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(Rock 103)   It costs 2 and a half cents to make a penny. But we'll keep making them anyways, because without it, states would have to alter retail sales tax rates   (rock103.com) divider line 407
    More: Fail, Merrifield, government spending, half cent, UTSA  
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6095 clicks; posted to Main » on 18 Feb 2013 at 11:45 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-18 10:56:14 AM
Or we can just round everything to the nearest 5 cents.  I'd actually prefer to the nearest 10 cents so we could get rid of nickels too, but then we'd still have quarters.
 
2013-02-18 11:03:48 AM
Sales tax here is 6.6%. Somehow they are able to manage 6/10 of a penny when they do the bookkeeping.

Must be magic.
 
ZAZ [TotalFark]
2013-02-18 11:03:50 AM
One burger place where I was a regular rounded my total to the nearest five cents. You can imagine the class action lawsuits if that practice became popular.

Secondly, there is a concern that loss of the penny would contribute to inflation, as retailers are far more likely to round prices up than round them down.

Make it a law: death penalty for any retailer who rounds down instead of up under the new nickel denomination regime. We'd still be better off than under the current system.
 
2013-02-18 11:07:35 AM

Demetrius: Or we can just round everything to the nearest 5 cents.  I'd actually prefer to the nearest 10 cents so we could get rid of nickels too, but then we'd still have quarters.


Why not round everything to the nearest dollar and eliminate coins entirely?
 
2013-02-18 11:11:07 AM
On overseas military bases, they have no pennies, cause they're expensive to ship. They round to the nearest 5 cents. 3 cents it goes up, 2 cents, it goes down.
 
2013-02-18 11:19:02 AM
All I know is, I rolled the coins in my change jar this weekend by hand, and I had $12 in pennies. Worthless waste of time to roll that many into 50 cent bundles.
 
2013-02-18 11:20:57 AM

edmo: Must be magic.


witchcraft. the darkest kind.


Why do we not make the common sense maneuvers when it comes to our currency? Stop printing the 1, 2 and 5 and stop making the damn penny. Is there some special interest group that is lobbing against this?!
 
2013-02-18 11:23:55 AM

The Stealth Hippopotamus: edmo: Must be magic.

witchcraft. the darkest kind.


Why do we not make the common sense maneuvers when it comes to our currency? Stop printing the 1, 2 and 5 and stop making the damn penny. Is there some special interest group that is lobbing against this?!


Zinc lobbyists.
 
2013-02-18 11:29:29 AM

edmo: Sales tax here is 6.6%. Somehow they are able to manage 6/10 of a penny when they do the bookkeeping.

Must be magic.


movieactors.com
 
ZAZ [TotalFark]
2013-02-18 11:29:47 AM
Is there some special interest group that is lobbing against this?!

For many years Massachusetts had a very influential Congressional delegation. A paper mill in the Berkshires makes paper for the dollar bill (and other denominations).
 
2013-02-18 11:34:31 AM

ZAZ: One burger place where I was a regular rounded my total to the nearest five cents. You can imagine the class action lawsuits if that practice became popular.

Secondly, there is a concern that loss of the penny would contribute to inflation, as retailers are far more likely to round prices up than round them down.

Make it a law: death penalty for any retailer who rounds down instead of up under the new nickel denomination regime. We'd still be better off than under the current system.


Death penalty? Your kids must fear you. I fear you.
 
2013-02-18 11:46:41 AM
All this nonsense will do is delay the inevitable for a couple of years.
 
2013-02-18 11:47:24 AM

Demetrius: Or we can just round everything to the nearest 5 cents.  I'd actually prefer to the nearest 10 cents so we could get rid of nickels too, but then we'd still have quarters.


New coins -- 10 cent, 20 cent, 50 cent, dollar, 2 dollar
Bills could go 5, 10, 20, 50, 100, 200, 500

Side, related note, how about ATMs spitting out bigger bills than a 20?  If you take out a couple hundred for groceries, that ends up being a good size wad of cash.
 
2013-02-18 11:48:14 AM

edmo: Sales tax here is 6.6%. Somehow they are able to manage 6/10 of a penny when they do the bookkeeping.

Must be magic.


done in two

They can calculate it however they want, and we will pay it the same way we always have, with a payment made as close as possible using the currency denominations available.

/I throw out my pennies, always have.
//I am not alone in this
///Sends a weak but persistent message
 
2013-02-18 11:48:46 AM

ZAZ: Is there some special interest group that is lobbing against this?!

For many years Massachusetts had a very influential Congressional delegation. A paper mill in the Berkshires makes paper for the dollar bill (and other denominations).


