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25658530 No.25658530 [Reply] [Original]

After congress confirmed biden For all crypto burgers who will cash out more than 1 million dollars a year will be taxed 40% Daaaammmmn. Communism on the horizon.
Don't CASH OUT more than 1 million dollars out of crypto profits a year period.

>> No.25658583

do you even know how taxes work lmao

>> No.25658634

>>25658583
No I don't teach me

>> No.25658649

>>25658583
You'd still be taxed 40 cents on the dollar for everything above $1M. That's a lot dude

>> No.25658654

>>25658530
>cashing out
never change /biz/

>> No.25658659

My country has 44% tax on crypto and ETFs for gainz more than $1200 :)

>> No.25658662

>>25658530
Look on the bright side:
I'm what a lot of you guys may consider a "shitskin"
And one of my dreams for years was to move to the US and become a permanent resident after making it in crypto
But after seeing how the US taxes the fuck out of people and how it treats crypto holders/traders.....I'm seriously having second thoughts now, so that'll likely be one less shitskin in your country

>> No.25658709

>>25658530
never cashout

>> No.25658716

no thanks ill just avoid all taxes 100% legally and never pay a dime
also i collect welfare from the government thanks wagies

>> No.25658723

>>25658530
>cashing out 1 million dollars in internet money
>bought the internet money for 9 dollars in 2011
Just cash out 999,999 and pay the lower rate dude

>> No.25658733

>>25658530
Shit, even Canada has a max capital gains tax of only ~25%

>> No.25658748

>>25658659
What country is this? Thats fucked bro

>> No.25658793

>>25658662
based minority

>> No.25658796

>>25658748
Ireland

>> No.25658809

>>25658662
Smart move

>> No.25658841

>>25658662
Just make it and make your own country better. We have too many people already. Not even a “I hate minority” thing it’s just like damn my rent is high.

>> No.25658889
File: 54 KB, 1280x720, 854081161001_6160067919001_6160060421001-vs.jpg [View same] [iqdb] [saucenao] [google]
25658889

I really hope you can cash out bud

>> No.25658893

>>25658530
so... don't cash out more than 1 million annually?
stake your link and collect a million annually?

>> No.25658941
File: 50 KB, 822x960, serveimage.jpg [View same] [iqdb] [saucenao] [google]
25658941

>Why yes, I do take out loans against my BTC collateral, how did you know?
>Capital gains? Never heard of any.

>> No.25658988

>>25658796
The solution is obvious, choose from traditional, roth, and dissident

>> No.25659025

>>25658530
This is good for crypto.
This will force more people to HODL.
Kek.

>> No.25659053

Cash out $999k per year then

>> No.25659078

>>25658941
I'm a retard, please explain. How are you paying off those loans? Shouldn't you sell some of the crypto anyways?

>> No.25659089

>>25658662
based

>> No.25659095

Why do americans hate any fucking taxes? why the FUCK do americans always think it's best to fully support yourself and keep everything you earn for yourself?
Look at what corona revealed about the US. people lose their jobs and just get kicked the fuck out of their houses. want any medical care? You better pay fully for it or you wont' get any treatment xDDDD
Meanwhile in europe you can lose your job and not have to fucking worry about surviving. also not everyone is carrying a gun around all day lmao

>> No.25659103

>>25658530
Why can’t you guys use your big brains to skirt this tax law? You aren’t Bezos you aren’t skirting with billions

>> No.25659107

>inb4 a bunch of 60 IQ children with no income cry about marginal tax rates and think only earning $999,999 is le ebin life hack

>> No.25659122

>>25659053
or spread it across multiple crypto? genuine question

>> No.25659150

>>25658941
Based and Nexo pilled

>> No.25659173

>>25658988
HAHAHAHA!! I'm fuckin dying at that one anon

>> No.25659188

>>25658662
i mean that's fine but why not just sell crypto and live much more lavishly where you live?

>> No.25659203

>>25659095

supporting/promoting achievement >> supporting/promoting the bare minimum

Take a look at how "well" they're doing economically. Once thriving meritocracies are now bum-states. We have plenty of safety nets for the truly unfortunate, at this point in time 20% of Americans are on some form of welfare. Stop asking for more you idiot.

>> No.25659208

>>25658530
>cash out more than a million a year
Actually it's for those earning more than a million a year. If you're a NEET and cash out a million the tax rate is 0%

>> No.25659220

$1 million will be quite a low threshold with all the money printing they're doing.

>> No.25659224

>>25658530
You dumb fuck, tax is done in a progressive manner so that if you cash out 1,000,001 only $1 will be taxed at 40% while the rest will be taxed in their respective brackets.

>> No.25659237

>>25659095
>t. cuck

>> No.25659247

>>25659095
Gov't created that problem by not letting people work. Gov't's then gonna fix it by taking more of my money? Grow up.

>> No.25659308

>>25658941
>BTC moons to 100k
>bank liquidates you

>> No.25659309

smart, necessary.

and its 40% AFTER your first 1 million OP.

>> No.25659323

>>25659224
NOOOO, it's COMMUNISM to have a capitalist country tax capitalist money via capitalist trades! Trump should be printing MORE money!!

>> No.25659329
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25659329

fucking american commies
here in sweden you pay 30% regardless of sum
if you have an investment savings account you pay 0,375% on total sum invested but nothing when you sell with profit

>> No.25659336

>>25658530
on the amount above $1million

>> No.25659396

>>25659122

Nah it’s tied to the amount of capital gains you make as an individual, not per asset.

So even if you sold stocks, real estate and crypto, if the accumulative capital gains of all 3 exceeded 1,000,000 you’d pay 40% on anything after that.

>> No.25659401

>>25658649
i would be happy with only 40% taxes i mean sure 10% would be better, but only 40% sounds great.
total tax burden around here is around 60%.

>> No.25659402

>>25659329
Jesus. You guys pay a management fee to the gov't? That's fucked.

