Joe Biden obviously wishes to put a ‘environment modification tax’ on cryptocurrency mining now.
Does anybody think that Biden even understands what cryptocurrency is or how it works? And additionally, what does it relate to environment modification?
It’s nearly like Democrats are simply taking a look around at whatever under the sun for a reason to gather more taxes. Practically.
From Yahoo News:
Biden proposes 30% environment modification tax on cryptocurrency mining
The White House is attempting to convince Congress to pass a 30% tax on the electrical power utilized in cryptocurrency mining in the next federal budget plan in order to lessen the nascent market’s influence on environment modification.
” Cryptominers’ high-energy intake has unfavorable spillovers on the environment, lifestyle, and electrical energy grids where these companies find throughout the nation,” the president’s Council of Economic Advisers (CEA) argues in an article that will appear on the White House site on Tuesday, to which Yahoo News got advance gain access to. The post will set out the case for the Digital Asset Mining Energy (DAME) excise tax, which the CEA composes is an “example of the Administration’s efforts to combat environment modification and lower energy costs.”
” Currently, cryptomining companies do not need to spend for the complete expense they trouble others, in the type of regional ecological contamination, greater energy costs, and the effects of increased greenhouse gas emissions on the environment,” the CEA composes in its post. “The DAME tax motivates companies to begin taking much better account of the damages they trouble society.”
Burning nonrenewable fuel sources to develop electrical energy represent 25% of yearly U.S. greenhouse gas emissions and releases hazardous air toxins such as nitrogen oxides and particle matter.
Critics of the proposed tax state the crypto mining market is being unjustly targeted. “This puts a clear line in the sand that they do not like the market. They are trying to find methods to hamstring it,” Tom Mapes, director of energy policy at the Chamber of Digital Commerce, informed Yahoo News. “This is simply a method to pursue the market which they do not support.”
Doesn’t this all sound sort of dumb?
These sort of anti-capitalist wacko policies are going to wind up driving whatever associated to crypto overseas, which would be the equivalent of driving all Internet-related companies out of the United States in1980 It’s another indication the nation is headed towards catastrophe. https://t.co/VAsv37 QbVE
— John Hawkins (@johnhawkinsrwn) May 3, 2023
So exceptionally fed up with this administration’s silly program.
https://t.co/EnzS7anipq
— St. Clair Newbern IV (@scn4) May 2, 2023
I’m relatively positive Biden can’t discuss this. https://t.co/6PAYpCCMr7
— Jay Dilks (@DilksJay) May 2, 2023
This federal government simply desires more of your cash and they’ll get it any method they can.
The post Biden Now Wants to Put a 30 Percent ‘Climate Change Tax’ on Cryptocurrency Mining appeared initially on The Gateway Pundit
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