Dogecoin Co-Founder Questions U.S. Taxation Policy
The post Dogecoin Co-Founder Questions U.S. Taxation Policy appeared on BitcoinEthereumNews.com. This is his second remark on the topic in as many weeks; his first concerned with crypto. Markus offered his thoughts on the tax structure in the United States. Billy Markus, who co-created the Dogecoin (DOGE) with Jackson Palmer in 2013 has spoken on taxation systems in the U.S under the alias Shibetoshi Nakamoto on twitter. This time, Markus offered his thoughts on the tax structure in the United States. This is his second remark on the topic in as many weeks; his first concerned with crypto. In response to a twitter post by the account @unusual_whales, Markus pointed out that the account had referenced statistics from the Federal Reserve showing that the 55.8 million Americans aged 65 and older currently make up 17% of the country’s population and hold “half of America’s wealth,” which the government may progressively remove via taxes. Intrinsic Worth This was met with criticism from DOGE’s creator, who said, “The government is salivating over getting to re-tax the already taxed money when they die.” On October 9th, Markus said that if the U.S. government does not think cryptocurrency has intrinsic worth, then it should not tax cryptocurrency transactions. The co-founder tweeted: “Then return all the taxes y’all made me pay for receiving it you horrific evil hypocrites.” Supporting him at the time was Elon Musk, who tweeted, “It’s real if you have to pay taxes, but otherwise not real?” The crypto community may have been surprised by Markus’s answer. Moreover, he put it succinctly, “Its realness is transitory.” Whether or not Billy Markus considers all cryptocurrencies to be genuine assets is still up for debate. He recently came clean about his preference for Bitcoin and Ethereum over tokens built on the ERC20 standard. Highlighted Crypto News Today: Ethereum Developers Gear Up for Deneb-Cancun Upgrade Source:…
The post Dogecoin Co-Founder Questions U.S. Taxation Policy appeared on BitcoinEthereumNews.com.
This is his second remark on the topic in as many weeks; his first concerned with crypto. Markus offered his thoughts on the tax structure in the United States. Billy Markus, who co-created the Dogecoin (DOGE) with Jackson Palmer in 2013 has spoken on taxation systems in the U.S under the alias Shibetoshi Nakamoto on twitter. This time, Markus offered his thoughts on the tax structure in the United States. This is his second remark on the topic in as many weeks; his first concerned with crypto. In response to a twitter post by the account @unusual_whales, Markus pointed out that the account had referenced statistics from the Federal Reserve showing that the 55.8 million Americans aged 65 and older currently make up 17% of the country’s population and hold “half of America’s wealth,” which the government may progressively remove via taxes. Intrinsic Worth This was met with criticism from DOGE’s creator, who said, “The government is salivating over getting to re-tax the already taxed money when they die.” On October 9th, Markus said that if the U.S. government does not think cryptocurrency has intrinsic worth, then it should not tax cryptocurrency transactions. The co-founder tweeted: “Then return all the taxes y’all made me pay for receiving it you horrific evil hypocrites.” Supporting him at the time was Elon Musk, who tweeted, “It’s real if you have to pay taxes, but otherwise not real?” The crypto community may have been surprised by Markus’s answer. Moreover, he put it succinctly, “Its realness is transitory.” Whether or not Billy Markus considers all cryptocurrencies to be genuine assets is still up for debate. He recently came clean about his preference for Bitcoin and Ethereum over tokens built on the ERC20 standard. Highlighted Crypto News Today: Ethereum Developers Gear Up for Deneb-Cancun Upgrade Source:…
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