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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
bysabbede ( 2678435 ) writes:
Can we just mint a ton of them once or twice a decade? I get that it doesn't make sense to spend more than one cent to mint a penny, but we should refresh the supply every now and again.
byArmoredDragon ( 3450605 ) writes:
Why bother? Nostalgia? Just to add some perspective here, when the US first discontinued the small penny, which was half of a cent, it was worth roughly 15 cents in today's money. The large penny, (which got smaller at point) which was one cent, was worth more than today's quarter at about 30 cents.
So back then, prices were incremented by more than today's quarter. There's no reason we can't simply do the same today. We may as well even get rid of nickels and dimes while we're at it. A nickel and a dime tod
byPCM2 ( 4486 ) writes:
One reason I can think of is that different states and municipalities impose different rates of sales tax at the register. Multiplying a retail price by 8.75% may not always produce an even, round number.
byBert64 ( 520050 ) writes:
Or just calculate taxes in advance and display the full price including taxes on the shelf. You can easily adjust the price of the item so that once tax is added it comes out to a round figure.
Most countries do this, so the price you see is what you actually pay.
bybradley13 ( 1118935 ) writes:
Having lived with both systems, the US approach is just weird. You buy $10 of stuff, and the cashier demands...$10.70? Huh?
Of course, I do see the problem: different states, counties and towns in pose different tax rates. In countries with VAT this is not the case: VAT is determined at the state or national level.
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byBert64 ( 520050 ) writes:
Retail stores don't float around, they know the taxes which are applicable to the location of each individual store.
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