>> No.25659484

>>25659203
>>25659237
>>25659329
i seriously just imagine you guys with trump hats on writing this shit KEK

>> No.25659583

>>25659095
Gayest shit I've read in awhile. Holy fuck you people are faggots.

>> No.25659591

>>25659095
Stop coming into my board and posting retarded shit. You are brain dead. Never post here again.

>> No.25659629

>>25659402
Well don't they have all of their healthcare paid for and a vast social safety net? Doesn't seem too bad, burgers pay almost as much and get literally nothing in return.

>> No.25659684

how do i go long on bitcoin atms?

>> No.25659697

>>25659188
Probably the only three major things my country has over the US is less taxes, less racism, and less murders/gun violence
Other than those things, the US >>>>> my country in nearly every other way that I can think of right now
If I try to live over here the same way that a six-figure American lives, that's a big target on my back since most people here either live broke or wagie lives

>> No.25659698

>>25659095
you know all those wars the us military starts all over the world? yeah that’s where a lot of our tax money goes.

the medical system here is so fucked that i wouldn’t go to a doctor if i had cancer, even if it were free.

>> No.25659723

>>25658941
you know if you keep telling everyone this loophole they will close it

>> No.25659726
File: 128 KB, 750x920, USA.jpg [View same] [iqdb] [saucenao] [google]
25659726

>>25659583
>>25659591
denial phase confirmed, no valid counter arguments because you KNOW deep down your 3rd world shit country is failing and now it's showing

>> No.25659779

>>25658583
My effective federal tax rate would still be 35.94%
How generous, kike.

>> No.25659803

>>25659629
>almost as much
More*
Mutts pay more per capita on healthcare plus tip, If you paid what europeans paid you'd get dogshit coverage and a 10k deductible

>> No.25659837

>>25659308
you can exchange your btc for cash collateralized

decide never to pay it back

no problems

>> No.25659857
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25659857

>>25659697
that's why you get gibs to get guns silly

>> No.25659874

>>25658662
It's still worth coming to the US if you can get a high paying job.

>> No.25659892

>>25658662
>shitskin
Oldfag here, been on 4chan since 2008. Wouldn't call you that, never used the N word. However, I am a National Socialist. Some of us are decent Nazis.

>> No.25659915

>>25659697
also dont let the racisms on pol fool you they say what they want on hear because they would get the shit kicked out of them irl

>> No.25659943

>>25659208
>If you're a NEET and cash out a million the tax rate is 0%
I wish

>> No.25659973

>>25659726
go back to /pol/

>> No.25659977

>>25658654
based

>> No.25659979
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25659979

>>25658662
you know your country is fucked when even the shitskin invaders dont want to come in

>> No.25660006

>>25658530
you would get taxed that for everything over 1M
that's not an issue for like the 95% of investors

>> No.25660012

>>25659095
Notice how he didn't say anything about healthcare and the covid response because most western european countries actually did worse than the US? LMFAO

>> No.25660034

>>25659095
>Look at what corona revealed about the US. people lose their jobs and just get kicked the fuck out of their houses.
They lost their jobs because of the government's dumb response. Not going to deny the government here has gone to shit. If you're going to lock everybody down and fuck over their lives, at least do more than $600.

>> No.25660065

>>25659401
Holy kek

>> No.25660080

>>25660006
yes i forgot the system needs to be catered towards 90% of investors who lose money daily on robinhood

>> No.25660102

>>25659329
60%*
ftfy

>> No.25660108

>>25658733
And as far as I know its only ~25% of 50% of your capital gains.

>> No.25660114

>>25658748
>>25658796
Its 33% bro.

>> No.25660128

is this for short term capital gains or long term capital gains?

or is it the same for both

i was under the impression if you held longer than a year and made under like 75k long term capital gains are zero because they are not counted as ordinary income?

>> No.25660135

>>25659401
>60% taxes
WTF dystopian dimension did you portal from?

>> No.25660141

>>25658530

Renounce your US citizenship like the Facebook guy. I’d like to get off this sinking ship asap anyway.

>> No.25660167

Is it still 36% under a mil?

>> No.25660194

>>25658662

You fuckers ruined it already.

>> No.25660232

>>25660012
where when? healthcare is always paid for here because everyone HAS to pay health insurance. if i break my legs tommorow it costs me nothing. if i get cancer it costs nothing. wtf are you even talking about faggot

>> No.25660240

>take 100% of the risk via your capital and work
>government deserves 40%, while taking zero risk if you fail
Socialism for me but not for thee

>> No.25660272

>>25659095

In America we have socialism for the rich and free enterprise for the poor.

When Americans complain about taxes, they rightfully complain about the deception of "free enterprise." The problem is that the institutions don't pay the poor until the rich get paid.

>> No.25660317

just make 999,999.99
and you're good

>> No.25660318

>>25659247
This is what pissrs me off the most

>> No.25660332
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25660332

>>25658796
Revenue says it's 33% for CGT tho? I'm never cashing out into back account if that's the case

>> No.25660341

>>25660272

Wrong.

Socialism for rich and poor. Middle completely destroyed with taxes.

>> No.25660383

>>25658662
dangerously based shitskin
good gains to you

>> No.25660390

>>25658716
Biggus Dickus, my fwiend.

>> No.25660427

>>25658662
make your own country better, retard

>> No.25660435

>>25659484
Trump exacerbated this with widespread unemployment. The only solution at this point is UBI, at least that would incentive people to get off their ass and get a job. As it stands there is no reason for people on unemployment to go out looking for a job

>> No.25660475

>>25658941
how with btc?

>> No.25660490

>>25660435
>Trump caused widespread unemployment
NPC detected. You are incapable of critical thinking.

>> No.25660515

>>25658723
Aside from never cashing out and getting free gibs despite getting super rich, something like this is a decent move, just make sure to cash out into the lowest tax bracket possible. Luckily the peak of the bullrun comes in December so you can cash out twice quickly in 2021 and 2022 if you need more money and stay in a lower bracket for both years.

