Tax rates themselves are not the core issue. Historically, some countries with tax burdens approaching extreme levels still fell into economic recessions. The real problem lies on the expenditure side—every dollar spent by the government that does not generate corresponding economic returns is essentially wasted. When such inefficient spending accumulates to a certain scale, the foundation of the entire economic system begins to weaken. In contrast, in the crypto market, capital flows are often more direct—toward projects and protocols that can generate real value. This logic also applies to macroeconomic discussions. Spending efficiency determines economic resilience, not the tax rate itself.