The dollar bill I like. Coins just take up room in a wallet and spill out of your pocket when you sit in your car.

Get rid of the penny, or somehow make it worth a positive amount. Either way, ol' Honest Abe needs to be bumped up to a bigger denomination.
 
2013-02-18 11:49:00 AM

Earpj: They round to the nearest 5 cents. 3 cents it goes up, 2 cents, it goes down.


This would make sense. However, most people fear sense.
 
2013-02-18 11:49:18 AM
because without it, states would have to alter retail sales tax rates

No they don't.

There is absolutely no reason to keep making the penny. Not one.
 
2013-02-18 11:49:42 AM

The Stealth Hippopotamus: edmo: Must be magic.

witchcraft. the darkest kind.


Why do we not make the common sense maneuvers when it comes to our currency? Stop printing the 1, 2 and 5 and stop making the damn penny. Is there some special interest group that is lobbing against this?!


Because dollar coins are horrible and who wants to get rid of 5s?  Plus, I love my 2 dollar bills.  Makes those taco bell people shiat bricks.
 
2013-02-18 11:51:36 AM
I have altered retail sales tax rates.  Pray that they don't alter them further.
 
2013-02-18 11:51:37 AM

The Stealth Hippopotamus: edmo: Must be magic.

witchcraft. the darkest kind.

Why do we not make the common sense maneuvers when it comes to our currency? Stop printing the 1, 2 and 5 and stop making the damn penny. Is there some special interest group that is lobbing against this?!



Why would they stop printing the one and five?

The penny I understand, but let's not get crazy here!

I like to pay for stuff with cash.
 
2013-02-18 11:51:41 AM
Meanwhile, here in Canada we kicked the penny to the curb earlier this year. And no one give a fark. There's signs at places like Tim Hortons extolling the new "we're rounding out the purchase to the neartest cent" but in all honesty. Who the fark carries pennies in their pockets? I hardly ever carry cash anymore since 99% of places are on the Interac system.
 
2013-02-18 11:51:46 AM
Actually, sales tax is calculated using tax tables, not percentages.  Any purchase over $5 and it's probably a wash on sales tax.

The big hassle would be reprogramming all of the point of sale systems to round to the nearest nickel or dime so the drawer balances at the end of the day.
 
2013-02-18 11:52:33 AM

lewismarktwo: The Stealth Hippopotamus: edmo: Must be magic.

witchcraft. the darkest kind.


Why do we not make the common sense maneuvers when it comes to our currency? Stop printing the 1, 2 and 5 and stop making the damn penny. Is there some special interest group that is lobbing against this?!

Because dollar coins are horrible and who wants to get rid of 5s?  Plus, I love my 2 dollar bills.  Makes those taco bell people shiat bricks.


You know, of all of the people that would not know about the two dollar bill, Taco Bell employees shock me the most. Everyone knows that Taco Bell is food for stoners, by stoners. Stoners love citing that Thomas Jefferson (and the Founding Fathers in general) grew hemp, so you'd think that him being on the two dollar bill would make it known to them that it's a valid denomination of currency.
 
2013-02-18 11:52:55 AM
When I clean my wallet of change, the pennies go straight in the trash can. I refuse to mess with them beyond that.
 
2013-02-18 11:53:55 AM
The sooner the tyrant Lincoln is out of my pocket change, the better.
 
2013-02-18 11:54:09 AM
Ha!
Here in Canada we just got rid of the penny for cash transactions.
Loss/Gain = ROUND(1/ ( mod( x,5 ) -2.5), 0 )
 
2013-02-18 11:54:13 AM
The penny needs to die and so does the paper one-dollar bill (a coin would be great).
 
2013-02-18 11:54:14 AM

indarwinsshadow: Meanwhile, here in Canada we kicked the penny to the curb earlier this year. And no one give a fark. There's signs at places like Tim Hortons extolling the new "we're rounding out the purchase to the neartest cent" but in all honesty. Who the fark carries pennies in their pockets? I hardly ever carry cash anymore since 99% of places are on the Interac system.


Hell, last time I was in Mexico, they didn't regularly use coins smaller than 1 peso, although I did see a few 50 centavo coins.  1 peso is like 8 cents US, so that would be close to rounding to the nearest dime.
 
2013-02-18 11:54:47 AM
i171.photobucket.com

Have a nickel, leave a nickel, need a nickel, take a nickel
 
2013-02-18 11:55:08 AM
believe or not
there are many people who have no idea of how much inflation has occured over time
and would be shocked that such a action was really needed
   (and would presume ((ahem)) very black motives for doing it)
 
2013-02-18 11:55:16 AM
You want pennies to be worth more than the cost of making them?  Stop making them.
 
