Bitcoin to Be Globally Taxed: New Economic Forum Initiative
Global economists are preparing a plan to tax Bitcoin to fund a global aid fund. The secrecy of the bitcoin ledger disallows any government to levy taxes on account holders. But since each account owner is ‘somewhere on the planet’ it serves as a valid object of taxation towards a global cause like climate change, world poverty, and infectious diseases. Bitcoin accounts are fully disclosed as to their wealth, and a tax order by a global agency can be placed against each account, in proportion to its value. In reality high-worth accounts are subject to extensive BigData analytics that eventually exposes the identity of their owner. Account holders — so the argument goes — will have a strong incentive to pay the levied tax, rather than become a target for prosecution at a future date when their identity is coming to light. Some planners believe that the moral high ground assumed by the purpose of this bitcoin tax will cause the bitcoin community to build the tax requirement into the trading protocol. As the capital value of bitcoin rises, so rises its attraction as a source for social good.