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this post was submitted on 22 Dec 2024
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politics
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The main part of the tax is that rich assholes would not longer be able to use those unrealized gains as collateral for loans. Because as soon as those gains are realized, they're taxed.
This alone would massively limit the power of rich assholes.
Yup, the borrow buy die financial strategy should be 100% illegal.
Honestly, at this point I wouldn't be surprised if they backstop a Bitcoin bubble bust with taxpayer money. This country has been fully corrupt for some time now.