While eyeing the threat of a regulatory \u201cbreakdown\u201d on cryptocurrencies, American investors recently experienced just how far the Biden administration is willing to go.<\/p>\n
The president of the United States brought forth a new proposal<\/a> that aims to impose an additional wealth tax on individuals earning $1 million or more per year. While not solely aimed at crypto investors, this is one of the many adjustments that the administration is looking to impose in order to counteract the increased inflation rates, fund education, and improve child care.<\/p>\n The announcement of the new bill proposal caused a massive selloff in both the stock market and the crypto markets, with many fearing the start of another bear cycle. But is this really the case? Why would anyone sell their crypto at this point, only to cause a taxable event? We attempt to answer this, and many more questions, in the following chapters.<\/p>\n While the powers in control like to shrug off the increased inflation rates as \u201cnormal\u201d, claiming there is nothing to worry about, we have already seen a massive increase in commodity prices:<\/p>\n Commodity prices over last year… \u2014 Charlie Bilello (@charliebilello) April 20, 2021<\/a><\/p><\/blockquote>\nThe US economy has been in a steady decline<\/h2>\n
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\nLumber: +265%
\nWTI Crude: +210%
\nGasoline: +182%
\nBrent Crude +163%
\nHeating Oil: +107%
\nCorn: +84%
\nCopper: +83%
\nSoybeans: +72%
\nSilver: +65%
\nSugar: +59%
\nCotton: +54%
\nPlatinum: +52%
\nNatural Gas: +43%
\nPalladium: +32%
\nWheat: +19%
\nCoffee: +13%
\nGold: +3%<\/p>\n