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re: What are your views of pennies?
Posted on 1/30/15 at 8:51 am to I APOLLO I
Posted on 1/30/15 at 8:51 am to I APOLLO I
Well, when does it stop? Our currency is expressed in dollars, multiples of dollars and percentile fractions of dollars (cents).
The taxing authority loves pennies because that's where they hide. Marketers love pennies because by taking 1 off ($19.99) you somehow convince the customer that is less than $20 (which statistically, it is $20 even without taxes, shipping, etc.)
And if we do away with pennies - everything will be rounded up to the next nickel (a subtle, regressive tax on everything bought or sold) and you people will be coming for the nickels, next.
The taxing authority loves pennies because that's where they hide. Marketers love pennies because by taking 1 off ($19.99) you somehow convince the customer that is less than $20 (which statistically, it is $20 even without taxes, shipping, etc.)
And if we do away with pennies - everything will be rounded up to the next nickel (a subtle, regressive tax on everything bought or sold) and you people will be coming for the nickels, next.
This post was edited on 1/30/15 at 8:52 am
Posted on 1/30/15 at 9:37 am to Ace Midnight
quote:
The taxing authority loves pennies because that's where they hide. Marketers love pennies because by taking 1 off ($19.99) you somehow convince the customer that is less than $20 (which statistically, it is $20 even without taxes, shipping, etc.)
I don't see why 19.95 would be that big of a deal to them.
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