The Penalty of Success

Curious, I have noticed in comments on the internet people frothing vehemently about the immorality and detestable character of those who decide to get exceptionally creative with their (U.S.) taxaroo's. Essentially those who end up avoiding paying a lot of what might be deemed due by them under ordinary circumstances.

At this point I am certain I am a complete idiot because I just don't get it. I can only imagine most of these people are lower to upper middle class. I would have thought they would be cheering for those who have cleverly worked themselves into these situations. Instead they call for their heads and are angry they aren't paying more. This just seems so strange to me. The common man angry that others aren't paying more? Wasn't it just a couple hundred years ago we were dumping tea off a harbor? They aren't actually naive enough to believe they are somehow doing some kind of patriotic duty...are they? Or are these just the 50% that don't pay? Consider me vexed.

Kindly shitpost below bizfucks.

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its stockholmd syndrome combined with crabs in a bucket.

The posts didn't seem genuine. We were inundated with proud tax payers. It was trolling or something else but didn't seem real.

The only people paying taxes are normies. And like the other user said, crabs in a bucket. Taxation is theft.

Tall poppy syndrome.
>Thrasybulus led the man who had come from Periander outside the town, and entered into a sown field. As he walked through the wheat, continually asking why the messenger had come to him from Cypselus, he kept cutting off all the tallest ears of wheat which he could see, and throwing them away, until he had destroyed the best and richest part of the crop. Then, after passing through the place and speaking no word of counsel, he sent the herald away. When the herald returned to Cypselus, Periander desired to hear what counsel he brought, but the man said that Thrasybulus had given him none. The herald added that it was a strange man to whom he had been sent, a madman and a destroyer of his own possessions, telling Periander what he had seen Thrasybulus do. Periander, however, understood what had been done, and perceived that Thrasybulus had counselled him to slay those of his townsmen who were outstanding in influence or ability; with that he began to deal with his citizens in an evil manner.

I just mean on youtube etc

youll run into all sorts of weird issues. The freemasons might want you to join their cult if you know someone who is in it.
Taxes ofcourse.
People will try to sell you shit, a lot.
People who otherwise would be a cunt towards you will treat you better, not because you are you but because they are hoping to get some of your wealth.
You will be treated worse by people who envy you.
if you flaunt your wealth by driving nice cars, people will lean up on your car to take selfies, some will vandalize your cars.
you will get to experience the ugliness that is humanity from another perspective, thats all

>Or are these just the 50% that don't pay?

50% is the tip of the iceberg. I am pretty much convinced that MOST if not damn near 99% of crypto holders are not paying taxes.

But with that said.

> The common man angry that others aren't paying more?

They are mad because they had to pay and you didn't.

oh shit im tripping and didnt read your post op, ignore me

i pay my taxes, and am not a shill whatsoever. the fewer the people who pay taxes, the more likely the gov't is to regulate even more heavily, and the fewer people who are able to participate in the market in any given economy. Remember what happened after China "banned" crypto trading? Imagine if this happened for real, and in the US at that.

You're making money by speculating, and are not producing anything. The exponential gains crypto offers are a great recipe for inflation. When you wonder why regulation is necessary, look at Africa and read about Soros' hobby of wrecking the economies of whole nations with inflation.

So is making massive gains off of speculation and decreasing the spending power of everyone holding USD because you decided to cash out on a shit ton of BTC and bail the country.

I could take lolbertarians seriously if they walked the walk and actually USED BTC, but they don't--they bitch about the American economy while taking advantage of the stability and spending power of the USD. If taxation is theft, why the fuck are you so interested in USD instead of just sticking to BTC and making use of them ffs?

>tfw owed $25000 on crypto alone last year
>tfw paid it because there's no way you'd get away with it

fucking gemini exchange

yeah, you're a shill
the rich rig the system so I can't participate and expect me to pay fucking taxes when I make it?

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> They are mad because they had to pay and you didn't.
This. Taxation is theft, but not paying your share while everyone else does is also theft. The moral thing to so is wait for laws to be changed not try to cheat the system. In the long run cheating will not benefit you

social liberals are truly the cancer of this nation

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Of course no one pays tax on crypto.

You don't cash out.

You sold to usd through Gemini and got a 1099? I use Gemini but never cashed out yet

>we were dumping tea off a harbor?
We have representation now, it just doesn't correlate to how much we pay in tax.

You owe taxes even if you don't cash out.

>>You're making money by speculating, and are not producing anything.
So tell me what is government producing with money that they get in taxes?
Do they actually produce anything?
What is one expense that the government has that produced something worthwhile that couldn't be accomplished by private investors cheaper and better?
>>The exponential gains crypto offers are a great recipe for inflation
Isn't the inflation overall good for the government and a country as a whole according to Keynesian economics?
Inflating our way of the 20++ trillion in debt that was committed by, by...whom exactly?
>>When you wonder why regulation is necessary, look at Africa and read about Soros' hobby of wrecking the economies of whole nations with inflation.
Soros did nothing of the sorts. He wrecked England because England regulated themselves to no end and because they were looking for a way to escape ....debt.

You are telling me that I should pay taxes because I should support a government that is spending the free money(free because not one of them worked for it) on shit that I don't support : welfare, wars, un-education?
The government that forces me to pay taxes even though, technically it's illegal?
The government that regulates everything to protect...the government and their power.
Sorry I'm not a sheep and not going to be led by a big brother.
Also this so call "speculating" costs my time that I can't subtract from my taxes, even though according to a barter tax it is a taxable event.
My time is not free when government deems it so and then free sometime when it suits them.

Yes you caught us, it wasn't real. We've been tracking you sir.

>"The tax threads were good until the proud tax payers took over. It was a kind smugness I've never seen."