>> No.25660588

>>25658662
Just pick a better western country where the taxes actually do things for the citizens (hint, literally any other western country)

>> No.25660616

>>25659095
>yuropoor
>if I lose my job, get severance pay
>union pays me 8k€ for half a year
>extended 'rona unemployment tendies
Bring it on lmao

>> No.25660631

>>25659401
High taxes like this on gains is fucking immoral. It takes a shit ton of risk and if we don't fail we are punished when we succeed.

>> No.25660639

>>25659779
and you still have to pay for private healthcare fucking kek. That is sub european taxation in terms of keeping your own money.

Surely must be less than that

>> No.25660649

>>25659484

That's the only way you can stomach my indictment of your laziness and lack of ability

>> No.25660672

>>25660135
France probably

>> No.25660690
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25660690

>>25660435
>Trump caused COVID and made state governers shut down their state economies
Brainlet detected.

>> No.25660753

>>25658530
Dats wat am talkin bout! Ma nigga Biden! Taking from the rich, gibs back to does who deserve it. Dis be reparashuns! Pay yo taxes whitiods! We ain’t playin

>> No.25660806

>>25659095
Based, Randian fags will rage but it's a fundamental fact that human beings are communal by nature and extreme individualism is toxic

>> No.25660816

>take out 1 million dollars a year
>have not gained any more than 1 million dollars
>do not have to pay 40% wealth tax on any money because I have not passed the threshold
WOOOOW SO HARD

>> No.25660851

>>25660435
>Trump exacerbated this with widespread unemployment.
>The only solution at this point is UBI
1) you are a fucking retard
2) thx for debasing the dollar and making me a btc millionaire

>> No.25660900

>>25660135
well the official income tax is only 18% but... that's not the end of it. if you keep counting and adding you will find the total tax burden on you is 60%.
unless of course you game the system in which case you wan work it down to around 40% or less. but it gets increasingly difficult.

>> No.25661053

>>25660806
Yes, communal when it comes to small groups of people they feel they have soemthing deeper in common with, not when they are part of a 300 million person nation with no unified culture or shared beliefs

>> No.25661080

>>25660490
Unemployment benefits you fucking retard

>> No.25661153
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25661153

>>25659203
Technological progress lowers the price of labor, it's an economic fact. Throw in the globalization of the labor market which also drives down wages and you get the worst period of wage stagnation/decline in modern history. People aren't to blame for becoming "bums" just because the economic system they live under has absolutely abandoned them.

>> No.25661164

>>25660690
Trump gave everyone and their mom $600/week for sitting at their house doing nothing, no one wants to go back to work now. He is king of the gibs

>> No.25661172

>>25658941
Doesn’t work if you’re trying to swing the high and buy the dip my guy only works for unique situations

>> No.25661210

>>25659095
Because I don’t like niggers, spics, and shit skins living off of me, niiiiiiiiiiiiiigggger

>> No.25661222

>>25658530
GAINS ARE NOT WEALTH YOU FUCKING FAGGOT! A wealth tax goes after sitting assets. Capital gains goes after the positive monetary difference in asset sales. 40% capital gains is still sick and you are still an idiot for not knowing what a wealth tax is.

>> No.25661268

>>25658662
You could mold your country to your own vision with the right capital anon

>> No.25661294

>>25661164
In Canada, anyone who lost their job got $500 A WEEK for 7 months up to $15k. I literally got $15k to sit at home all summer, yet I, and everyone I know, went back to work as soon as things re-opened. Your theory is baseless.

>> No.25661304

>>25661153
>Health insurance is $200/month for Wife and I
>no car payments, we own our cars
>only spend like $5k/year on student loans
why is everyone else spending $30k a year on stuff my wife and I only spend $6k a year on? What is wrong with them?

>> No.25661314

>>25659150
Based

>> No.25661364

>>25661164
People are sitting home doing nothing because the state governments are shutting down the economy and fining small business owners $2k/day they remain open.

>> No.25661384

>>25661294
Did the gibs end?

>> No.25661509

>>25658530
Biden and the democrats are bought and paid for by corporations so I'm wondering what the motive for this was. Its probably something similar to the minimum wage hike, another barrier aimed at small businesses to stifle any potential competitors.

>> No.25661569

>>25659053
Goddamn some of you are tax retarded. You're still paying capital gains tax on all gains. Make no mistake taxes are going up under Biden and its not designed to help poor people

>> No.25661618

>>25661384
No, EI kicked in which you can stay on, or go back to work and lose $0.50 for every $1 earned.

>> No.25661623

>>25660816
>have 10M in crypto
>cash out 999K
>crypto crashes
>your remaining 9M in crypto becomes 900K because you couldn’t sell the top
gg fucking retard

>> No.25661639

>>25661509
>bush goes 8 years failing major campaign promises
>obama goes 8 years failing major cramping promises
>Trump goes 4 years failing major campaign promises
>Biden will go ? Years failing major campaign promises
It’s kind of a give at this point

>> No.25661697

>>25658530
oh no, I got rich doing absolutely nothing to contribute to society and now I have to pay part off it in taxes.

>> No.25661736

>>25658530
Take all the risk and give half of anything you gain away! Yay!

>> No.25661799

>>25658530
Move to a 2nd world tier country. South east asia or summat. You would have to be a fool to pay those taxes. Fuck that.

>> No.25661813

>>25659401
And where did the 60% go? What is all that cash doing now? Where is it?

>> No.25661824

>>25661304
Probably because you are in a fortunate position, I assume you don't have preexisting conditions. Also, if you averaged the cost of buying/maintaining your cars over their life it would raise that cost quite a bit in your calculation.

>> No.25661862

>>25661623
You can cash out 1,000,000 you retard. It's everything AFTER. And OH NO, you could've sold your remaining 9,000,000 for 5,400,000 gains, poor you.

