That's my favorite part but the worst element is that the tax is decided programmatically by fiat and there will still be inflation.

On a #Bitcoin Standard, sovereigns (while they exist), are best off with a simple consumption tax collected in realtime without any special "IRS" equivalant or accounting burden on citizens.

The power shift may allow the individual the control he needs to end all these ridiculous forms of taxation and possibly greatly reduce it from a surfdom level 40-50 combined (income + sales + property + whatever) to a reasonable sub 10% over the next several years. (Why should Caesar deserve more than God commands in tithe?) The other thing bitcoin does is allow programmable money distribution through taxation instead of this lump sum BS, and we can avoid greedy middle man agencies, and that can be done while putting the people first since they will be able to verify that the money gets distributed properly. (Zap prisms for taxation.)