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One of the reasons I really don't like Bitcoin is because Bitcoin has become the currency of choice for espionage around the world. If you're a North Korean trying to recruit an American scientist, you're you're gonna pay them in Bitcoin. Well, if you're a Chinese person trying to report to American intelligence, you're probably also getting paid in Bitcoin.

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Voting for a ban on Congress members trading stocks? It's low on my priority list. I've faced accusations of insider trading despite having only about $20,000 in the market. I even had to threaten Fox News with defamation over false claims. While some support a ban, it doesn't affect me much since I have little invested. Sure, there are questionable trades by some, like Nancy Pelosi, but those examples are rare. If we ban stock trading, it might make Congress a place only for the wealthy, as we haven't had a pay raise since 2008. People think banning stock trading or imposing term limits will solve their problems, but those ideas need more thought. Would I vote for a ban? Sure, it doesn’t matter to me since I have no significant investments.

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I've always been against crypto, especially Bitcoin, because it is mainly used by criminals for activities like drug trafficking, money laundering, and tax evasion. Its anonymity and instant money transfers allow it to bypass systems like know your customers, sanctions, and OFAC. If I were in power, I would shut it down. On September 12th, Jamie Dimon called Bitcoin a fraud and threatened to fire any trader buying it. This caused a 24% drop in Bitcoin's value. Interestingly, Morgan Stanley and JPMorgan, companies led by Dimon, were the largest buyers of a Bitcoin fund in Europe. It's unethical for Dimon to criticize Bitcoin while his own company is investing in it.

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One of the reasons I really don't like Bitcoin is because Bitcoin has become the currency of choice for espionage around the world. If you're a North Korean trying to recruit an American scientist, you're gonna pay them in Bitcoin. Well, if you're a Chinese person trying to report to American intelligence, you're probably also getting paid in Bitcoin.

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Today, nearly half of every dollar earned in the U.S. goes to taxes, often unnoticed because they are embedded in business costs. Politicians advocate for taxing businesses to help the average person, but these taxes ultimately increase product prices, acting as a hidden sales tax. There are numerous such taxes affecting consumers. Additionally, there is a call to raise corporate taxes to ensure that large corporations and billionaires contribute their fair share. While success is not criticized, the emphasis is on the importance of equitable tax contributions from those who can afford it.

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I am against the U.S. Government issuing a digital currency directly to citizens. It would give the government too much power and control, potentially leading to the elimination of cash and complete control over our lives. I warned the people of Italy about this when they were considering vaccine passports and central bank digital currencies. In China, if you don't meet a certain social credit score, the government can restrict your spending abilities. They can limit your credit cards to only work at nearby grocery stores, preventing you from buying gasoline, traveling, or purchasing items and food from other parts of the country or abroad. This kind of government control is concerning and could lead to serious consequences for all of us.

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We went from a small tax on tea to being heavily taxed on everything - from earning money to spending it, commuting, owning a home, and even dying. The complexity of our tax system is overwhelming, with over 26,100 pages in the federal tax code alone, not to mention thousands more IRS regulations written by bureaucrats. It's a never-ending cycle of taxation on every aspect of our lives.

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We started with a small tax revolt, but now we're taxed on everything - earning, spending, saving, investing, and even dying. We pay taxes on our commute, work, and home, which we already bought with taxed money. The more we earn, the more the government takes. Taxes are everywhere, from our morning coffee to our paycheck.

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Someone questions why money is taxed multiple times. They describe a scenario where someone gives them $500 that has already been taxed. They then have to pay taxes on that $500. When they spend any of that money, they pay taxes on the item they purchase. The person they bought the item from also has to pay taxes on the money received. They suggest that every dollar is taxed repeatedly.

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I strongly oppose crypto like Bitcoin because its main use case is for criminals, drug traffickers, and tax avoidance. It offers some anonymity and instant money transfers, bypassing established systems like know your customers, sanctions, and OFAC. If I were the government, I would shut it down.

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If Doge targets USAID today, they might go after other agencies tomorrow, like the postal service or the IRS. There's a disconnect in our reactions; Chuck Schumer suggests that if they audit USAID, they could also audit the IRS or postal service. The IRS audits individuals, and there's a fear that your money could be used against them. Has anyone else noticed this?