>> No.25661870

>>25661639
>Biden dies or is declared unfit after 2 years
Book it

>> No.25662045

>>25659837
Nice loophole.

>What's all this cash you have hmm?!
>It's a loan sirs
>W-whaaaat?
>Yes it's a loan - you don't expect me to pay taxes on my loans right?

>> No.25662107

>>25658530
>12/31/21
cash out $999,999

>01/01/22
cash out $999,999

did i do it right?

>> No.25662134

>>25661870
God I just do not care about politics in the us anymore I want them to give me some quality of life and then fuck off
Housing is too much
Basic bitch slave jobs don’t even cover cost of living
We basically have no resources in the lower rungs of society but that shit is what dystopia means builds its foundation on the lower class forever waddling in the slums
Fucking Aaaaaaaaaaaa could have been born japanese or some savy Indian scammer or even a Nigerian prince fml

>> No.25662170

>>25662107
No, you can cash out 1,000,000. It's everything AFTER a million.

>> No.25662178

>>25659892
>nazis
>decent
anon, i... nazis were arguably the worst group to ever exist they literally killed millions of innocent people

>> No.25662294

>>25658530
probably won't actually happen regardless. capital gains is the elites' bread and butter. They'll probably keep that (relatively...) low and just keep hiking up income tax. Because richfags don't actually pay income tax, and that mainly affects the middle and upper-middle classes and small business owners and such.

>> No.25662316
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25662316

>>25662178
r u new?

>> No.25662364

>>25662134
Yes because none of those places have higher than cost of living

>> No.25662777

>>25658941
No anon, don’t tell everyone.
I was running the Celcius loans + downpayment to run airbnb rentkikery for 3 years now.
It’s pretty insane money.

>> No.25662826

>>25661509
Praise King Trump for building that wall and making Mexico pay for it! =^)

>> No.25662869

>>25662364
I’d pay the higher cost to not live in Walmart anon

>> No.25662878
File: 343 KB, 1080x2400, Screenshot_20210107-155828_Robinhood.jpg [View same] [iqdb] [saucenao] [google]
25662878

I aint cashing shit out lol

>> No.25662935

>>25658662
dude don't even sweat it about moving out of your country, we're all coming to live with you bro

>> No.25662994

>>25662178
stop posting for at least 2 years

>> No.25663008
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25663008

>>25658662

>> No.25663112
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25663112

>>25658530
Could be worse. We do get a discount for holding over 12 months but fuck Australia so much.

>> No.25663173

>>25659874
Shut your fucking mouth

>> No.25663185

>>25662316
>>25662994
>you don't agree with my fucked up worldview in which its ok to kill millions of innocent people for practicing a certain religion? you must be new here!
or i just dont like nazis, how about that?

>> No.25663225

>>25663185
Fuck off retard.

>> No.25663236

>>25663185
That is the clearest sign that you only think what you were told to think.

>> No.25663351

Get fucked burgers

>> No.25663406

>>25663112
47% + 52k

Top fucking lol.

>> No.25663666

>>25659095
Cringe

>>25659583
Based

>> No.25663710

>>25663236
It's probably safer for him to think that way because China is probably monitoring our messages as we speak. All big tech is hiring CCP to help with censorship and they will most likely use it to turn people against each other.

>> No.25663782

I own a shell company outside of my country and all income is a part of that "entity"

I haven't paid taxes for years, only poor people pay taxes. I am also on welfare otherwise it would raise suspicion as to my how I am able to sustain myself.

>> No.25663847

>>25658530
Are there any problem except Chinese virus restrictions to cash out in other countries? Why the fuck do you need 1mln+ for year?

>> No.25663886

>>25663185
based, fuck nazis and fuck commies

>> No.25663932

>>25659095
only stupid europeans pay taxes (also known as employees).

>> No.25663947

>>25658530
You got until this year to cash out. They wont raise taxes yet until covid starts to clear up. Make your money in 2021 and bounce.

>> No.25663992

>>25658530

First of all, this is just welfare capitalism. Second of all, the more sensible strategy is to actively actualize gains in the coming year so you will be taxed at lower current rates. If you have 5 million in crypto gains at the moment, actualize those gains before the 40% tax is imposed. Then buy immediately back in so that your cost basis will be at that 5MM amount, you pay current rates on those cap gains, and if the dems pass this outrageous hike, your cost basis is now high enough that you are more likely to not see cap gains in excess of 1MM and which would put you in the 40% category

>> No.25663993

>>25663947
what about asset based loans? Seems like a better play if you can buy real estate or other cash flowing businesses then it's all tax free

>> No.25664000

>>25661824
>averaged the cost of buying/maintaining your cars over their life it would raise that cost quite a bit in your calculation.
They were $15k to buy each plus probably about $2k/year in maintenance. So in the three years we've had them that's still only $6k/year per car. Plus, since we are done paying them off, when we own them for another 5 years that'll average out to barely over $3k/year.

Who are these retards spending $10k a year on average for transportation consistently?

>> No.25664035

>>25663993
Yeah but the cash flow is gonna be taxed too. As is real estate. Alternatively, you store stuff on a ledger and then physically hand it as payment to people. No tax tracking there.

>> No.25664046

>>25663932
Amerifat retard there are several big countries in eu that don't tax crypto at all , you nocoiner scrub

>> No.25664066

>>25663185
>>25663886
Leave. NOW.

>> No.25664074

>>25658530
GET FUCKED COINERS NEVER SHOULD HAVE BOUGHT WHAT ARE YOU GONNA DO NOW THAT YOURE STUCK IN A TINY MANSION LITTLE MAN

>> No.25664132

>>25664035
How is the real estate taxed? You get depreciation and get to write off a shit load. I guess you could for the cash flow but thats way less especially if it's appreciating in value in the real world and then your getting depreciation on your taxes. Also, I think you don't pay the cap gains on it if you sell and buy within a year a new property

>> No.25664138

reminder that from 1936 to 1980 it was 70% tax minimum for the highest earners in usa.

