Bitcoin, The IRS, and You: How much are you going to owe?

By Victoria Fantoche, The Goldwater · 02-26-2017
Photo credit: The Goldwater

As if the federal government doesn't get enough money from the population of this country, recently the IRS has filed judicial papers to the Bitcoin headquarters. The purpose of these documents is the release of information about people using this virtual currency to avoid federal tax laws. The government isn't fooling anyone. All they want is their piece of the pie and want to further know what people own and what people have. This is just another typical invasion of privacy perpetuated by a government that thinks they need to know everything about everyone at all times. The idea that someone may be making transactions that they cannot tax is driving them crazy.

Thankfully, Bitcoin has dug their heels in and has vowed to fight this injustice. The federal government does not need to know what we do with our money at all times. People had found a way to do what they wanted to do with complete anonymity and this needs to continue. The problem is, once the liberals get wind of something, the are like a dog with a bone. They will push for this, and will in the end, legally bind Bitcoin to bend to their will. This is nothing new. Anything that is not being controlled, or analyzed at all times by the Democrats must be destroyed. This is their ideology. The total desire and lust to view everything, all the time. How is this healthy for our country, the so called land of the free. We are not free, we are slaves to this machine. Whether you agree to that statement or not, does not change the fact it is true. Bitcoin will soon come under federal taxation and be just another revenue stream for the federal government. It will generate revenue that will fund future actions against something else that the Liberals think they need to reign in and get under control. It is a never ending cycle. Once again, any competitor to the USD is squashed under the big boot of capitalism. This is the way things are in this day and age. The only change the will ever occur will be full out revolution. While Bitcoin will do what it can to remain firm, no one can fight the power of the ever hungry government machine. If you have done much business with Bitcoin be warned, the tax man cometh.

<<Back
Hide Comment

Theyre coming for muh bitcoins!

What do you think about this article?
Name
Email
Subject
Comment *
File



All articles >>