We should not have to pay taxes on crypto spend on purchases, we are already taxed too much.

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We should not have to pay taxes on crypto spend on purchases, we are already taxed too much.

In the United States you could owe taxes to the IRS even if you don't sell your crypto. Converting from one crypto to another is a taxable event and spending crypto in any purchase is also.

We get money taken out of our paychecks every time we receive one. On top of that when we go to the store we have to pay tax on top of the price that is listed in the tag. Now if we want to use crypto we would have to pay an additional tax in the total number of purchases at the end of the year.

This is getting ridiculous, I can understand in paying taxes if you sell for a gain but not if it's for a purchase.

I personally think that if they stopped taxing crypto purchases we could see a significant increase in people purchasing with crypto.

submitted by /u/AnonymousACM
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