You also wrote this post on April 19th, correct?

>not paying your share while everyone else does is also theft
Can you explain? What do you mean by "my share"? And why is it theft if I don't pay it? Why is it immoral? You have only raised questions about your position not answered any. Your post is rife with generalities and ambiguity. "In the long run cheating will not benefit you". Who is cheating? Why will it not benefit me? WTF are you talking about?

Not true

>the more likely the gov't is to regulate even more heavily

They cant. They fucking are not able to regulate this shit.

>You owe taxes even if you don't cash out.
this is one conservative interpretation
they won't actually know about your crypto if you don't cash out so your contention is moot anyway unless you are a fucking retard and report yourself

>They cant. They fucking are not able to regulate this shit.

Wrong.
They can regulate the exchanges and fiat gateways and also pass any laws they wish.
What they can't do is stop it.
The genie is out of the bottle and now it can't be put back in.

Actually you dont owe taxes if you hold on to a coin and do no trades or cash out. Even if the coin sky rockets to a billion dollars each. You wont owe anything.

>They can regulate the exchanges and fiat gateways and also pass any laws they wish.

Then we risk falling behind other counties that don't do these kinds of regulation. That would be harmful to the country as a whole.

They?
Which exchanges?
Right. Settle down.

It is not a conservative interpretation. It's the law. If you exchange one asset for another and the value measured in dollars is greater than when you acquired the original asset, that's a taxable gain.

No one here does no trades.

>It is not a conservative interpretation. It's the law. If you exchange one asset for another and the value measured in dollars is greater than when you acquired the original asset, that's a taxable gain.
if you fail to report this but report in good faith and pay cap gains on the diff between what you paid and what you cashed out, the IRS will probably not pursue you this year. So "it's the law" hurr durr

It's not your job to follow the letter of the law conservatively, everything is open to interpretation at all times, and if you do so you are only hurting yourself

fuck off back to rëddit

not to mention the fact that they almost certainly don't know about your gains unless you received a 1099 from coinbase like the retard you probably are

>the IRS will probably not pursue you this year.

You gave them a free ticket to slap you with fraudulent reporting, because that's the only way to just pay the difference on what you cashed out and what you paid when you've divested the asset a bunch of times by trading. You have to lie on your 8949 and make it look like one trade.

not true

This is a gigantic grey area, e.g. what about coins as income, FMV on date of receipt, what is receipt if you mined in a pool with a delay, it's presumably the day you actually got them in your wallet, etc. This is all open to interpretation. Okay, you have to "lie". You probably "lie" thousands of times a week without knowing it. The government "lies" constantly.

And they're not going to have your trade data for many years if ever unless you received a 1099 or some other doc as I said, or a CTR if you did over 10k in one fell swoop, etc.

My biggest stacks are untouched since last year.
I do smaller trades but thats only because steemit provides a passive income.

Most definitely.

Yes different "theys"
Any depending on the "they"
I merely said that it's possible. Quite settled.

This.
The IRS threw an ambiguous law at us and is waiting to see what will stick.
They want you all to report your trades and to hopefully pay and in bigger numbers than their usually 800-900 people a year.
And then, when they have that data, submitted by you, they will write in a way that will be very clear-ish...but still ambiguous enough so in case they need to they can just come after you.
IRS was used as a tool against non complying people multiple times. They have the experience.

kek I was recalling that exact post as well
it is true

Trying to discuss this with these fucking cucks is impossible because they approach it from this pathetic cocksucking groveling stay on the sidewalk world view and it's just impossible to see eye to eye
>hurdur you're breakin da law
k

goddamn this is Jow Forums and this place is inundated with this bullshit.

I'm honestly starting to wonder if the IRS pays interns to shitpost this nonsense here

>They want you all to report your trades and to hopefully pay and in bigger numbers than their usually 800-900 people a year.

Have any idea what the numbers are this year? I bet those numbers are tucked away right now because its probably still less than 1000...

A minority are upset that they are paying taxes and others aren't, while an ever increasing percentage dependent on gibs are fearful of the government well going dry. The latter have a pretty substantial presence on the internet.

>I'm honestly starting to wonder if the IRS pays interns to shitpost this nonsense here

Most of these threads ended right after April 18nth. The numbers dropped a lot. Also multiple times during those long ass threads there were times where they basically came out and admitted they were larping.

this
You goys need to pay up. They need money fo dem programs.

There's literally no interpretation of anything that says you can "pay cap gains on the diff between what you paid and what you cashed out". Show it to me. And what if you only cash out a portion of it?

>representation
What is inflation of the money supply by a private central bank

I think my accountant fucked me. Imported all my data in to bitcon.tax which said I owed tax. Give 8949's to accountant, along with the cost basis for it all. Didn't have to pay anything according to them, guess i'll sue the shit out of them if they fucked it up.

You guys are the one's who want to "half-comply" by doing this made up "just pay the diff of wut u cashed out and cashed in" method. You're actually better off not reporting at all than doing that, because there's no way to report it like that on any form.

If you trade 1 btc into 100 you can only ever cash out 1 BTC. If you cashed out any more and did your "method" you'll automatically get flagged for audit because your numbers don't make sense.

self employed in canada

will probably clear 90k this year if not more. not planning on paying any tax.

v& when

Not only will you not be paying tax but nobody else is. And the people who do wish to make a dapp or maybe make the process a lot easier will receive zero fucking support from his peers.

The entire situation is fucked. And its funny too because technically taxes could super automated and simplistic with crypto. Dare I say it, even to a point where you can know what you owe in real time.

Also we can fuck tax accountants out of their jobs until non exist anymore for fun.

1 in 2 Americans don’t work.

I suppose I just don't think of the government as my most detestable enemy. I can think of far worse forces.