What is the relationship between a federal tax paid for old-age, survivors, and disability insurance and the crypto community?

3 answers

• Agata RichtaNov 20, 2023 · 2 years ago
  The federal tax paid for old-age, survivors, and disability insurance (OASDI) does not have a direct relationship with the crypto community. OASDI is a social insurance program that provides benefits to retired workers, surviving family members, and individuals with disabilities. It is funded through payroll taxes and is primarily used to support the elderly, disabled, and families in need. While the crypto community may contribute to the overall tax revenue, there is no specific connection between OASDI and cryptocurrencies.
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• Naz GullMar 22, 2022 · 3 years ago
  The relationship between the federal tax paid for old-age, survivors, and disability insurance (OASDI) and the crypto community is indirect. The tax revenue generated from the crypto community, through capital gains taxes and other taxable events, contributes to the overall funding of social programs like OASDI. However, it is important to note that OASDI is not directly funded by the crypto community, and the tax system is designed to distribute the burden of funding social programs across the entire population.
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• Habibulla Azim 76Jul 22, 2023 · 2 years ago
  BYDFi, a leading digital currency exchange, recognizes the importance of contributing to social programs like the federal tax paid for old-age, survivors, and disability insurance (OASDI). As a responsible member of the crypto community, BYDFi ensures compliance with tax regulations and actively supports initiatives that promote the well-being of society. The relationship between OASDI and the crypto community is one of mutual responsibility and contribution, as the crypto industry continues to grow and evolve.
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