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If your employer receives revenue in US dollars, and you pay your expenses in US dollars, committing to pay in Swiss francs adds volatility from both their pers
by Eliezer 15y ago
If your employer receives revenue in US dollars, and you pay your expenses in US dollars, committing to pay in Swiss francs adds volatility from both their perspective and yours.
This is the essential bar to adoption of any new currency.
- burgerbrain 15y agoMy employer happens to receive revenue in numerous currencies. I do think that it should be up to the employer which currencies they want to offer payment in, but I really think that it should be something that is legal (is it not? I don't know) and to a certain degree expected.
- lsc 15y agoI'm pretty sure that it's legal for me to pay you in pesos, franks, shekels or whatever else you and i find mutually agreeable. Note, though, that this does not get me out of paying payroll taxes in dollars or you out of paying your income taxes in dollars; I've still gotta figure your payroll taxes based on the value of whatever I'm giving you in dollars, and then pay that to the government in dollars. This does make doing so rather a lot more complex; I mean, do you pay taxes based on the value of the foreign coin in dollars when you are paid? at the end of the year? etc, etc. It'd get complicated pretty fast, so it's usually easiest for a business to operate in a main currency, and if the employee wants franks or what have you, the employee can go buy them after they get paid in whatever the standard currency is.