American rapper Cardi B is well known for her outrageous social media rants. Usually, they’re discarded as millennial nonsense but this time around, Cardi might actually have a point. In a recent Instagram video, the artist rambled on about the U.S government and what they’re doing with Cardi’s taxes, of which she pays 40%. Other rappers like P Diddy started to chime in demanding answers. Could this be the push America needs to get everyone focused on crypto?
CARDI B ANTI-AMERICAN RANT; WILL SHE EMBRACE CRYPTO?
According to Cardi B, the government is taking 40% of her income. Rightfully so, she wants to know where it’s going (don’t we all?). The New York City native describes her city as dirty and rat infested. 40% of her enormous income should take care of that right? Apparently not. The U.S. right now is more focused on spending tax dollars on military defense and social safety net programs like Social Security. Her outrage sparked the interest of some high profile names like P Diddy. So will crypto start taking over?
WILL CARDI B GO ‘FULL CRYPTO’?
Sorry Cardi B, let’s just crush these dreams right now. Maybe a few years ago one could still have massive amounts of crypto under the radar but not in 2018. The U.S. government knows just how valuable this burgeoning technology is. As a result, the IRS is cracking down hard on it. Working side by side with big exchange Coinbase, the IRS now has taxpayer ID’s, names and crypto transaction records for any traders who made transactions of over $20,000 between 2013 and 2015. This is only the beginning too. Hence, we can expect much more of this behavior in the coming years.
CARDI B CAN STILL USE CRYPTO TO HER ADVANTAGE
The U.S. government is taking all of Cardi B’s money but this isn’t the end for musicians in America. They can still use crypto to their advantage. Blockchain-based crowdfunding platforms (e.g. YouToken) are giving new opportunities to musicians. It’s getting harder to make a living as an artist in today’s financial climate but with crypto, fans can invest in their fans in an easier and more productive way. The artist gets the money directly without having to sacrifice large chunks of money to record companies and Spotify. Sure, Uncle Sam will still get his cut but at least the artist’s get their freedom back.