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Message
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
1
Posted on 1/30/15 at 8:52 am to lsu480
Yeah...no
Posted on 1/30/15 at 8:52 am to Walt OReilly
Pennies were useful when they were first produced because you could actually buy things with pennies. Now you cannot buy anything with pennies without looking like a fool. Filling up your car with 3,543 pennies 
Posted on 1/30/15 at 8:53 am to I APOLLO I
I pick them up if they are heads up. That's about it. I
can't tell you the last time I used one and I seldom get one back as change. A lot of times the cashier will round up and give me 75 cents rather than 73. Sometimes I'll notice them shorting me a few pennies as well, but I don't mind.
can't tell you the last time I used one and I seldom get one back as change. A lot of times the cashier will round up and give me 75 cents rather than 73. Sometimes I'll notice them shorting me a few pennies as well, but I don't mind.
Posted on 1/30/15 at 8:53 am to I APOLLO I
Got 200 of them rolled-up in my car right now. Gonna trade them in for a $200 million dollar ticket tmr
Posted on 1/30/15 at 8:54 am to I APOLLO I
Penny saved is a penny earned
Posted on 1/30/15 at 8:58 am to I APOLLO I
quote:
Pennies are inefficient uses of currency.
I beg to differ... how the hell else would you make memories at various destinations across the U.S.?
Posted on 1/30/15 at 9:08 am to Col reb 2011
quote:I'm confused here.
They should round up/down to the nearest .05. If the total is .7 round up and if it is .3 round down
Posted on 1/30/15 at 9:10 am to Road Tiger
quote:
Thanks Obama!
He actually was for doing away with the penny.
Posted on 1/30/15 at 9:12 am to WDE24
For example...
If you go to the grocery store and the total is 10.22- you would pay 10.20
If the total was 10.23- you would pay 10.25
You win sometimes, you lose sometimes, but it all averages out
If you go to the grocery store and the total is 10.22- you would pay 10.20
If the total was 10.23- you would pay 10.25
You win sometimes, you lose sometimes, but it all averages out
Posted on 1/30/15 at 9:13 am to iAmBatman
You never use cash? I think everyone has to use it at least once a month for something.
Posted on 1/30/15 at 9:14 am to I APOLLO I
That isn't what the post I responded to described.
Posted on 1/30/15 at 9:17 am to lsu480
Canada gets by just fine without them, as stated, just round up/down to the nearest multiple of 5.
Get rid of the dollar bill while we're at it.
Get rid of the dollar bill while we're at it.
Posted on 1/30/15 at 9:21 am to lsu480
Only way I get cash is if a buddy owes me money.
Paycheck is direct deposit
Pay all bills online
Use debit or credit card when I'm out
Paycheck is direct deposit
Pay all bills online
Use debit or credit card when I'm out
Posted on 1/30/15 at 9:21 am to I APOLLO I
quote:
If you go to the grocery store and the total is 10.22- you would pay 10.20 If the total was 10.23- you would pay 10.25
Uh - no. That's not how the real world works. You would pay $10.25 in both of those situations without pennies.
Wal-Mart, Visa, Checkguard, whoever, is not going to take less on a transaction, period.
Like I said, a subtle, hidden tax on everything.
This post was edited on 1/30/15 at 9:22 am
Posted on 1/30/15 at 9:23 am to Ace Midnight
quote:
Uh - no. That's not how the real world works.
Uh - Yea, thats exactly how it works in other countries.
The rounding is done prior the the CC being swiped.
Posted on 1/30/15 at 9:23 am to I APOLLO I
I like the one on The Big Bang Theory
Posted on 1/30/15 at 9:25 am to clept
quote:
The rounding is done prior the the CC being swiped.
So, the vendor just takes less? I know the taxing authority doesn't want to hear all that rounding crap.
And it just all works out, at the end of the day, magically? I bet the accountants love that.
Posted on 1/30/15 at 9:28 am to Ace Midnight
quote:
So, the vendor just takes less?
Or the vendor takes more, ie. .25¢ on a .23¢ transaction.
Posted on 1/30/15 at 9:29 am to I APOLLO I
Putin wouldn't dare start a war with the US and allies when their economy is shite. Although war is what got the US out of the Great Depression.
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