is ridiculous. U.S has a 10+ Trillion dollar debt. Paying that money down is a good thing and it has to come from somewhere. So what's better? Paying taxes on virtual currency, or having china cut of all goods and services to the U.s because you guys are a deadbeat?

P.S, I am not implying that canada is better before anyone starts flaming me because I live there. We crapped the bed as well.
post #167 of 199
Quote:
Originally Posted by 8800GT View Post

The economy is failing because your government has destroyed the middle class, and there is now a huge disproportion of rich people vs poor people. Not to mention that the stock market, the job sector as well as really the entire economy is beyond inflated it is ridiculous. U.S has a 10+ Trillion dollar debt. Paying that money down is a good thing and it has to come from somewhere. So what's better? Paying taxes on virtual currency, or having china cut of all goods and services to the U.s because you guys are a deadbeat?

P.S, I am not implying that canada is better before anyone starts flaming me because I live there. We crapped the bed as well.

I commend you for trying to stay neutral in your reasoning but your really not there is a lot more to it than "destroying" the middle class and without getting into politics the US is not even close to in the worst position In fact a lot of countries lack a middle class like the United States. The state of the "world" economy is due to a lot of factors but the number one reason was the super inflation of the housing market in the US and the Bonds that were backed by them. They were spread out all over the world and no one bothered to really figure out how risky they were. Then housing prices crashed, people stopped paying their mortgages and the bonds became pretty much worthless. Then banks to stem their losses stop lending money and there was a liquidity freeze. There are a lot of companies/governments that rely on liquid markets and they couldn't get the case they needed and they folded. The effect compounded and you have what happened 5 years ago. Things are slowly getting better, but companies are realizing they can do way more than they were doing with less people and its a much slower rebound especially because all governments are keeping interest rates artificially low. Its going to be very slow still but we are on the right track. Just look at any world GPD numbers and such. The numbers are posative but we still have a long way to go as a planet.
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post #168 of 199
Quote:
Originally Posted by b.walker36 View Post

I commend you for trying to stay neutral in your reasoning but your really not there is a lot more to it than "destroying" the middle class and without getting into politics the US is not even close to in the worst position In fact a lot of countries lack a middle class like the United States. The state of the "world" economy is due to a lot of factors but the number one reason was the super inflation of the housing market in the US and the Bonds that were backed by them. They were spread out all over the world and no one bothered to really figure out how risky they were. Then housing prices crashed, people stopped paying their mortgages and the bonds became pretty much worthless. Then banks to stem their losses stop lending money and there was a liquidity freeze. There are a lot of companies/governments that rely on liquid markets and they couldn't get the case they needed and they folded. The effect compounded and you have what happened 5 years ago. Things are slowly getting better, but companies are realizing they can do way more than they were doing with less people and its a much slower rebound especially because all governments are keeping interest rates artificially low. Its going to be very slow still but we are on the right track. Just look at any world GPD numbers and such. The numbers are posative but we still have a long way to go as a planet.

Humans are Greedy. It's sad but true. How does one conquer greed?
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post #169 of 199
It is not very easy to conquer greed. What is hard is surviving with not a single thought or act of greed in your life. We are greedy because we both want and need things. We need shelter from the elements, food, and ways to stay clean and healthy just to survive. Just these things cause us to need to work for a living or obtain them in some fashion. As you extrapolate the thought of getting rid of every part of greed in your life however you are eventually lead to Nihilism and the idea that any single action performed could be a type of personal greed. Then you move into the realization that even wanting things that you don’t need such as electricity, car, TV, computer. It becomes really hard to conquer Greed.
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post #170 of 199
Quote:
Originally Posted by Twinnuke View Post

Humans are Greedy. It's sad but true. How does one conquer greed?

By being more greedy than the next guy.
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