>> No.25664146

>>25661053
>no unified culture or shared beliefs
This is why America is fucked. Multiculturalism has failed. Socialism is fine in a culturally harmonious nation.

>> No.25664184

>>25664046
I'm talking about your earned income europoor because your post was talking about our health care and everything else

>> No.25664216

>>25664132
>Also, I think you don't pay the cap gains on it if you sell and buy within a year a new property
Like-Like trade is what I think you are referring to and yeah but i think it has some limits. The point im making is Biden is increasing taxes all over. You can dodge it by having a low cash flow but then again whats the point of living as you do now and having to work to support your life?

>> No.25664260

>>25664216
true I guess at some point you gotta cash out. Guess it's gotta go offshore

>> No.25664280
File: 640 KB, 1080x1020, nsoys.png [View same] [iqdb] [saucenao] [google]
25664280

>Leave. NOW.

>> No.25664290

>>25659095
>U.S. politicians finally pass aid to citizens after bickering about it for 9 months while citizens die
>$150B to the U.S. and $750B to other nations
The problem is that for every dollar the employed give to the unemployed, only a quarter is reaching its destination and three quarters are being looted by politicians. Euro nations have to spend almost nothing on military because America plays world police with trillions of dollars. On top of reduced spending, we also rain free gibs on you. If your nation somehow isn't well off I'd be amazed.

>> No.25664319

>>25660240
i wish everybody that was in dc yesterday was armed

>> No.25664322

in switzerland, not a country known for its socialism, the tax rates mean is 40%.


France : 41%
Germany: 45%
Austria: 50%
UK : 50%
Italy : 43%
Suisse : 40%

>> No.25664346

>>25664280
fuck off back to pol troon.

>> No.25664407

>>25664280
HOLY BASED
fuck nazi chuds

>> No.25664438

>>25661862
I risked EVERYTHING to get into this market in late 2018. EVERY SINGLE FUCKING CENT I HAD WENT INTO CRYPTO. That 9 million belongs, in its entirety, to the person to made the investment, not to the niggers and kikes that want me dead just because I am white. Not paying, good luck making it through level 1 of my dungeon IRS faggots, hope you all hang up high someday for all to see and be forewarned what happens to traitors and thieves like how it used to be (in Minecraft of course).

>> No.25664694

40%?

lmao in Canada I'm pretty sure your capital gains are considered standard income BUT only 50% of it. So if you sell stock and make $100,000 gain, you add $50,000 to your taxable income for that year. So $100,000 salary + $100,000 capital gain = $150,000 taxable income and you pay whatever rates for that income bracket.

>> No.25664953

>>25658530
I'm never cashing out so this is no problem. Fuck the government's cylindrical nigger dick.

>> No.25664984

>>25658530
we should all be taxed 99% so poc transvestites can have free abortions

>> No.25664993

>>25658583
>do you even know how taxes work lmao
Teach us, professor.

>> No.25665042

I'm a short term trader so I already get taxed at that rate.

>> No.25665055

>>25658530
get rekt burgers

>> No.25665252

>>25659203
Imagine thinking gambling on shitcoins is an achievement of any merit

>> No.25665308

>>25665252
Imagine thinking the person who flips burgers for you should pay taxes when you just 10x your moeny after typing in "when does bitcoin half" on google and sit back and watch a parabola form every 4 years.

>> No.25665946

>>25664694
Yes. So long as you weren't trading at all and your single purchase is not deemed an adventure. Either of those can have it taxed as professional income which is worse than 40%.

>> No.25666084

>>25659697
well thats not so bad, you don't have to show people your crypto holdings.

>> No.25666372

>>25658530
>laughs in Puerto Rican residency, 0% ap gains tax while remaining a burger

>> No.25666549

>>25658530
>40%
What? I thought burgerland was great for rich people and sucked for poor people? In my shithole I pay 1,2% of total assets per year and nothing else

>> No.25666610

>>25661697
>40%
>Part of it
That's pretty aggressive. Even 20% is fucking ridiculous. I'm pretty liberal/progressive and I think rich people should be taxed more, but it should not look like this. Tax poor people significantly less and rich people slightly more and you'll achieve an even greater result re: helping with income distribution.

>> No.25666613

This just in, America has always been a shithole in regards to crypto tax.
Remember that under Trump all exchanges were forced to submit your trading history to the IRS!

>> No.25666676

>>25666610
40% rates should only be applicable to massive corporations or bank executives etc. Taxing someone 40% on a sum they may only receive once in their life (after investing a decade ago) is just ridiculous.

>> No.25666704

Wouldn’t be crazy if boomers started running up in IRS buildings with guns and bombs hahaha like could you imagine if Q told them to go full 1776 on the tax man? Lol hahaha what if right???

>> No.25666751

>>25658530
Plot Twist: In a hyperinflatet world in which bread costs 1000$ everyone is earning 1 Million $ annually.

>> No.25666919

>>25666613
Only if it has KYC

>> No.25666934

Will this be paying for public health insurance for you guys or will it just be more money going to army what a stupid idea

>> No.25666962
File: 1009 KB, 506x900, 9E40330D-A516-4440-AD3D-5CB8B2BEE605.png [View same] [iqdb] [saucenao] [google]
25666962

>>25666704
Haha could you imagine?

>> No.25666985

DANGEROUSLY BULLISH FOR ZEC 1000 EOY

>> No.25667082
File: 2.07 MB, 1329x1429, 1594134794439.png [View same] [iqdb] [saucenao] [google]
25667082

>>25663947
This year really is the endgame for the current bullrun. I am selling on December 15.

>> No.25667221

>>25664322
Germany 0% if you hold 1 year

>> No.25667565

>>25660672
No France is 30% on crypto gains.