2013-02-18 11:55:34 AM

naughtyrev: All I know is, I rolled the coins in my change jar this weekend by hand, and I had $12 in pennies. Worthless waste of time to roll that many into 50 cent bundles.


Coinstar ya fool
 
2013-02-18 11:55:35 AM
People still use paper money and coins?
 
2013-02-18 11:56:15 AM
Canada just got rid of the penny. Just about the only useful thing this government has done.
Cue the brain-damaged officemate who is worried about being ripped off by cashiers rounding up. (While ignoring the thousands of other ways that business rip us off by far larger amounts)
 
2013-02-18 11:57:02 AM

Mazzic518: naughtyrev: All I know is, I rolled the coins in my change jar this weekend by hand, and I had $12 in pennies. Worthless waste of time to roll that many into 50 cent bundles.

Coinstar ya fool


What % do you have to pay for that?
 
2013-02-18 11:57:05 AM

ph0rk: The penny needs to die and so does the paper one-dollar bill (a coin would be great).


www.hipmuseum.com

images1.wikia.nocookie.net


Yeah.....we know.
 
2013-02-18 11:57:53 AM

indarwinsshadow: Meanwhile, here in Canada we kicked the penny to the curb earlier this year. And no one give a fark. There's signs at places like Tim Hortons extolling the new "we're rounding out the purchase to the neartest cent" but in all honesty. Who the fark carries pennies in their pockets? I hardly ever carry cash anymore since 99% of places are on the Interac system.


Slippery slope.
Give it time and well be getting rid of the dollar.
Kids will only have to learn to count by fives.
Idiocracy. they could mint pennies out of a cheaper material.
Like the box full of zinc/steel pennies I have.
 
2013-02-18 11:58:16 AM

ZAZ: One burger place where I was a regular rounded my total to the nearest five cents. You can imagine the class action lawsuits if that practice became popular.

Secondly, there is a concern that loss of the penny would contribute to inflation, as retailers are far more likely to round prices up than round them down.

Make it a law: death penalty for any retailer who rounds down instead of up under the new nickel denomination regime. We'd still be better off than under the current system.


Chipotle got into some trouble for doing just that.
 
2013-02-18 11:58:20 AM
They should let us use bingo chips.
 
2013-02-18 11:58:32 AM
Abolish bills and coins altogether. More power to the geniuses in government, right liberal fascists? That way when your drug dealer gets busted, they can roll up on you and the other pot-smoking idiots as well. Maybe a few more crooked liberal politicians would have to break down and start paying taxes as well.
 
2013-02-18 11:58:38 AM

trappedspirit: People still use paper money and coins?


Yeah, people who'd rather not suck banker dick.
 
2013-02-18 11:58:39 AM

edmo: Sales tax here is 6.6%. Somehow they are able to manage 6/10 of a penny when they do the bookkeeping.

Must be magic.


Not to mention how every gas station has a price that ends in "9/10".
 
2013-02-18 11:58:43 AM
The penny is now worthless. Get rid of it, it takes a nickel to equal what a penny used to be worth. Same with the dollar, it doesn't deserve to be a bill.
 
2013-02-18 11:58:46 AM
Did we have this discussion a few weeks ago?

In any case, I am totally in favor of losing the penny.  Our gov't is so stupid with it's spending habits.  It actually loses money while MAKING money.
 
2013-02-18 11:59:24 AM

SpdrJay: When I clean my wallet of change, the pennies go straight in the trash can. I refuse to mess with them beyond that.


Sic dumpster tyrannis!
 
2013-02-18 11:59:26 AM
I could see getting rid of the penny.

They've tried dollar coins a few times. People are scared of change. It hasn't gone over too well.
 
2013-02-18 11:59:50 AM

WhippingBoy: All this nonsense will do is delay the inevitable for a couple of years.

Ask the Americans how they are enjoying their $1 coins.



/hint: they are adverse to "change"
//get it?
 
2013-02-18 11:59:57 AM
Using Checks, Debit Cards and Credit Cards doesn't require pennies to be in circulation.   Only cash purchases require pennies.

Maybe, if retailers rounded up to the nearest nickels, cash purchasers would be more likely to switch to another mechanism.
 
2013-02-18 12:00:15 PM
Wouldn't it just be easier and cheaper to make all the coins out of steel?
 
2013-02-18 12:00:15 PM

impaler: because without it, states would have to alter retail sales tax rates

No they don't.

There is absolutely no reason to keep making the penny. Not one.


Yes there is. The congresscritters that represents the districts where the raw materials are mined won`t give up those jobs\donations easily.

Or did you mean no uncorrupt reason...
 
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