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It's not just capital gains tax on bitcoin that seems immoral, understand ALL capital gains tax is theft!

Bitcoin Reddit

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Everyone in this sub knows its not the price of the asset going up, its the purchasing power of the dollar going down!

All assets rise in price over time because the currency is being debased and assets are denominated in the debasing currency. The government prints money diluting your purchasing power and that causes the price of your asset to rise, they then tell you you owe tax on the price rise when the price rise was caused by government money printing and the price rise was doing nothing but slightly offsetting the dilution of the currency. So the government causes your asset to rise in price by destroying the currency, then they claim you owe tax on that price rise.

Think about it, if the cost of everything in society rises by 50% and an asset you own also rises by 50% then there has been no "gain" yet you still get taxed, meaning CGT is a tax on a gain that doesn't exist.

Capital gains tax is just as immoral and disgusting as the inflation tax as they are essentially one and the same. They both cause you to give your money to the government based on how much the government mismanages the currency. The more mismanaged the currency is the more inflation there is, and the more inflation there is the more capital gains tax you pay.

It is straight up theft and is absolutely criminal. All capital gains tax is completely immoral.

submitted by /u/slvbtc
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