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If you think inflation is an indirect tax, ok fine, but why wouldn't legislators just pass a 3% bitcoin tax instead after bitcoin?
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Assuming for sake of argument that it is correct that money printing is all a ploy to steal wealth from the people ho hold cash, indirectly at a rate of about 3% a year via inflation...

And assuming that you remove this source of income from the fat cats in charge, by global adoption of bitcoin...

The fat cats can simply then impose a 3% tax on all bitcoin held wealth per year, and recoup precisely the same income as with money printing.

Nobody is going to revolt or mass emigrate or anything, because in this thought experiment, it would be exactly the same as now, and nobody is revolting or mass emigrating right now.

So there's no incentive not to do this, and it perfectly undermines the main alleged benefit of bitcoin, no?

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3 years ago