>> No.25668036

>>25658530
unironically wish it was 80% for people making that much
eat the rich

>> No.25668102
File: 789 KB, 750x632, file.png [View same] [iqdb] [saucenao] [google]
25668102

>>25659203
>supporting/promoting achievement

>> No.25668155
File: 45 KB, 1024x566, 9DABD51A-E50D-4C38-8537-A229BFE385FB.jpg [View same] [iqdb] [saucenao] [google]
25668155

>>25661862
You STUPID. FUCKING. NIGGER. If you cash out the remaining 9M you get taxed 40%. Your choices are hold and risk crypto collapsing or sell and get anally raped by the feds. That’s entire point of the fucking thread.

Drown yourself in the Ganges you Patel fuck

>> No.25668392

>>25658662
based and thank you

>> No.25668763

>>25661623
can't you fucking sell the crypto and leave the gains as cash in your crypto accounts?
you technically didn't "cash out" as you didn't transfer over to your checking account

>> No.25668818

>>25668763
you're retarded dude, when you sell the crypto that's the taxable event.

>> No.25668905
File: 29 KB, 753x707, 1609431315646.jpg [View same] [iqdb] [saucenao] [google]
25668905

>>25659979
>Just let that sink in for a minute

>> No.25668909

>>25668763
fucking newfags jfc

>> No.25668922
File: 263 KB, 1024x768, 152.jpg [View same] [iqdb] [saucenao] [google]
25668922

>>25659095
Taxation is a claim of slavery. Make them voluntary and watch no one pay. Only people who support paying taxes by gun point have Stockholm syndrome
whatonearthishappening.com/ark

>> No.25668935

>>25668818
>>25668909
i see

>> No.25668988

>>25668922
Back to delphi you go schizo

>> No.25669058

NZ will be having 40% over 180k

What a joke

>> No.25669137

>you make it
sorry man you gotta give up 400,000$ and give it to retarded niggers and tranny op programs

>> No.25669206

>>25658530
>not just buying citizenship elsewhere and leaving

>> No.25669226

>>25658530
Somehow I doubt this will apply to these politicians. But of course they get pay for play, lobbyists, etc.. so they dont struggle to geg money anyways.

>> No.25669274

>>25658530
Cash out and go offgrid.
Buy passport/papers in foreign country.
Jason Parser that shit

>> No.25669287
File: 57 KB, 847x640, 1606242222063.jpg [View same] [iqdb] [saucenao] [google]
25669287

>>25658530
Based, kikes are niggers, eat the rich

>> No.25669353

>>25664993
any dollar OVER 1m will be taxed 40%
The original 1m will not be taxed 40%

>> No.25669402

>>25658649
Yeah, a million dollars is a lot

>> No.25669430

>>25658654
>>cashing out
PAYING TAXES
>never change /biz/

>> No.25669434
File: 891 KB, 3358x1280, itigmi.jpg [View same] [iqdb] [saucenao] [google]
25669434

Don't sell your crypto and pay capital gains. Rake some interest and only pay income tax. Pic related. Gl

>> No.25669438

>>25664438
>all my taxes go to gibs for niggers
your taxes go to tax breaks for the top 0.1% and money burning machines like the US Army budget, they don't go to Tyrone

>> No.25669450

>>25664280
>stop saying mean things. my poor uncle schlomo was gassed 36 times in the brap chamber.

>> No.25669606

>>25660108
Nah, its max ~50% of 50% of gains which would make it ~25% max total capital gains tax

>> No.25669668

>>25669438
oh, that makes it better...

>> No.25669757
File: 780 KB, 637x483, file.png [View same] [iqdb] [saucenao] [google]
25669757

>>25669668
all I'm saying is that you should blame the real people at the top, don't play into the hands of the billionaires who want to turn the american people against each other

>> No.25669782

>>25668922
"Property" only exists if others recognize it and there is a mechanism to use force to protect it. Either this is through a democratic government where all individual's property is respected, or it is purely through "might is right" and the strongest individuals can take whatever they want from others.

"Property rights" are only legitimate under a fair government. Therefore taxes are not theft.

>> No.25669787

>make 5,000,000
>cash out 1 mil
>pool 4milly in balancer maybe get 15%APY for 4 years or until next bullrun

>> No.25669790

>>25663992
But then you effectively Pay taxes twice on the same asset.

>> No.25669967

>>25663112
Holy shit, Australia.

>> No.25669992

>>25666372
Anyone actually doing this? PR is expensive and a shithole

>> No.25670003

>>25663992
No guarantee this will work, a new tax plan introduced in 2021 can be made to apply for all transactions in 2021.
>A historical review suggests that any tax legislation enacted in 2021 could have retroactive effect to transactions completed at any time in 2021. In recent years, such retroactive rate changes have occurred as late into the year as August
https://www.natlawreview.com/article/capital-gains-rate-historical-perspectives-retroactive-changes

>> No.25670016

>>25659095
imagine being afraid of guns in 2020

>> No.25670060

>>25669353
Not how it works. Interesting idea though.

>> No.25670083

>>25658662
Spic here, I would rather make it here, than Biden's USA.

>> No.25670109

>>25658893
>so... don't cash out more than 1 million annually?
>stake your link and collect a million annually?
exactly how rich people do it. You pull out a distribution from your killer asset each year and just pay the tax on that.

>> No.25670161

>>25660806
Yet people like you don't want to give up or share YOUR stuff because you say hey man thats MY stuff that I worked to get all by MYSELF yet you are blind to your own hypocrisy

>> No.25670177

itt - people who dont know how capital gains taxes work

>> No.25670245

>>25663947
>until covid starts to clear up
TOP KEK

>> No.25670268
File: 447 KB, 798x795, IMG_E6260.jpg [View same] [iqdb] [saucenao] [google]
25670268

>>25669992
Your move to PR is for tax calculations a taxable event. You will owe on the appreciation of your asset before your move.

Or you can live there 10 years, but fuvk me I'd rather just pay the 15%.

