Posted on 11/30/2012 7:10:34 AM PST by upchuck
Are you referring to rounding at point of sale as it pertains to taxes? I guess what I mean is that the tax rates imposed will go up instead of down. So are you saying that local and state governments would keep the rates the same, say 6%, and the retailer will round up or down accordingly? I just don’t see the rates staying static; given an opportunity, they will raise them.
So are you saying that local and state governments would keep the rates the same, say 6%, and the retailer will round up or down accordingly? I just don’t see the rates staying static; given an opportunity, they will raise them.
Why would elected officials raise the sales tax rate just because the typical checkout bill at WalMart is $63.4, Instead of $63.42?
Well, we could do all that you propose, and in 50 or 100 years, we’d just have to do it all over again...
It’s inefficient to use such low value coins (and so many of them) and to have such low-denomination currency.
“I share your views, but having a ridiculous coin system won’t stop inflation and government financial abuse any more than re-adopting the half cent.”
No, but if we take the steps that would stop inflation and government financial abuse, THEN we can revalue our currency and it would be both stable and convenient for everyone again. Why get rid of the penny when we can simply restore the penny to a reasonable value by tying our currency to a real standard? The penny would then be worth whatever we need it to be, and there is no need for new denominations, taking stuff out of circulation, or causing the public untold headaches.
I don’t know a single male who likes to have a pocketful of change.
I have struggled for the past several years in trying to find a woman’s billfold that has a decent sized change area. The current crop of billfolds available seem to be made by midget Chinese children. Anything over 8 quarters, 10 dimes, 6 nickles caused great distress to the zipper. When it gives up, the floor of my vehicle is dotted with coins. I usually put my pennies into the store’s ‘penny dish’.
This will also puthow many vending machines out of commissions?
I asked a person I know who has a laundrymat & a ‘chenge machine’ to put in bills & get the quarters that are used in his washers & dryers. He estimated that if you count EVERY single vending machine in the country that there are over 100 million. Even the ‘Red Box’ movie rentals which are available 24/7/365 are involved.
How much will it cost the owners of those machines to change over all their machines to a coin? Also- the weight of a coin is the trigger for acceptance in such machines. Keep changing the metal composition, and sooner of later, vending machines will disappear.
The machines which take bills are set up electronically to recognise paper bills. This alledged changeover will be very costly. Also- who has enough new coin accepting parts available for such a sudden rush for changeover?
In my lifetime, there have been 2 serious attempts to make us use $1 coins. Both were a complete flop. I won’t accept them, and I do alot of my shopping for cash. I got tired of Obama being able to trace all my credit card purchases.
If they re going to force this change—they had better start making lots more quarters.
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