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| March 23, 2019

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Stocks tumble as fears about the U.S. and worldwide economy spread

March 22, 2019 |

Fears of a steeper slowdown in the global economy rattled financial markets Friday, sending stock prices sharply lower and bond prices higher as investors piled into safer securities.

The stock market has been climbing this year — and celebrated its historic, 10-year-bull rally two weeks ago —…


L.A. Times – Business

Trump rages about Electoral College reform and lowering voter age to 16 in midnight Twitter tirade

March 22, 2019 |

Trump rages about Electoral College reform and lowering voter age to 16 in midnight Twitter tiradeDonald Trump has used his latest overnight Twitter tirade to rail against proposals among some Democrats to abolish the Electoral College system and lower the voting age to 16. “Campaigning for the Popular Vote is much easier & different than campaigning for the Electoral College,” Mr Trump tweeted on Tuesday evening. The president’s outburst came after Elizabeth Warren, a leading Democratic contender for 2020, called for a popular vote to replace the complex Electoral College system, in which a president is selected by “electors” that people in each state vote for.



Yahoo News – Latest News & Headlines

This Short Animation Might Make You Think Twice About Taxes

March 21, 2019 |

This Short Animation Might Make You Think Twice About Taxes

A Bitcoin Cash (BCH) supporter recently noted that the biggest hindrance to cryptocurrency adoption is tax laws and reporting taxes on digital currency usage. After reading the commentary, Bitcoin.com CEO Roger Ver shared a four-minute video about the subject of taxes in order to spark questions in the minds of people who might not understand what taxes are and why they have hindered the crypto economy.

Also read: 5 Popular Crypto ATMs That You Can Purchase Today

This Short Animation Teaches About Taxation and Why People Believe it Is Immoral

On March 10, the Bitcoin.com Official Youtube channel aired a brief video called “George Ought to Help,” an animated short on taxes and a universal agreement called the Non-aggression Principle. Bitcoin.com’s owner Roger Ver shared the video because a lot of cryptocurrency advocates have been talking lately about how taxation is not helping the crypto economy flourish. In fact, the process is constraining the digital currency industry with old school shackles that don’t fit this technology. The animated short “George Ought to Help” explains the idea of taxation in very simple terms by not leaping to conclusions but by merely asking a few thought-provoking questions.

This Short Animation Might Make You Think Twice About Taxes
Have you seen the short film “George Ought to Help?” Check it out here today.

The video asks you to imagine that you have a friend called George that you’ve known since childhood. However, you two are not as close as you were back when you were children, but you still meet George from time to time and get along very well. But one day while hanging out with George, another mutual friend named Oliver approaches who explains that he’s had a run of bad luck. Oliver details that he’s raising money for tuition fees for his kids and you decide to help Oliver out by giving him some money. George, however, does not offer any help and you try and persuade him but George just won’t budge. The video then asks an important question:

Imagining yourself in this situation — Do you think it’s okay to threaten to use physical force against George to get him to do the right thing?

In another example, the video asks you to imagine a slightly different situation. In this example, a group of your friends take a vote and 6 out of 10 are in favor of threatening George to get him to help Oliver. Again, another interesting question arises from the situation and the video’s narrator asks: “Does this democratic process make it okay to threaten George?” And with one last change to the concept, the video’s narrator supposes this time that thousands of people have democratically agreed that a group called the ‘agents’ shall do whatever is necessary to take money from George and give it to Oliver’s family.

This Short Animation Might Make You Think Twice About Taxes

The agents don’t explicitly threaten George at first as all they do is send him a bill. Like everyone else, George knows what will happen if he doesn’t pay the bill. First, he will get more letters demanding payment and the bill will get bigger. Eventually, if he still doesn’t pay, the agents with guns will break into his house and take him away against his will. Almost everyone pays the bills without question because they know that agents are prepared to use as much force as necessary to overpower those who resist. The video’s narrator poses another question to the viewer:

Do you think it’s acceptable for the agents to threaten violence against George if he doesn’t give his money to helping Oliver’s family?

