CRYPTO TAX INFO ... AND ... THE FUTURE OF DASH
(USA ONLY)
So I have summarily reviewed the U.S. tax position given by the IRS.
The biggest take-away points are as follows:
1. They are looking for input on how to deal with it - I can help here if 'Dash' can figure out what it 'wants';
2. The use of the word 'property' is confusing, because the IRS has written rules (and penalties therefrom going back to 2014) that allows taxation in every conceivable way, and in my opinion not always consistent with already existing tax classifications.
Here is/are definitions of property:
https://www.investopedia.com/terms/p/property.asp
I searched for the words 'wage' and 'income' and they were not found. And yet, the IRS already taxes it as these, among other things.
All the ways the U.S. wants to tax pretty much blocks the goals, vision, and mission of Dash. However, it can be fixed. I think Dash has several issues that need to be fixed, but first discussion and consensus is needed. And that seems to be very cumbersome and burdensome, and seems to lack participation, fairness, and justness.
Where to start?
1. Do you want Dash to be a 'single valued' global currency? (I don't think this is wise, fair, reasonable, or reality any time soon. Value per country is more practical, reasonable, do-able and safer for human-kind.)
2. Illicit intent and action(s), with no prevention or penal system in place, are major problems and barriers.
3. Present governance is unfair, costly, untimely, inefficient, unorganized, uninformed, and lacks participation.
The more concerned, interested, and active Dash people and MNs become to solve these issues, the quicker Dash will be usable as envisioned.
An upgraded voting system is needed. Three-prong would be helpful: governance (procedures), penal, and budget (proposals - bifurcated: pre- and present).
Fee options: none and/or fiat static-based (i.e. $35 USD per month ) - fees split amongst participants (i.e. MNs and Community who actively help/vote). Systemic fairness - no lobbying, 'gaming', or other inequities or abuses.
That's it for now.