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If crypto is to shape the future, it should be mined, minted, and made in the USA. I believe that as Bitcoin rises, America will lead the way in this revolution.

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Speaker 0 notes that Council has discussed crypto regulations and legislations at length. They conclude that instead of regulating, we are going to ape a fat bag each into laptop and pump it to over a billion 300,000,000 trillion market cap. "Let's fucking go crackheads." The statement conveys a dramatic pivot from regulatory deliberation to an aggressive investment stance in cryptocurrency, delivered in a bold, confrontational tone. It frames the approach as not merely legislative but an active orchestration of capital into digital assets, with the aim of creating an enormous market valuation. The excerpt preserves the exact quoted claim and highlights the proclaimed shift in policy posture from regulation to rapid asset deployment.

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The speaker expresses frustration over the lack of an ETF for Bitcoin in the past, believing it could have created significant wealth for Americans. They argue that regulators prevented the American people from benefiting, as the wealth ended up in the hands of international entities. While supporting sensible regulation, the speaker believes that the current situation is not in America's best interest. They highlight America's history of innovation and entrepreneurialism and express concern that regulators are stifling innovation by enforcing regulations instead of creating them. The speaker hopes that regulators will focus on enforcing existing laws rather than creating new ones.

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Joe Biden and another speaker plan to get rid of a tax bill/cut. Proposals include raising the corporate tax rate, increasing estate taxes, and taxing capital gains. One speaker believes unrealized gains should be taxed, while another finds taxing what you don't have unfair. It is argued that property tax is already a tax on unrealized gains, as homeowners pay higher taxes when their home value increases, even without selling. A carbon fee is also proposed, with the caveat that there should be a connection between the fee and bad behaviors. It must be monitored whether the fee will be passed on to consumers, but this should not be a reason to avoid implementing a carbon fee.

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There is a lot of optimism and political naivete surrounding Bitcoin, but it's important to understand the challenges it faces. The financial government complex will try to keep the technology at bay, but they won't completely kill it. They want people to see what they've done without causing too much disturbance. Their strategy is to throw little bits of sand in the engine of Bitcoin until it becomes too difficult and cumbersome for most people to use. Then they can dismiss it as an interesting idea that didn't work out as people wanted.

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Nation states should pay more attention to the rise of cryptocurrency. Bitcoin was created by engineers who were dissatisfied with the unfairness of the financial crisis and wanted to create a better form of money. They used the Internet and cryptography to develop an immutable ledger, a bank in cyberspace where people can store their money without trusting each other, the government, or any corporation. There are 21 million coins in this system, and no more can be created. The identity of the founder is not important because Bitcoin needs to be a decentralized currency. However, the mining of new coins has the potential to undermine currencies, destabilize nations, and challenge the role of the US dollar as the reserve currency.

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We went from fighting a 2% tax on tea during the revolution to being taxed on money in various ways today. Taxes are imposed on income, spending, saving, investing, and even driving. The government takes more as you earn more. The federal tax code is 26,100 pages, with over 9,000 additional IRS regulations. Despite this, infrastructure funded by taxpayers is deteriorating. Our founding fathers would be displeased with the current tax system.

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Today, nearly half of every dollar earned in the U.S. goes to taxes, often unnoticed because they are embedded in business costs. Politicians advocate for taxing businesses to help the average person, but these taxes ultimately increase product prices, acting as a hidden sales tax. There are numerous such taxes affecting consumers. Additionally, there is a call to raise corporate taxes to ensure that large corporations and billionaires contribute their fair share. While success is commendable, it is crucial that everyone pays their fair share of taxes.

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The speaker strongly opposes cryptocurrencies like bitcoin, stating that their only real use is for criminals involved in drug trafficking, money laundering, and tax evasion. This is because cryptocurrencies offer some level of anonymity and allow for instant money transfers without going through established systems like know your customer protocols, sanctions, and OFAC. The speaker suggests that if they were in the government's position, they would shut down cryptocurrencies.

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High taxes in the US aren't the main issue; they don't fund the government. The government is financed by printing money through treasury bonds bought by the Fed. This creates an illusion that taxes support the government, but it's really money printing. If this truth is widely known, it could lead to a currency crisis. The next US president must make significant changes to prevent a collapse. Winning elections won't fix the problem; a complete overhaul of the government is necessary. It will be tough, but it's essential to secure the country's future.

