bitcoinekasi on Nostr: Bitcoin will be used in South Africa, en masse, by ordinary people to opt out of ...

Bitcoin will be used in South Africa, en masse, by ordinary people to opt out of paying taxes. Those people who cannot afford to emigrate, but who still earn enough to be a milking cow for the state. This will happen here, before it happens in most other countries. Because South Africa has a tiny tax base paying astronomically high taxes to fund a large welfare state. Less than 10% of the population pay more than 90% of all income tax while approximately 50% of the population receive some form of social income grant. And the government here collects more from income tax than any other form of tax. Yet those people who pay up, receive almost nothing in return. Public infrastructure is basically non-existent or dysfunctional. People have been asking themselves for years, what exactly am I paying for? And everyone, even the most law abiding of them all, have a breaking point. Government debt is already higher than it's ever been before. And the tax base is shrinking faster than ever before. High income earners are leaving. It's only a matter of time until the government resorts to taking more from tax payers and resorts to more extreme forms of asset confiscation. Expropriation without compensation is already a thing. And it's only a matter of time until ordinary people decide to opt out of a completely broken system. KYC free Bitcoin being an obvious candidate. FYI, I have never, and will never, reccomend anyone to evade paying the tax they legally owe. And always consult a professional before doing anything.