Bitcoin’s Peaceful and Permissionless Existence Is the Exact Opposite of Compulsory Tax Collection

The video further explains that if a forced redistribution of wealth is approved by society then people must also accept that violence made against peaceful individuals is okay. Right now, in nearly every nation state, the use of violence, force, and coercion is how taxes are collected. Most of us feel uncomfortable with making these threats on our own, so with the so-called democratic system, people can accept the process when violence is executed by agents of the state. Over the last few decades, a growing number of people have came to believe that taxation is immoral because it is a form of theft due to its inherent use of threats of violence that transgress against property rights.

This Short Animation Might Make You Think Twice About Taxes

The animated short “George Ought to Help” shows how enforcing compulsory tax collection goes against society’s underlying non-aggression axiom or the golden rule. Known as the Non-Aggression Principle (NAP), it holds that it is immoral to initiate or threaten force against a peaceful individual’s property, even when a large majority of people vote to use force. However, as a large society, we have found that using ‘agents’ and so-called ‘representatives’ helps people ignore the NAP, because the person doesn’t have to accept responsibility for their actions if they decide to initiate violence. Using the ballot box to enforce taxes is far easier than attempting to collect these funds on your own.

Bitcoin allows for peaceful and voluntary trade in a permissionless manner and the idea that regulations and taxation will help bolster the crypto economy is absurd. Compulsory tax collection is the complete opposite of the inherent nature of Bitcoin and the technology’s peer-to-peer innovation. There is a reason taxes and cryptocurrencies mix like oil and water and the four-minute animated film gives a great explanation to why this is the case. People should forget about the complicated process involved with crypto taxes and question the very nature of taxation because to this day the system continues to encourage violence and the use of force against peaceful individuals.

Do you want to learn more about taxation, the NAP, and voluntaryism? Check out the links below for more resources including the short animation “George Ought to Help” by Tomasz Kaye.

What do you think about the video “George Ought to Help”? Let us know what you think about taxation and the non-aggression principle in the comments section below.

OP-ed disclaimer: This is an Op-ed article. Some of the opinions expressed in this article are the author’s own.


Image credits: Tomasz Kaye: Voluntaryist and Creator of “George Ought to Help,” Bitcoin.com, and Pixabay.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post This Short Animation Might Make You Think Twice About Taxes appeared first on Bitcoin News.

Bitcoin News

Long-term Lot C at LAX about to close, replaced by Lot E near Proud Bird

March 19, 2019 |

Say so long to Lot C, the cheap but often packed long-term parking facility at LAX. The large lot will close to new customers April 1. Those already parked there at the time will have till April 19 to remove their vehicles.

In its place, meet Lot E, a new long-term lot that opens March 28. As with…


L.A. Times – Business

Vast Majority of Republicans Agree About ‘Witch Hunt’

March 18, 2019 |

President Trump refers to the Robert Mueller investigation again and again as a “witch hunt,” and it appears that a decent number of Americans agree with him. A poll by USA Today and Suffolk University finds that 50% of respondents agree with the president’s contention that he is the victim…
Newser

At meeting with Boeing staff, pilots fumed about being left in dark on 737 software

March 18, 2019 |

Boeing executives sat down in November with pilots at the Allied Pilots Assn.’s low-slung brick headquarters in Fort Worth.

Tensions were running high. One of Boeing’s new jets — hailed by the company as an even more reliable version of Boeing’s stalwart 737 — had crashed into the ocean off Indonesia…


L.A. Times – Business

Chelsea Clinton confronted at NYU vigil for mosque victims over her remarks about Omar

March 16, 2019 |

Chelsea Clinton received an earful in New York City on Friday night from a college student who said the former first daughter “stoked” the hatred behind the massacre earlier in the day in Christchurch, New Zealand.
FOX News

What you need to know about the grounded 737 Max

March 14, 2019 |

Following two deadly crashes, the U.S. joined the rest of the world in temporarily grounding the Boeing 737 Max, the newest version of one of the most popular planes in the world.

The causes of the crashes — one in Indonesia and the latest in Ethiopia — haven’t been determined, but plane manufacturer…


L.A. Times – Business

NLRB shouldn’t have subcontractors work on rule about subcontractors, Democrats say

March 14, 2019 |

Under President Trump, the National Labor Relations Board told its employees that tight budgets will require cuts to compensation and even downsizing, an agency union said. So it came as a surprise when the union learned the board wants to pay subcontractors to do work that employees traditionally…


L.A. Times – Business