[SERIOUS] Why the proposed 30% electricity tax for crypto mining is completely backwards and harmful for the US

I’m sure you’ve heard about the latest budget proposal by President Biden that aims to impose a 30% tax on electricity costs for US crypto miners. This is a terrible idea that will not only hurt the crypto industry but also the US economy and innovation. Imo this tax is unfair and discriminatory. Why should crypto miners pay more for electricity than other industries that use a lot of power? This tax would create an uneven playing field and discourage investment and innovation in crypto mining. It would also make US miners less competitive globally, as other countries have lower or no taxes on electricity for mining.

Not only that but this tax is ineffective and counterproductive. The stated goal of this tax is to reduce mining activity and its environmental impact. However, this tax would not achieve that goal. Instead, it would drive miners to use more renewable energy sources or move their operations offshore. This would reduce the tax revenue for the US government and increase its dependence on foreign energy sources. Also I find this tax is shortsighted and ignorant. Crypto mining is not just a waste of electricity. It is a vital process that secures the network, validates transactions, and creates new coins. Crypto mining also supports innovation and development in blockchain technology, which has many potential applications beyond finance. Crypto mining is a key driver of economic growth, job creation, and social impact in the US.

I am worried that with laws like this security of networks and in a way global assets like BTC will move to other countries who can then control the network, effectively harming the decentralised aspect of it.

TL;DR: The proposed 30% electricity tax for crypto mining is unfair, ineffective, counterproductive, shortsighted, and ignorant. It will hurt the US crypto industry and economy. We should oppose it and support crypto mining instead.

What is your opinion?