Island life is expensive wherever you go

>> No.25670272

This fag will never get that tax rate in. Dems have just as much compromising evidence against them as Republicans. They will be blackmailed into protecting the rich and taxing the fuck out of the middle class. DC fucks children.

>> No.25670285

>>25670083
I agree. Mexico can be quite comfy in parts. In many ways Mexicans are more free than Americans too, minus gun rights for defense. And shame about the violence in many areas, but I guess the US has plenty of black cities that equal or exceed Mexico's crime rates.

>> No.25670295

Look on the bright side. It's ((ONLY)) 40%!

>> No.25670309

>>25670109
>>so... don't cash out more than 1 million annually?

That's gonna take forever to cash out.

>> No.25670327

>>25658662
I would go the USA just for visiting the country and having fun in Las Vegas. Nothing else matters in that shithole

>> No.25670403

>>25658662
>so that'll likely be one less shitskin in your country
good now get off my board.

>> No.25670501

>>25658662
good decision. im a burger and i am buying a St. Lucia citizenship for $60k and paying the $5k to renounce my US citizenship.
i fucking hate this country
all it does is shit on people who actually have money.

>> No.25670571

>>25660806
Not a fact, your theory. Your Axe wound is not a vagina and you will never be a woman. Someone should delete you in minecraft.

>> No.25670706

>>25658583
You are in /biz/. 90% of these crypto kiddies have no idea what money actually is. The other 10% found out when they tried to use their fake money to buy food and pay rent.

>> No.25670855

>>25658716
Cant wait to start getting the extra 300 a week in fed unemployment gibs

>> No.25670938

>>25670501
>shit on people who actually have money.
on White people who have money

>> No.25670964

>>25658530
Tax the shit out of the middle class so they can never usurp the ultra rich.

>> No.25671005

>>25669782
>"Property rights" are only legitimate under a fair government.
Define legitimate

>> No.25671070

>>25671005
i don't know about legitimate but it's violence.
law is based on violence. derived from the ability to do the greatest amount of violence.

only bitcoin ownership is based on knowing a secret and not violence everything else you "own" is by the grace of the guy with the biggest stick.

>> No.25671155

>>25670161
I pay my taxes and help those who ask help of me. Just because you betray your principles at the drop of a hat does not mean others do.

>> No.25671231

>>25670571
All human enterprise is built on systems of large numbers of people. All human beings form groups, otherwise they die out extremely quickly. If you dispute this, you are a confirmed retard.

>> No.25671583

>>25668905
>open borders is unironically a fucking trap

>> No.25671725

>>25663112
+tip

>> No.25671739

Danish tax is 53% :)

>> No.25671753
File: 131 KB, 360x515, 1604270160026.jpg [View same] [iqdb] [saucenao] [google]
25671753

>>25659977
Checked

>> No.25671796

>>25670060
It does work like this you fucking moron

>> No.25671806

>>25659401
>total tax burden around here is around 60%
holy fucking ass ur getting cucked
thats your money getting taken away

>> No.25671845

>>25669353
>any dollar OVER 1m will be taxed 40%
>The original 1m will not be taxed 40%
proof of this
could be shill

>> No.25671861

Will tether destroying the market *if* it happens effect other stable coins, such as usdc or dai?

t. 10% of stack on AAVE rn in usdc/dai

>> No.25671874

>>25671005
Legitimate as in fair and conducive to moral and positive existence for all. If individual force is the basis, then those with no force cannot have any property. If a democratic government force is the basis, then all are equally protected and have equal property rights (if they do not it is a subversion of the government). This is why it is legitimate and brute individual force is not.

>> No.25671879

>>25658662
muttland is a failed experiment

>> No.25671889
File: 40 KB, 700x520, 99A47FD1-FBCC-40DC-A42E-63332F14E4EE.jpg [View same] [iqdb] [saucenao] [google]
25671889

>>25658662
Based pajeet rejecting communism

>> No.25671953

>>25658530
Don't pay tax ever

Also, you don't want to "cash out"
that's for suckers. You borrow against. That's how the ultra rich never pay taxes, as in never.

Unless you need the money in a lump sum for some reason (real estate down payment?). you can just take out a percentage periodically. Look up the 4% rule.

>> No.25672041
File: 23 KB, 359x364, pff.jpg [View same] [iqdb] [saucenao] [google]
25672041

>>25668102
Is that pic supposed to be a "gotcha" moment?

>> No.25672144

>>25671155
Gimme your money faggot, I'm a nigger.
>See, you didn't help me at all.

>> No.25672244

Everyone here pretending they get millions in gains lmaooo

>> No.25672335

>>25671953
>You borrow against.
Elaborate please.

>> No.25672705

>>25658889
Underrated

>> No.25672863

>>25662178
says who? the Lügenpresse press?

>> No.25673363

>>25659095
how can one learn these levels of baiting?

>> No.25673500

>>25659697
Anon if you think America is racist you're fucking retard.

>> No.25673521

>>25672335
Think he means taking out low interest loans using your assets as collateral

>> No.25673524

>>25671874
I'm no ancap in practical terms, but all property needs to be recognized as such is third parties accepting it. A community can come into existence without a government if everyone enforces their own rules on their members. So, whoever tries to invade someone else's property, the members of the community can help the victim, making it more of a communal force instead of individual. Basically the NAP.

>> No.25673599

>>25673521
What if the collateral value tanks? Crypto is incredibly volatile.

>> No.25673660

>>25658530
>>25658649
My wealthy liberal uncle hates trump and loves biden, wonder how he feels now

>> No.25673692

>>25662178
Many of those people were communists so it’s not all bad

>> No.25673704

>>25658662
no one wants you here lol go back to shitting in the street

>> No.25673735

1000$ 2020
>1000000$ 2022

>> No.25673743

>>25659892
Da fuk did I just read you cuck?

>> No.25673835
File: 13 KB, 396x400, 1305358909742.jpg [View same] [iqdb] [saucenao] [google]
25673835

>>25662178
>communists
>yids
>people, let alone innocent people

>> No.25673891

>>25658530
In my shitty 3rd world country, the boomers don't even know what crypto is. Feels good to be a 3rd worlder.

