David Sacks slams 0.01% crypto tax proposal – ‘This is how it starts!’ – BitRss

• David Sacks rejected the idea of a 0.01% crypto transaction tax, citing concerns over tax expansion and bureaucratic overreach.
• The Trump administration has floated the idea of eliminating the IRS entirely, shifting to tariff-based taxation to fund the government.

David Sacks, the White House’s crypto and AI czar, dismissed the idea of a 0.01% tax on cryptocurrency transactions during a discussion on the “All-In Podcast.”

The proposal, introduced by tech investor Jason Calacanis, was to generate government reserves in Bitcoin [BTC ($82,355.98)] and other digital assets.

The idea, introduced by tech investor and podcast host, was swiftly met with skepticism and concern.

The discussion sparked a broader debate about government taxation. Sacks argued that even small tax policies tend to expand over time, eventually impacting more individuals than originally intended.

“That’s always how taxes start”

His remarks echoed historical precedents. Sacks compared the idea to the early days of U.S. income tax.

When first introduced in 1913,…