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RE: Giveaway for dCity cards - I will draw 3 random winners!

in LeoFinance3 years ago

@loro68 I think you don't fully understand how the tax system works. The income tax which is currently 67% is not something that the president has control over.

It clearly states:
Income tax - based on SIM price
This one is based on the average SIM token price over the last 3 days, when the price goes down, this tax should go up and decrease inflation and vice versa when the token price going up.

So even if the president add 0% tax, the minimal tax we have to pay is 67% at the moment.

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So everything has been broken by @dreamm which started to play with crazy taxes and all people run away and sim loosed over 300%, now it is too late...

Posted Using LeoFinance Beta

SIM didn't loose over 300%. SIM is actually up since @dreamm's very first term (from under $0.0006 to around $0.001).

What is down is HIVE/SIM, which is logical, since $HIVE went up.

I like to poke fun at Dreamm and the taxes were insane, but the president in this case has limited influence on the income tax.

Posted Using LeoFinance Beta

The high taxes came before he was president because people had a lot of SIM and wanted to sell off to invest in other things as well. Had been no announcements for 3rd edition and people were waiting.

Now that 3rd edition is within 2 weeks away now, we are closing in on people buying up a lot more SIM so they are ready for release. Hoping to see a much higher price again and the income tax will start coming down again and we all get more daily SIM.