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

**bumxumer** · 02-09-2012, 07:24 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?

Very impractical, if one was forced to participate. However, it is optional, and while I'm sure that 99% of employees would choose to get all of their paycheck in fiat FRN, if I was one of them I'd choose 20% silver just for saving and keep the 80% FRN for living.

02-09-2012, 07:24 PM	#6
bumxumer Join Date Nov 2005 Posts 510 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? Very impractical, if one was forced to participate. However, it is optional, and while I'm sure that 99% of employees would choose to get all of their paycheck in fiat FRN, if I was one of them I'd choose 20% silver just for saving and keep the 80% FRN for living.
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