1596
Let's play the rich get everything. The rules are the rich get everything. participation is mandatory.
(lemmy.world)
Did I say mandatory? I meant optional! You're "free" to die in a cardboard box under a freeway as a market capitalist scarecrow warning to the other ants so they keep showing up to make us more!
They shouldn't be taxed because they're just that, unrealized. They may be worth next to nothing one day. If you use them as collateral, you're still on the hook for the value you originally took out the loan for, regardless of the loss of the investment.
This argument applies to my wages too if I elect not to be paid in USD. Are you arguing that, say, Bitcoin income should be untaxable just because it could depreciate relative to the USD tax liability it generates.
You're getting confused between a payment & an investment. The medium in which you are paid is irrelevant. The payment is the end of the transaction and therefore is the point at which it is taxed.
Precisely. The medium of value delivery is irrelevant, as soon as you extract value by borrowing against an asset you have completed a transaction and therefore is a point at which it could (/should though that's the debate I guess) be taxed.
In both cases (payment in bitcoin or borrowing against stock) your remaining position could go to zero leaving you liable for tax you don't have money to pay, but that's on you to manage better.