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Joined 6 months ago
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Cake day: December 21st, 2023

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  • Yes write off rules get complicated fast. People generally agree with the very simple example I’ve given but all you have to do is ask “What if you bought a drill while building the fence?” and you’re gonna trigger a whole host of opinions.

    But I think sometimes people only see the complicated examples and think “write offs are a scam got it” so I think it’s important to provide an example where most people would generally agree it’s not. It helps people realize there’s some nuance to the discussion.

    That being said: Tax the fucking rich already.




  • We’ve had this discussion a lot in the Bitcoin space. People keep arguing it has to change so that “grandma can understand it” but I think that’s unrealistic. Every technology has some inherent complexities that cannot be removed and people have to learn if they want to use it. And people will use it if the motivation is there. Wifi has some inherent complexities people have become comfortable with. People know how to look through lists of networks, find the right one, enter the passkey or go through the sign on page. Some non-technical people know enough about how Wifi should behave to know the internet connection might be out or the route might need a reboot. None of this knowledge was commonplace 20 years ago. It is now.

    The knowledge required to leverage the benefits of cryptographic signatures isn’t beyond the reach of most people. The general rules are pretty simple. The industry just has to decide to make the necessary investments to motivate people.


  • I’m seeing a lot of complicated explanations so I’m gonna go with a simpler one.

    Say you build a fence for somebody and they pay you $1000. You have to report that income to the IRS. Let’s say the tax rate is 40% so they say “Well you owe us $400.” But instead you provide them with receipts saying you bought $500 of supplies in the form of lumber, screws and such. You have “written off” your expenses and shown the IRS you really only made $500 so you only owe $200 in taxes.