http://MadMoneyMachine.com/2008/03/13/write-your-congressman-about-our-coins/ BEST BUSINESS PODCAST NOMINEE 2006 and 2007. Paul Douglas Boyer takes on Wall Street with complete laziness and reviews the Mad Money recommendations of Jim Cramer. Plus: Money-making idea segments like Guru Roulette, Tools in the Crib, and Portfolio Smackdown. Subscribe to get the lastest episodes! More info at MadMoneyMachine.com. Fri, 20 Jun 2008 20:44:25 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://MadMoneyMachine.com/2008/03/13/write-your-congressman-about-our-coins/comment-page-1/#comment-28846 Paul Douglas Boyer Sat, 15 Mar 2008 14:47:40 +0000 http://MadMoneyMachine.com/2008/03/13/write-your-congressman-about-our-coins/#comment-28846 Nope, it works both ways: WalMart is not going to round prices up from $14.95 to $15.0. They will mark them as $14.9. So in that case we save money. If the gobmint stops printing pennies and nickels (and quarters), then stores will have no choice but to price things in only one decimal place. A 7% tax on $14.9 would be $1.0 (actually $1.043) but just like we now drop the .003 from the price, we would then drop the .043 from the price. Total price = $15.9 There is nothing in natural law that says we have to have two decimal places. I'm sure in Zimbabwe they've dropped decimal places by now (and probably even a few thousand numerical places as well). Thanks for the comment bodotdot. Nope, it works both ways: WalMart is not going to round prices up from $14.95 to $15.0. They will mark them as $14.9. So in that case we save money.
If the gobmint stops printing pennies and nickels (and quarters), then stores will have no choice but to price things in only one decimal place. A 7% tax on $14.9 would be $1.0 (actually $1.043) but just like we now drop the .003 from the price, we would then drop the .043 from the price. Total price = $15.9
There is nothing in natural law that says we have to have two decimal places. I’m sure in Zimbabwe they’ve dropped decimal places by now (and probably even a few thousand numerical places as well).
Thanks for the comment bodotdot.

]]> http://MadMoneyMachine.com/2008/03/13/write-your-congressman-about-our-coins/comment-page-1/#comment-28717 bodotdot Fri, 14 Mar 2008 19:01:56 +0000 http://MadMoneyMachine.com/2008/03/13/write-your-congressman-about-our-coins/#comment-28717 I think there is more involved in abolishing pennies than simply discontinuing their production. The sales tax where I live is 7%. I think you'd need a universal rewrite of the sales tax code (or whatever it's called), as well. Something tells me that those in power wouldn't choose to round it down, either. I think there is more involved in abolishing pennies than simply discontinuing their production. The sales tax where I live is 7%. I think you’d need a universal rewrite of the sales tax code (or whatever it’s called), as well. Something tells me that those in power wouldn’t choose to round it down, either.

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