Re:Is It Time to Kill the Penny?
by ComputerGuru on Tuesday July 14, 2020 @10:28AM
(#23832357)
> I'd really hate my 6% sales tax to be raised to 10% so that we could kill a coin I don't even use (last paid cash probably a year ago).
If you're paying in plastic then there's no rounding.
Re:Is It Time to Kill the Penny?
by ApolloFortyNine on Tuesday July 14, 2020 @11:19AM
(#23832946)
Well OP did say
>If you drop the penny, for the love of $diety change your sales tax structure so that it's a multiple of 5. 5%, 10%, 15%, etc.
Which I assumed wouldn't be just for paying with cash. I don't know if a 'cash tax' would even be legal.
Sounds like you know why that is, because people don't want to be stuck carrying around big coins.
>Side note: If you drop the penny, for the love of $diety change your sales tax structure so that it's a multiple of 5. 5%, 10%, 15%, etc... Since Canada changed but left the taxes the same (14% in Ontario IIRC) there seems to be a lot of rounding-off in favour of companies instead of consumers. $0.01-$0.02 per transaction * millions of transactions per day has got to make some accountants happy.
Over the billions of dollars spent in a state per quarter, you are either seriously screwing consumers, or seriously reducing state government revenue. I'd really hate my 6% sales tax to be raised to 10% so that we could kill a coin I don't even use (last paid cash probably a year ago).