Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Charlie Kirk Stands with Roger Ver in Exit Tax Case

Charlie Kirk Stands with Roger Ver in Exit Tax Case

CryptotimesCryptotimes2024/12/07 16:00
By:Dishita Malvania

Kirk expressed his support for Ver’s cause, calling on President-elect Trump to step in and end the case.

On December 6, 2024, political activist and podcast host Charlie Kirk took a stand alongside Roger Ver, a well-known Bitcoin pioneer, to discuss his ongoing legal battle with the U.S. government. Ver, often referred to as “Bitcoin Jesus” for his early and passionate support of Bitcoin, has found himself in a years-long fight over what many view as excessive government overreach.

Ver appeared on Kirk’s show alongside Drew Hernandez and Tracy Thurman, the campaign lead for FreeRogerNow.org , to explain the details of his case. Ver’s silent protest on the show —sitting with tape across his mouth reading “censored”—spoke volumes, as he chose not to speak out of concern that his words might be used against him in court.

The core of the government’s case against Roger Ver revolves around something called an “exit tax.” When someone renounces their U.S. citizenship and moves abroad, they are required to pay taxes on their assets as if they had sold everything the day before leaving the country. This is known as a “constructive hypothetical sale,” and the taxes can be enormous, especially for someone with significant assets like Ver.

Tracy Thurman, speaking on the show, explained that the U.S. government has accused Ver of underpaying these exit taxes—specifically in 2014 and again in 2017. The charge from 2017 is particularly puzzling because, by that time, Ver had already renounced his U.S. citizenship. Why would he owe U.S. taxes if he wasn’t even a U.S. citizen? That’s one of the key questions in this case.

Thurman also pointed out the absurdity of the tax system in Ver’s case. In 2014, when Ver was required to pay the exit tax, his Bitcoin holdings were worth a substantial amount—too much for him to realistically sell all at once without crashing the market. 

Thurman compared this to the idea of everyone in the U.S. trying to sell their homes on the same day. If that were to happen, the housing market would collapse. Similarly, if Ver had tried to sell all his Bitcoin at once, it would have been devastating to the market.

This case is not just about taxes—it’s about something larger. Kirk, who has been vocal about government overreach, emphasized how this case represents a broader trend of “lawfare,” where legal systems are weaponized to target and silence critics of the government. Kirk also pointed out that the U.S. President has the power to pardon Ver, and that the incoming Department of Justice could choose to drop the charges altogether.

Kirk expressed his support for Ver’s cause, calling on President-elect Trump to step in and end the case. “A pardon, lifting of charges, whatever it takes, time for a clean slate, and to free Roger,” Kirk said. He also noted that Trump, having experienced similar legal battles himself, understands the pain of being targeted by a legal system used as a political weapon.

Follow The Crypto Times on Google News to Stay Updated!
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Solana-based social graph protocol Tapestry raises $5.75 million in Series A funding

Tapestry raised $5.75 million in a Series A round co-led by Union Square Ventures and Fabric Ventures.Tapestry is a Solana-based social graph protocol designed to create an ecosystem of applications with social features.

The Block2025/01/16 19:00

The Daily: Trump 'receptive' to an 'America-first' crypto reserve, XRP hits new all-time high and more

President-elect Donald Trump is open to creating an “America-first” crypto reserve prioritizing U.S.-based coins like USDC, SOL and XRP, the New York Post reported, citing sources familiar with the matter.XRP hit a new all-time high of around $3.39 via major crypto exchanges on Thursday for the first time since January 2018, following a 16% surge in 24 hours and a 455% rise over the past quarter.A Litecoin ETF is the “most likely” next spot crypto ETF to be approved in the U.S., according to Bloomberg anal

The Block2025/01/16 19:00

BTC breaks through $99,000

Cointime2025/01/16 18:01