New US tax bill, No crypto outlet - 26 Dec 2017 - retail investors
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New US tax bill, No crypto outlet - 26 Dec 2017

2017-12-26 14:17:47

US tax bill against cryptocurrency trading

The reform US tax bill signed out last week by president Trump was amongst the most questionable laws this year, regarding the bad news carried out to the investors as well as all the US citizens, as the authorities began to shut the only tax way out from which the investors used to make advantage on their profits.

According to this bill, the tax on income of all families and big companies will reduce from 15% to about 25%, thus half the American families will not pay any tax from no on!

This is just one side of the coin, the more important controversy is about the deficit US would face during the coming 10 years. According to the opponents, mostly democrat senates, of this tax bill, the US economy would encounter a huge amount of budget deficit from 2.6 to 3.9 trillion dollars during the upcoming decade.

At the other hand, the economic experts and counselors of president Trump assured that this likely deficit would be compensated first by the profit opportunities of big companies in the country, and mostly by closing any tax loophole against big companies as well as against retail investors in all financial markets, even in cryptocurrency trading.

Accordingly, from now on, crypto investors will be taxed for every trade they made, what would have a dramatic impact over investors.

 

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