{"id":38118,"date":"2025-03-09T17:00:34","date_gmt":"2025-03-09T14:00:34","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=38118"},"modified":"2025-03-09T14:30:56","modified_gmt":"2025-03-09T11:30:56","slug":"what-does-david-sacks-say-about-the-idea-of-a-crypto-transaction-tax","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-does-david-sacks-say-about-the-idea-of-a-crypto-transaction-tax\/","title":{"rendered":"What Does David Sacks Say About the Idea of \u200b\u200ba Crypto Transaction Tax?"},"content":{"rendered":"<p data-start=\"164\" data-end=\"384\"><strong data-start=\"164\" data-end=\"179\">David Sacks<\/strong>, the White House <strong data-start=\"197\" data-end=\"207\">crypto<\/strong> and <strong data-start=\"212\" data-end=\"223\">AI czar<\/strong>, has opposed a proposed tax on <strong data-start=\"255\" data-end=\"273\">cryptocurrency<\/strong> transactions, arguing it could become a burden for investors and slow down innovation in the <strong data-start=\"367\" data-end=\"377\">crypto<\/strong> space.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/what-does-david-sacks-say-about-the-idea-of-a-crypto-transaction-tax\/#Sacks_Rejects_001_Transaction_Tax_on_Crypto\" title=\"Sacks Rejects 0.01% Transaction Tax on Crypto!\">Sacks Rejects 0.01% Transaction Tax on Crypto!<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/what-does-david-sacks-say-about-the-idea-of-a-crypto-transaction-tax\/#Trump_Proposes_Eliminating_Income_Tax_and_IRS\" title=\"Trump Proposes Eliminating Income Tax and IRS!\">Trump Proposes Eliminating Income Tax and IRS!<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"386\" data-end=\"439\"><span class=\"ez-toc-section\" id=\"Sacks_Rejects_001_Transaction_Tax_on_Crypto\"><\/span>Sacks Rejects 0.01% Transaction Tax on Crypto!<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"440\" data-end=\"676\">In a recent episode of the <strong data-start=\"467\" data-end=\"485\">All-In Podcast<\/strong>, host <strong data-start=\"492\" data-end=\"511\">Jason Calacanis<\/strong> suggested a 0.01% tax on every <strong data-start=\"543\" data-end=\"553\">crypto<\/strong> transaction. The tax would apply whether a user is buying, selling, or transferring <strong data-start=\"638\" data-end=\"656\">cryptocurrency<\/strong>. Sacks responded:<\/p>\n<p data-start=\"440\" data-end=\"676\"><em><span style=\"font-size: 14.4px;\">\u201cThat\u2019s always how taxes start. They are described as being very modest. You know, when the income tax started, it only applied to like a thousand Americans, and the legislators swore up and down that it would never be applied to middle-class people.\u201d<\/span><\/em><\/p>\n<p data-start=\"679\" data-end=\"1095\">He continued:<\/p>\n<p data-start=\"679\" data-end=\"1095\"><em>\u201cI don\u2019t particularly like the idea of new taxes, even if it is promised that they won\u2019t affect people very much. That sounds burdensome to me.\u201d<\/em><\/p>\n<hr \/>\n<p data-start=\"1138\" data-end=\"1287\"><strong><em>You Might Be Interested In: <a href=\"https:\/\/coinengineer.net\/blog\/elon-musk-talks-about-the-name-of-a-new-memecoin\/\">Elon Musk Talks About the Name of a New Memecoin!<\/a><\/em><\/strong><\/p>\n<hr \/>\n<p data-start=\"1138\" data-end=\"1287\">Many <strong data-start=\"1143\" data-end=\"1153\">crypto<\/strong> investors criticized the idea, warning it would create unnecessary costs even for transfers between wallets owned by the same person.<\/p>\n<p data-start=\"1341\" data-end=\"1526\">The recent <strong data-start=\"1352\" data-end=\"1381\">White House Crypto Summit<\/strong> did not present any official tax policies. However, the <strong data-start=\"1438\" data-end=\"1447\">Trump<\/strong> administration has signaled support for major tax reform in the United States.<\/p>\n<p data-start=\"1341\" data-end=\"1526\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-03\/0195773b-1303-731e-88d4-a7818773693a\" alt=\"David Sacks\" width=\"1000\" height=\"642\" \/><\/p>\n<h2 data-start=\"1528\" data-end=\"1581\"><span class=\"ez-toc-section\" id=\"Trump_Proposes_Eliminating_Income_Tax_and_IRS\"><\/span>Trump Proposes Eliminating Income Tax and IRS!<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1582\" data-end=\"1988\">President <strong data-start=\"1592\" data-end=\"1608\">Donald Trump<\/strong> has proposed eliminating the federal income tax and replacing it with tariffs on imported goods. <strong data-start=\"1706\" data-end=\"1743\">Commerce Secretary Howard Lutnick<\/strong> added that the <strong data-start=\"1759\" data-end=\"1766\">IRS<\/strong> would be replaced by an \u201cExternal Revenue Service.\u201d<\/p>\n<p data-start=\"1582\" data-end=\"1988\">According to <strong data-start=\"1834\" data-end=\"1853\">Dancing Numbers<\/strong>, the plan could save each American taxpayer at least $134,809, and possibly up to $325,561 if state income taxes are repealed as well.<\/p>\n<hr \/>\n<p data-start=\"1582\" data-end=\"1988\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Sacks, the White House crypto and AI czar, has opposed a proposed tax on cryptocurrency transactions, arguing it could become a burden for investors and slow down innovation in the crypto space. Sacks Rejects 0.01% Transaction Tax on Crypto! In a recent episode of the All-In Podcast, host Jason Calacanis suggested a 0.01% tax<\/p>\n","protected":false},"author":28,"featured_media":36104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[12569,9649,12570,2622,12453,58,9885,1730,8436,6652,12568,1151,11536,9437,4632,12531],"class_list":["post-38118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-ai-czar","tag-bitcoin-reserve","tag-crypto-stockpile","tag-crypto-tax","tag-crypto-transaction","tag-cryptocurrency","tag-david-sacks","tag-donald-trump","tag-howard-lutnick","tag-irs","tag-jason-calacanis","tag-stablecoins","tag-tax-reform","tag-trump-administration","tag-us-government","tag-white-house-crypto-summit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Does David Sacks Say About the Idea of \u200b\u200ba Crypto Transaction Tax? - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/what-does-david-sacks-say-about-the-idea-of-a-crypto-transaction-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Does David Sacks Say About the Idea of \u200b\u200ba Crypto Transaction Tax? - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"David Sacks, the White House crypto and AI czar, has opposed a proposed tax on cryptocurrency transactions, arguing it could become a burden for investors and slow down innovation in the crypto space. 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