Bitcoin bull and crypto figurehead John McAfee recently posted a series of angry tweets directed at the IRS and the system of taxation in general. He claimed that "privacy coins will obsolete income taxes", amongst other things.
With 2017 and 2018 being big years for ageing celebrity businessmen/political figures posting on Twitter, 2019 is shaping up to be no different. John McAfee recently went on his first major rant of the year, ahead of his presidential campaign that is due to start this month.
My Crypto goals drive the IRS mad. Privacy coins will obsolete income taxes. Can't tax money you cant see, and I promote this as a good thing. The SEC is legally failing in their power grab so It's up to the IRS now to silence me. I've called them out. They will come. You'll see.— John McAfee (@officialmcafee) January 4, 2019
McAfee, who will be running for President as a Libertarian candidate with a strong pro-crypto platform, claimed that "I haven't filed a tax return in 8 years" as part of an attack on the idea of taxation. This came up as a continuation of his long-standing beef with the SEC, which he believes is now passing on some of the responsibility for taking down crypto to the IRS.
I have not filed a tax return for 8 years. Why? 1: taxation is illegal. 2: I paid tens of millions already and received Jack Shit in services. 3. I'm done making money. I live off of cash from McAfee Inc. My net income is negative. But i am a prime target for the IRS. Here I am.— John McAfee (@officialmcafee) January 3, 2019
The potential for cryptocurrencies to be used in tax evasion is one of the key reasons that legislators are often so suspicious of them. For McAfee, however, this is a major advantage of crypto. Like many high-earners, he believes that he's fully entitled to all of his wealth, which he attained entirely on his own without the help of anyone else.
No one will fuck with the enormous power of the IRS. It emerged as an SS like intimidation arm of the government during prohibition - when drinking alcohol was a crime. Unable to buy legitimatte alcohol the publuc relied on family stills. From destrying stills, it now destroys us— John McAfee (@officialmcafee) January 3, 2019
He traced the IRS' wrongdoings back to the 19th century, claiming that "we managed" before the civil war, when there was no income tax. It's unclear if this "we" includes the huge number of American citizens living in abject poverty, and those who were legally owned by other people...
I'm done trashing the SEC. Let's move on to the IRS - the agency that takes from you an average of three months of your labor each year. First - taxation is theft. It is unconstitutional. Prior to the civil war there was no income tax, yet we managed. Stay tuned for the truth.— John McAfee (@officialmcafee) January 3, 2019
Regardless of what you think of his views, the McAfee 2020 campaign will certainly be great for entertainment value, although his promise about what he would do if BTC wasn't worth $1 million by 2020 may now have been walked back slightly.