[ExI] I see pitchforks.

[Dylan Distasio]

Spike-

Putting aside the fact that I'm not in favor of a wealth tax, movements
into and out of gold and bitcoin from a "real" currency are generally
required to do anything useful with either of them.   This makes them not
as easy to use to hide money as you're hinting at, especially for any
significant quantity.   Bitcoin is also not suitable as a proxy for a
currency at this point as it's way too volatile IMO.  I am sure people will
find a way to avoid taxes if they are too onerous by hook or crook though,
so I guess we agree.

On Mon, Jul 8, 2019 at 9:37 AM <spike at rainier66.com> wrote:

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> *From:* extropy-chat <extropy-chat-bounces at lists.extropy.org> *On Behalf
> Of *John Clark
> *Sent:* Monday, July 8, 2019 4:04 AM
> *To:* ExI chat list <extropy-chat at lists.extropy.org>
> *Subject:* Re: [ExI] I see pitchforks.
>
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> On Sun, Jul 7, 2019 at 6:13 PM <spike at rainier66.com> wrote
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> >> *Could you imagine how complicated tax returns would become if we had
> to estimate our total net worth? *
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> >…If the wealth tax didn't kick in until it reached the billion dollar
> range then that wouldn't be much of a problem for the average taxpayer…
>
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> Ja, but how would you determine if you are an average taxpayer?  Couldn’t
> those who are in the billion dollar range just claim to be an average
> taxpayer?  How would they get to be identified as not average taxpayers?
> Alternative: those average taxpayers who think they might be approaching
> non-average status would dump their wealth into gold, BitCoin, things which
> cannot be declared (if you have any brains) or whose value is arbitrary.
>
>
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> >…And billionaires already have accountants, lots of them, that's one
> reason they pay so little taxes…
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> Sure but the accountants don’t know about the gold and BitCoin.  If you
> hold that stuff you need to keep it secret.
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> >> *The gold and BitCoin people would be dancing.  You can’t declare
> those.*
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> >…Why not?   John K Clark
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> Because people will come to your house and break in to steal it.  If you
> hold BitCoin and a lot of people know, they will steal your children to get
> it from you.
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> Also, keep in mind, the notion of a billion dollars is arbitrary:
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> https://www.greatamericancoincompany.com/products/100-trillion-zimbabwe-banknotes-2008-aa-series-uncirculated?variant=8907776196665&gclid=EAIaIQobChMInfL11bWl4wIVA6rsCh1nXQKiEAQYASABEgIFpfD_BwE
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> If you present the notion of taxing billionehhhs, just remind the voters
> that income tax started out only taxing those who made over 100k a year,
> which was only this guy and a few others:
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> https://www.google.com/search?biw=1411&bih=980&tbm=isch&sa=1&ei=cUQjXYTEH5HB-gTPiY2wBA&q=monopoly+guy+gif&oq=monopoly+guy+gif&gs_l=img.3..0j0i5i30.3572.5043..6549...0.0..0.65.504.9......0....1..gws-wiz-img.......0i8i7i30.UWTwzjotENo#imgrc=pIwRNXsYkkxd7M:
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> and a few others such as Montgomery Burns, but soon it included nearly
> everyone.
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> Then we are left with trying to estimate our current net worth.  OK… how?
> And what if… the government disputes your estimate?  Do they get to
> arbitrarily estimate your net worth?  How?  Do you want the government
> having the arbitrary power to estimate your tax bill, when you have little
> or no recourse?
>
>
>
> >… I see pitchforks.
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> The young proletariat google for the definition of the term “pitchfork”
> which they have never actually seen nor have a clue where one might be
> found.
>
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> When they find it, they wonder what good this object would be for facing a
> standing army with rifles, a well-regulated militia (with rifles) and most
> of the citizenry (with rifles) who recognize there is no objective way to
> estimate one’s net worth.
>
>
>
> John, do you know of one?  How?
>
>
>
> spike
>
>
>
>
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