Interesting story on how Income tax became a thing, that helped me become a Bitcoiner almost a decade ago. This is not a message about not paying your taxes, it's just a historical event on the dollars developed mechanisms that lead me to saving in Bitcoin instead of the dollar.

It used to be illegal and was only approved under the guise that it would be used to tax the rich, it ultimately ended up giving rich people loop holes to avoid their income taxes, since they earned their money through asset appreciation on assets that they never sell, assets they instead use to get loans against, aka non-income revenue, since a loan is not income, and asset appreciation that is not realized(sold), is not income.

So instead it ended up as a way to tax the poor since their income is through actual income, taking away their small wages that already keep them living paycheck to paycheck and on credit in an increasingly unaffordable world.

Worst of all, it is a tax on their wages that stacks on top of their already existent invisible inflation tax, an inflation tax that robs working class people of their purchasing power anytime dollars are digitally minted and physically printed, digitally minted and physically printed dollars that at the same time raises the value of the assets of the wealthy, since that is where they store a majority of their wealth.

A majority of those dollars that are minted and printed every time someone takes out a large loan, giving the loaned person access to that newly minted and printed money first, that at the same time dilutes the dollars that working class people earn through their income.

And the largest receivers of these loaned dollars? Well that's the richest 1% that earns their income through asset appreciation on assets they never sell in order to never realize it as taxable income, assets they get loans on to get 99% of the new printed money that create the inflation that robs the working class of their income's purchasing power, at rates that do not keep up with their raises, creating a larger working class as time passes by and a richer elite class of asset holders.

How are the rich able to get a majority of the loans/access to newly printed dollars? Well that's because the assets they hold and get loans against are valued at 99% of the world's wealth, while the working classes income and assets if any, are valued at 1% of the worlds wealth. And with the bank loaning system working on collateral, it allows the rich to get access to the newly printed and minted money first so they can hoard it away in more assets, while at the same time paying the working class 1% of that loaned/newly printed and minted money, further increasing the wealth gap divid.

This is the system that's been pulled over our eyes to keep a healthy working class of citizens, according to what the trickle downers at the of the economic pyramid believe they need to keep a working society that lets them live like kings and queen, while the rest live like their livestock of desperate employees, willing to do whatever work they can pay them unlivable wages to do, insuring they will always need to do whatever job they need them to do without ever being able to get out of the indebted worker wage cycle.

Anyway, this is why I eventually started saving in Bitcoin, because like the rich's assets, unsold Bitcoin is not income tax, and loans against it are also not income taxable should there be a safe way to get loans against it, like Microstrategy has been able to do. Allowing me to grow value in a mathematical equation designed to work with the dollars infinite digital minting and physical printing, while preventing Uncle Sam to tax away my Bitcoin saving's appreciated value as long as I don't sell it into realized gains.