I am completely for the elimination for the cent. The penny and nickel cost the government about $100 million just in metal costs anyway. Not to mention the shipping and processing of them and the cost of stores using the worthless chunk of metal. I would really like the U.S. to go the way of Fiji and New Zealand by getting rid of the penny and possilby the nickel, and coming out with a cheaper set of larger denomination coin, 5, 10, 20, and 50 cents.
Other countries can eliminate their low-denomination coins and enforce “fair rounding” rules because they don’t have the crazy-quilt of local sales taxes and business laws present in the U.S. I live in a town where there are 3 different sales tax levels within 20 miles and the differential already affects where people shop. If merchants in the high-tax areas were forced to round up further there’d be even more distortions. And what owner would consent to have the government make even more intrusions into their activities by telling them how they had to round the price of every item in their inventory?
BTW, Webmaster, the expression is FOLLOW SUIT, not FOLLOW SUITE.
December 27th, 2008 at 3:43 pm
I am completely for the elimination for the cent. The penny and nickel cost the government about $100 million just in metal costs anyway. Not to mention the shipping and processing of them and the cost of stores using the worthless chunk of metal. I would really like the U.S. to go the way of Fiji and New Zealand by getting rid of the penny and possilby the nickel, and coming out with a cheaper set of larger denomination coin, 5, 10, 20, and 50 cents.
January 2nd, 2009 at 9:43 pm
Other countries can eliminate their low-denomination coins and enforce “fair rounding” rules because they don’t have the crazy-quilt of local sales taxes and business laws present in the U.S. I live in a town where there are 3 different sales tax levels within 20 miles and the differential already affects where people shop. If merchants in the high-tax areas were forced to round up further there’d be even more distortions. And what owner would consent to have the government make even more intrusions into their activities by telling them how they had to round the price of every item in their inventory?
BTW, Webmaster, the expression is FOLLOW SUIT, not FOLLOW SUITE.