Should we eliminate the penny?

[mrkilla]

they'll just make things a 1.95 instead

[rwanger]

I would also like to point out the hilarity of this paragraph, quoted from the article:

[ QUOTE ]
"Kolbe is a good member of Congress but wrong on this issue," said Mark Weller, Executive Director of the pro-penny organization, Americans for Common Cents. "When he did this in 2001, he received no support. Not one co-sponsor. I think we'll see a similar response this time." "Americans overwhelmingly want the penny," said Weller. "They also hate rounding."

[/ QUOTE ]

At first I thought the funniest part was that "Americans overwhelmingly want the penny", because I don't think it's true.

Then I laughed at "They also hate rounding," which although perhaps true, is a hilarious generalization about Americans.

But in the end, I am most amused by the fact that someone formed a pro-penny organization called Americans for Common Cents!?!

[TheWorstPlayer]

seriously - don't people have bigger issues to tackle? how would it really affect anyone's life if they got rid of the damn thing. would Mark Weller curse a blue streak every time he had to buy something that was $20 if they got rid of the penny because he could have been paying only $19.99?

[MrMon]

Personally, I love that people hate pennies because it makes them throw them away. Then my 5 year-old gets to find them in parking lots, and there's nothing happier than a five year-old who's just found 8 pennies at once on the ground.

[TheWorstPlayer]

[ QUOTE ]
there's nothing happier than a five year-old who's just found 8 pennies at once on the ground.

[/ QUOTE ]
What about a trained martial artist killing hundreds of your son's friends?

[acoustix]

Bear with me as I am not a financial wizard, but if they eliminate the penny, wouldn't they have to make sales tax 10cents on the dollar??? Lord knows they won't LOWER it to 5cents on the dollar. I vote keep it if this is the case.

[TheWorstPlayer]

[ QUOTE ]
Bear with me as I am not a financial wizard, but if they eliminate the penny, wouldn't they have to make sales tax 10cents on the dollar??? Lord knows they won't LOWER it to 5cents on the dollar. I vote keep it if this is the case.

[/ QUOTE ]
They can keep sales tax at whatever it is. Then make the prices something which AFTER SALES TAX is a multiple of 5c.

[bisonbison]

Yes. You should eliminate the penny. You have your assignment, get to work.

[dogdrool]

Down with the penny. Down with the nickle too, for that matter. I can live with the dime because it's small. If it were larger I'd say we should just round to $0.25. The thought of my pockets containing no coins worth less than $0.25 is a happy one.

[acoustix]

TWP- So they would essentially round to the nearest nickel? I.e., if something were $19.95 (because we don't have pennies) and the 6% sales tax should make it $21.18, they would round it to 21.20 or 21.15. Is this correct?