You are viewing a single comment's thread from:
RE: The Battle For Freedom Is Won - Jeff Berwick at The North American Bitcoin Conference
I think the government policies are going to be a wait and see since this is so new to them. They're probably just beta testing how things are going to play out once people file their taxes this season and take it from there.
Yeah, I think you're on the right track.
What about this 'tax reform bill' the Trump administration that has passed?
I haven't read the bill, but I reckon there's some sneaky shizzle hidden within.
The tax reform bill is designed to help but the problem is that the economic problems have gotten to a point where I don't see that happening. Taxes are supposed to go towards keeping the government and its subsidiaries running. However, we owe more money than there actually is in existence so we couldn't possibly pay this back through tax revenue. The only way I see out of this is through default. This is either going to come in the form of inflating the currency or in the form of non payment. I don't see a third option.
Good point. I have not made money with bitcoin, but if I did, I would definitely keep good records and report to the IRS. I hope everyone does because we just don't know yet how the government views this.