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Thank you. It’s good to be here. We've been discussing how to pay for my plans. They're logical, but Washington isn't. How will I convince a divided Congress to support them, given their past behavior? It will involve taxes. Economists across the spectrum agree, although Congress isn't made up of economists. I understand the concern, but that's the reality.

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Looking back at the previous administration, there were many positive statements made that differed from the current stance of regulators. Now, the key is to see what actually happens. Understandably, changes take time. Financial regulators are large government entities, and they have been hindering crypto for years. The US accounts for a significant portion of global finance, yet only a small percentage of global crypto. This disparity is primarily due to regulatory challenges. The US has been uniquely difficult to work with. The critical question is whether the administration will take the necessary actions and find effective solutions.

The Pomp Podcast

David Kemmerer, Co-founder & CEO of CryptoTrader.tax: How The IRS is Viewing Crypto
Guests: David Kemmerer
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In this episode of Off the Chain, Anthony Pompliano interviews David Kemmerer, co-founder and CEO of Crypto Trader Tax. They discuss the complexities of new IRS tax guidance for cryptocurrencies, highlighting the challenges investors face in reporting their holdings due to the legacy infrastructure of exchanges. Kemmerer shares his entrepreneurial journey, including his previous venture with a college-themed card game that faced legal issues, leading him to the crypto space. He explains that cryptocurrencies are treated as property by the IRS, resulting in capital gains and losses similar to stocks, but with additional complexities due to the nature of crypto transactions. The conversation touches on the lack of tax professionals knowledgeable in cryptocurrency, creating a demand for services like Crypto Trader Tax, which automates tax reporting for crypto investors. Kemmerer emphasizes the importance of accurate reporting and the need for better guidance from the IRS, suggesting a de minimis tax exemption for small transactions. They also discuss the potential for international expansion of their services and the evolving landscape of crypto taxation as more people engage with digital assets. The episode concludes with insights on the future of crypto and its integration into mainstream finance.

20VC

Scott Galloway on Billionaire Happiness, Money & Self-Worth | Why We Should Drink More & Not WFH
Guests: Scott Galloway
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Harry and Scott open with a stark premise: for the first time, a 30-year-old isn’t doing as well as his parents did at that age, economically or romantically. Without romantic guardrails, many young men channel energy into gaming, porn, and conspiracy theories. The takeaway: to advance financially and romantically, you must endure rejection and eat a lot of humble pie. On the macro side, the mag seven dominate value: 34% of the S&P, 50% of global equity, and 70% of enterprise value in the US, with the risk that a sneeze from one could tip the whole economy. Public markets reward leading brands through press releases and cheap capital, allowing giants to overwhelm competitors—Netflix, Amazon, Google, and others. Regulation emerges as a political fulcrum. Galloway argues for balance: minimal but thoughtful intervention; notes Europe’s heavy-handed approach can hinder innovation, while America benefits from forgiveness-not-permission. He calls for crypto clarity, considers antitrust breakups as remedies, and suggests policy ideas—universal childcare, national service pilots, and a simpler tax regime to rebalance incentives. Beyond markets, the conversation dives into a widening wealth gap. Seniors capture a share, driving costs higher for younger people. Proposals range from a unified 30% tax on earnings above threshold, eliminating capital gains tricks, to a youth tax holiday and on-ramps for work and vocational training. The aim is to ease obesity, anxiety, and depression among young adults. On relationships, dating apps frame a masculine mating market, where a few high-status men attract most attention and many average men churn through swipes for fleeting coffees. The lack of guardrails, remote work, and rising costs push some toward isolation, gambling, or crypto. Women’s rising economic standing shifts mating dynamics, and many couples report complex compromises in long partnerships. Money reshapes identity. Galloway shares his journey from poverty to wealth, the thrill of hitting a personal number—beyond which he gives away what remains—and a broader purpose: to be generous, patriotic, and a dad. He wrote The Algebra of Happiness and argues for kinder leadership, more gratitude, and deliberate love for family, while acknowledging insecurities and trying to stay grounded and helpful to others.
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