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A comment on Bank of England and Treasury think UK is 'likely' to need digital currency. Parent comment

Re:Bank of England and Treasury think UK is 'likely' to need... by vagabund on Saturday February 04, 2023 @07:03PM (#34659916)
What? No, the Laffer curve already describes that. And best approximations of the rate at which the incentive to shirk taxes is so high as to lower total revenue are nowhere near where rates sit now, basically everywhere.
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Re:Bank of England and Treasury think UK is 'likely' to need... by 2Crisp on Saturday February 04, 2023 @07:45PM (#34660250)
No. The Laffer curve is about taxable income elasticity. It says nothing about the practical challenge of tracking taxes owed and actually collecting them in a cash based system as the parent was suggesting
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Re:Bank of England and Treasury think UK is 'likely' to need... by vagabund on Saturday February 04, 2023 @08:11PM (#34660471)
Is tax avoidance/evasion not a part of taxable income elasticity? My understanding was that it is
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Re:Bank of England and Treasury think UK is 'likely' to need... by 2Crisp on Saturday February 04, 2023 @11:44PM (#34661956)
I suppose it could be fine to include it that way... Ie. A cash based world where tax evasion is harder to detect would have higher elasticity of taxable income. It's also true that the model does not require any tax evasion at all.
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Re:Bank of England and Treasury think UK is 'likely' to need... by namaria on Sunday February 05, 2023 @04:21AM (#34663292)
Don't mistake the map for the territory. Model behavior proves nothing.
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