Police had believed that the recruitment message was the work of a hoaxer. Times, Sunday Times (2013) But it is now thought hoaxers photographed a toy in a field and posted the picture online. The Sun (2014) Anyone expecting the story of a compulsive hoaxer to be funny will quickly realise their mistake. Times, Sunday Times (2010)
Fiscal reform under way in the United States will have an impact on the Mexican economy, above all because Mexico has little room to adjust its own tax rates, the head of a United Nations economic commission said yesterday.
The rationale is deep and generalin anin-. tertemporal economy, capital is an intermediate product, and it is unde-. sirable to tax intermediate products at all. A tax reform that replaces an income tax with a consumption tax has a. key intertemporal effect. Under an income tax at rate r, the relative price. of consumption this year is distorted by the factor (1 - i-)relative to. consumption i years from now. The cheapening of current consumption. relative to future consumption caused by an income tax is the source of. its disincentive for saving.