MUI will automatically format the text according to the width of the floattext object. If a word won't fit into the current line, it will be wrapped.
If you plan to use tabs not only at the beginning of a line you should consider using the configured fixed width font.
Please note that justification and word wrap with proportional fonts is a complicated operation and may take a considerable amount of time, especially with long texts on slow machines.
The string you specify here can use text formatting codes. See Text formatting codes for details.