Canada doing away with the penny, US should follow suit...

[KT4LF]

http://news.yahoo.com/canada-pennile...182928552.html

[KB4QAA]

"Have a nickel, leave a nickle. Need a nickel, take a nickel".

[WB2WIK]

"Have a nickel, leave a nickle. Need a nickel, take a nickel".

Or as Uncle Sam would say: "Have $1000? I'll take it, thanks."

[KA5ROW]

No No No Hell No: that would mean every time the price went up it must do it a 5 cents at a time.

What about taxes Think People. We have 9 cents on the dollar it would automatically go to 10 cents. If a tax increase was needed they would have no choice but to go to 15 cents. Every thing would go up that was $X.95 by a nickel. 5 cents on every thing you buy, go to wal-mart buy 35 items on your grocery list that's 35 nickels. That is $1.75 for those in Rio-Linda as Rush would say. In a years time that would some real money.

[KT1F]

go to wal-mart buy 35 items on your grocery list that's 35 nickels.

No. The total gets rounded. At the most, the rounding will increase or decrease the total by 2 cents no matter how much you buy.

[AC0FP]

No No No Hell No: that would mean every time the price went up it must do it a 5 cents at a time. What about taxes Think People. We have 9 cents on the dollar it would automatically go to 10 cents. If a tax increase was needed they would have no choice but to go to 15 cents. Every thing would go up that was $X.95 by a nickel. 5 cents on every thing you buy, go to wal-mart buy 35 items on your grocery list that's 35 nickels. That is $1.75 for those in Rio-Linda as Rush would say. In a years time that would some real money.

This would be just another way to raise taxes!

[AB2T]

No No No Hell No: that would mean every time the price went up it must do it a 5 cents at a time.

What about taxes Think People. We have 9 cents on the dollar it would automatically go to 10 cents. If a tax increase was needed they would have no choice but to go to 15 cents. Every thing would go up that was $X.95 by a nickel. 5 cents on every thing you buy, go to wal-mart buy 35 items on your grocery list that's 35 nickels. That is $1.75 for those in Rio-Linda as Rush would say. In a years time that would some real money.

A graphical introduction to swedish rounding as will soon be implemented in the Canadian VAT (national and provincial sales tax) system.

Income tax, which is not paid by cash transaction, will likely be charged to the one-cent. All countries which use cash rounding do not round for debit or credit purchases. The statistical model behind the elimination of low-value coins is not rocket science. The roundings are spaced so that in the end the net value of purchases and net consumer payment has not changed. Any fiscally responsible country has an interest in maintaining a stable inflation level.

Rush Limbaugh does not set the fiscal policy of any nation. Unfortunately he has millions of Americans enthralled to his complete absence of charity and logic. There is nothing to be done about that, sadly.

73, Jordan

[KI4NGN]

No No No Hell No: that would mean every time the price went up it must do it a 5 cents at a time.

What about taxes Think People. We have 9 cents on the dollar it would automatically go to 10 cents. If a tax increase was needed they would have no choice but to go to 15 cents. Every thing would go up that was $X.95 by a nickel. 5 cents on every thing you buy, go to wal-mart buy 35 items on your grocery list that's 35 nickels. That is $1.75 for those in Rio-Linda as Rush would say. In a years time that would some real money.

Not quite accurate. 9 cents on every dollar does not mean that the tax has to go up: 9 cents on one dollar is 90 cents on ten dollars, 9 dollars on 100 dollars, etc.

Only the final total on sales would have to be adjusted for the lack of the penny in our currency.

I'm against it for the problems that would introduce, but there does not have to be an impact on pricing and taxes, just the determination on who benefits from the rounding on the total.

[KT1F]

I quite agree. We had this debate here a few months ago. To those who object, I say come back in a year or two and we'll see if Canada has survived. Smallest coin in New Zealand these days is 10 cents. I think Australia still has a 5 cent.

[ZL2MGS]

I quite agree. We had this debate here a few months ago. To those who object, I say come back in a year or two and we'll see if Canada has survived. Smallest coin in New Zealand these days is 10 cents. I think Australia still has a 5 cent.

Yes, and here in NZ I still pay things to the exact cent, regardless of the fact that we have not had a 1 cent coin for many years.