DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - andover voting to pay employees in silver coins

**angelxmagic** · 02-09-2012, 06:23 PM

"An employee making $1,000 a week, for instance, may choose to receive half of those wages in silver coins: The town would pay $500 in paper dollars and $500 based on the exchange rate of the silver coins, Shapiro said. Based on the January exchange rate, $500 would be the equivalent of roughly 14 silver coins. So the employee would receive $514 ($500 in paper dollars and $14 in silver coins) in wages, instead of $1,000, thereby falling to a lower tax bracket and paying less in taxes, Shapiro said."

The price spread for buying (by the town) and redemption (by the employee) makes this totally impractical, right?

02-09-2012, 06:23 PM	#3
angelxmagic Join Date Oct 2005 Posts 402 Senior Member	"An employee making $1,000 a week, for instance, may choose to receive half of those wages in silver coins: The town would pay $500 in paper dollars and $500 based on the exchange rate of the silver coins, Shapiro said. Based on the January exchange rate, $500 would be the equivalent of roughly 14 silver coins. So the employee would receive $514 ($500 in paper dollars and $14 in silver coins) in wages, instead of $1,000, thereby falling to a lower tax bracket and paying less in taxes, Shapiro said." The price spread for buying (by the town) and redemption (by the employee) makes this totally impractical, right?
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