True. Take it further: given that tolerance for float (before default) varies from country to country, and wages, and taxes on wages, are the majority of float, I’ve wondered why we pay taxes first, or why, in the extreme, the central banks don’t carry the float. The state (especially UK) is far more concerned about a biz exporting a visible quantifiable loss to the state, than it is about the externalization of an invisible unquantifiable chain of causality into the economy the state taxes? That only sounds a bit odd if you don’t do the math. And the data the state would get from that float movement would provide the best and fastest information on the economy without externalizing the cost of reporting onto every biz in the system.
Source date (UTC): 2023-03-12 15:42:35 UTC
Original post: https://twitter.com/i/web/status/1634942973010911233
Replying to: https://twitter.com/i/web/status/1634613421306966022
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