"Maybe not completely non taxable. But I bet with great deductions which makes it more profitable than before. Apparently."
About the only thing in their favor is "no tax on tips", but that a) doesn't apply to the owners, b) doesn't exempt anyone from payroll taxes, and c) doesn't apply on the state level.
The only reason the business is "currently more profitable" is they're not paying the required taxes. Frankly, they're getting horrible tax advice, and it's just going to cost them more in the long run.
That said, they're right: businesses would be more profitable if they didn't have to pay taxes. Duh.
"So crypto is supposed to be a completely unregulated alternative to federal banks, but he wants his crypto to be treated like a federal bank, but not regulated like a federal bank."
Yep.
With investment "money" based on the Bigger Fool theory.
What could possibly go wrong???