> Besides which, on assets, taxes is normally only collected when an item is sold.
Plenty of countries have an asset tax that you need to pay annually[1]: Argentina, Spain, India, Norway, Switzerland, and Italy. Spain's wealth tax goes high as 3.75%!
Granted, it doesn't appear that Craig Wright's home country of Australia has an asset tax on cash or currency holdings.
Furthermore, if you think about it, pretty much every country in the world has a type of asset tax that you need to pay annually -- it's called property tax. You need to pay your annual property tax even if you never sell your house.
Right, so we're talking about bitcoin, and you bring up houses. We're talking about Australia and you bring up other countries. Does the term strawman mean anything to you?
Plenty of countries have an asset tax that you need to pay annually[1]: Argentina, Spain, India, Norway, Switzerland, and Italy. Spain's wealth tax goes high as 3.75%!
Granted, it doesn't appear that Craig Wright's home country of Australia has an asset tax on cash or currency holdings.
Furthermore, if you think about it, pretty much every country in the world has a type of asset tax that you need to pay annually -- it's called property tax. You need to pay your annual property tax even if you never sell your house.
[1] https://en.wikipedia.org/wiki/Wealth_tax