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General Category >> Politics, Religion (Tall Table) >> new tax
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Message started by thumperclone on 02/10/25 at 08:16:40

Title: new tax
Post by thumperclone on 02/10/25 at 08:16:40

with the elimination of the penny the sales tax program at the register will have to round up to 5 cents (not likely to round down)
I understand the need to eliminate the penny

what those of us on a fixed income don't need is higher costs

Title: Re: new tax
Post by Eegore on 02/10/25 at 09:24:33

This is a difficult situation as we perceive immediate cost as more expensive than deferred cost.

Do we need to remove them from circulation or just stop making more? Why would a company have to start rounding up just because the BEP isn't currently minting a penny?

I'm ok reducing waste but keeping the penny in-place as it is unlikely we will run out soon. But there's more...

The Treasury loses more on Nickels as they cost 13.8 cents each:

https://www.usmint.gov/content/dam/usmint/reports/2024-annual-report.pdf?srsltid=AfmBOorRLbxQwjLaS_CDmE-ffOSE_ya8MtB44fKCa8S-bSRaA1wQE_C4

So either ditch the nickel also or make sure there are no additional nickels made to compensate for fewer pennies. I mere 847,001 nickels and all of the penny savings are completely wiped out. Considering they minted 202 million last year, less than a million more to "compensate" might seem reasonable on the surface.

Title: Re: new tax
Post by thumperclone on 02/10/25 at 10:02:52

the situation is definitely a can of worms

Title: Re: new tax
Post by Eegore on 02/10/25 at 10:08:59

Maybe. Personally if every transaction I made in one month, averaged, went up 4 cents I'd be out 120 dollars.

Averaged 10 per day = 300 monthly.

300 x .4 = 120

10 a day seems high, however I run a business. For a casual retiree it seems like daily transactions might be lower than that.

Title: Re: new tax
Post by Serowbot on 02/10/25 at 10:45:54

Could probably save a good amount if they made the nickle smaller
it's half a dime fer god's sake ::)

Title: Re: new tax
Post by thumperclone on 02/10/25 at 11:38:37

4452455840555843370 wrote:

Could probably save a good amount if they made the nickle smaller
it's half a dime fer god's sake ::)

damm bot that makes too much sense ;D

Title: Re: new tax
Post by Serowbot on 02/10/25 at 11:59:01

Great I'm on a roll

Now let's include the tax in the stated purchase price
I'm tired of paying $11 for a $9.99 item

Fu@k plastic straws!
Nobody cares!