>> No.25673914

>>25658662
honestly what's even appealing about the US? This is coming from an American too. Is it just because it's a wealthy hegemon? Most culture here is degenerate consumerist trash, our health care system is a joke, rising obesity epidemic, I guess we have lax gun laws but even switzerland isn't half bad in that department either, plus they have far less crime. I seriously don't see the appeal.

>> No.25673967

>>25658530
Tax is theft.

>> No.25673971

>>25669058
You have to be fucking kidding. God dammit they are going to kike me out of every possible country aren’t they
The only hope is that LINK explodes to $1K this year and I can sell 80% of my stack before this bullshit reform kicks in

>> No.25673984

>>25659697
If you don't want to live in a shithole you have lots of first world countries to chose from like Switzerland with no capital gain's tax(very expensive though), or even some safe but fairly cheap "2nd world" countries like Czech Republic with 15% capital gains.

>> No.25674069

>>25673914
I'm on board with this, Switzerland is hard as fuck to get into though if you haven't already made it

>> No.25674125

>>25673914
I wanna live in the country that has arguably the best armed forces in the world in case some major international bullshit happens. Is that so wrong?

>> No.25674148

>>25659484
you probably wonder why you're poor too huh

>> No.25674178

>>25673524
What happens when I form a gang that overpowers the rest of the community and take your property? How does the NAP help you mate?

>> No.25674184

>>25661153
>population gets older on average
>health insurance rates go up
Woah, shocker.

>> No.25674204

>>25673914
>ice in drinks
>a fuck load of professional sports teams
>expansive country with a ton of national parks
>fantastic variety of food
>best college experience in the world
>wide amount of cities you can travel to just within the country alone
>you can make as much money as you want to thanks to business friendly legislature
These are just the things I like about the U.S. Literally the only negative is no free healthcare, but I'm not fucking poor and don't mind spending $10k a year on insurance and deductibles. I guess there's a lot of niggers too

>> No.25674229

What for? It's not like stocks wear out roads.

>> No.25674278
File: 32 KB, 250x191, 1286937135490.jpg [View same] [iqdb] [saucenao] [google]
25674278

>>25659095
Because it's literally white men that prop up the entire country by paying taxes. Minorities are a net drain

>> No.25674291
File: 45 KB, 800x405, ignatius.jpg [View same] [iqdb] [saucenao] [google]
25674291

>>25668905
Hopefully they'll finally leave after stinking up the place. Even better hopefully they die in the frozen tundra.

>> No.25674328

>>25674069
are you amerikwan too? I don't have I high hopes for this place in the coming century. Would unironically consider moving to switzerland if I knew I could, but I guess most would say FUCK OFF WE'RE FULL

>>25674125
like what? The vast majority of our military ventures aren't even for the benefit of the populace. Why does it matter? I guess to ward off invasion state side, but I see no geopolitical reason a country would try to invade the US.

>> No.25674367

>>25674178
What happens if I form a gang stronger than the government military forces and take all the citizens' property?

>> No.25674501

>>25658662
>>25670083
Based Biden, keeping the shitskins out. 100% worth the tax increase.

>> No.25674510

>>25659401
that is 40% federal. States can have their own tax, bumping it up closer to 50% in some cases.

>> No.25674514

>>25674204
>ice in drinks
This isn't unique to the US, I assume it's the same in other first world countries.
>a fuck load of professional sports teams
just lol @ considering immigrating to a country because of sportsball
>expansive country with a ton of national parks
probably the only thing I agree with, but again national parks aren't unique to the US
>best college experience in the world
KEK, not in the slightest. Unless you consider being up to your eyeballs in debt until you're well into your 30s, maybe even 40s.
>wide amount of cities you can travel to just within the country alone
Most criminal places in the whole country.
>you can make as much money as you want to thanks to business friendly legislature
It's incredibly hard to compete as a mom and pop style business here with the seemingly indefinite chain stores propping up everywhere.

>> No.25674554

>>25674367
that has happened many times throughout history, but it's much easier to overpower a smaller community with no professional military.

>> No.25674636

Is Biden going to do UBI so I can quit my amazon job?

>> No.25674663

Just move to Puerto Rico for 6 months out of the year, then cash out

>> No.25674682

DON’T WASTE AND BE A DUMP

>> No.25674690

>>25658649

For clicking a button and not contributing jack to society? Sounds fair

>> No.25674710

>>25658530
Waht happens if you just purchase with crypto

>> No.25674793

>>25658530
Only one way to deal with tyrants. When people have nothing left to lose, sacrifices are made.

>> No.25674844

>>25674690
Fuck Society. Literally.

>> No.25674845

>>25674554
That's just a matter of the size of the community/country and not the system that regulates it.
There could perfectly exist an entire country ruled by the NAP that could defend against invaders.

>> No.25674987

>>25674845
you need a professional military(full time employees paid by tax monies). Larpers don't cut it in the modern world

>> No.25675114

>>25673599
The idea is that let's say you're using btc as collateral, you take out a 3 year loan at 1%, chances are at the end of those 3 years your btc will be worth more. Short term volatility can be ignored. So there's a strong chance you'll be able to pay off your first loan by taking out a new loan in 3 years. You do this indefinitely and as a result you never sell.

>> No.25675189

so if you make 11 million dollars, the first million isn't taxed, but the remaining 10 million is taxed 40 percent, leaving you with 7 million?

>> No.25675231

>>25674987
But people choose to become soldiers. They can easily pay for the service.
As long as there's a need, there will be people willing to pay for it.

>> No.25675301

>>25662777
checked and dangerously based

>> No.25675304

>>25659309
>smart, necessary
how is it smart and necessary bug?

>> No.25675340

>>25659323
>Trump should be printing MORE money!!
lol you misspelled federal reserve