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stopdiggin

(13,770 posts)

22. that hasn't been what happens in other economies

Thu May 22, 2025, 01:16 PM

May 22

Other people have made this 'adjustment'. It's not a big one. And one only has to look at the fact that many people won't even accept their change in pennies now ....

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Bernardo de La Paz rollin74

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Treasury Department set to phase out the penny [View all] BumRushDaShow May 22 OP

Noooooo, I love pennies and used to have several of those folding blue collector books of them (lost in a move)... wcmagumba May 22 #1

The ninnies put us in a pickle Marthe48 May 22 #2

This will complicate sales taxes no end Jilly_in_VA May 22 #3

New Zealand got rid of them in 1990. nilram May 22 #7

So, if my purchase has 11 cents sales tax, I'll have to no_hypocrisy May 22 #11

Standard rounding rules evens it all out [updated] PSPS May 22 #12

Shops will always round UP, not down. This erodes purchasing power. SunSeeker May 22 #17

that hasn't been what happens in other economies stopdiggin May 22 #22

What the fuck are you talking about? People do accept their change in pennies. SunSeeker May 22 #23

no sir. you are wrong on both accounts. stopdiggin May 22 #28

And you sir are wrong on 3 counts. SunSeeker May 22 #85

"And if you tried to round down it would be considered theft or shoplifting." stopdiggin May 22 #112

Go to the grocery store and try it. nt SunSeeker Friday #122

when I go to the grocery store, the cashier tells me the total on my bill stopdiggin Friday #129

You make my point. You pay what the store tells you, or you get no groceries. SunSeeker Friday #132

which of course has not a single thing to do with conversation at hand stopdiggin Friday #137

Yes it does. And, "as a reminder," I was responding to your post. SunSeeker Friday #139

You voluntary round up your grocery tab? stopdiggin Friday #140

No. Which is why I oppose getting rid of pennies when there is no law in place requiring rounding up AND down. SunSeeker Friday #141

well, at least we're no longer ploughing trenchant (and immaterial) ground stopdiggin Friday #142

I was never "ploughing immaterial ground." Pennies matter to the poor. SunSeeker Friday #143

And I will continue to maintain that the 'pennies matter' mantra stopdiggin Saturday #144

Eliminating pennies does indeed have bad practical import for the poor. SunSeeker Saturday #145

this is an opinion piece (not sourced to the Fed, the CBO, nor any other recognized 'authority' ) stopdiggin Saturday #146

The research by Penn State economist Ray Lombra, and more recently by Georgetown fellow Robert Shapiro are not opinion. SunSeeker Saturday #147

Wrong. The rounding in Canada is mandated by law and consumers and merchants love it. It's neutral. Bernardo de La Paz May 22 #35

That's CANADA, where people are also guaranteed free healthcare. SunSeeker May 22 #86

Eliminating healthcare has nothing to do with eliminating the penalty. The poor would lose no pennies on bread Bernardo de La Paz May 22 #89

What "proposed law" would require split rounding IN THE US? Name it please. SunSeeker May 22 #93

The law that would be required to eliminate the penny would have to be proposed, passed and enacted. . . . nt Bernardo de La Paz May 22 #96

The Bill regarding elimination of the penny was introduced in the House in February of this year Bernardo de La Paz May 22 #110

Wrong. SunSeeker Friday #120

You didn't search Bernardo de La Paz Friday #124

You didn't read SunSeeker Friday #127

Fair enough. . . . nt Bernardo de La Paz Friday #130

Here is the bill for the proposed law. Yes, it includes rounding in both directions, as is expected and sensible. thesquanderer May 22 #116

That proposal would still make people pay 5 cents for anything that costs 1-4 cents. But better than no law. SunSeeker Friday #119

There is probably nothing in a store that costs 1-4 cents. thesquanderer Friday #136

There will probaby be nothing in a store priced to allow people to round down if such a law passed. SunSeeker Saturday #148

Of course many prices round up. But generally things are just as likely to round down, so it works out even. thesquanderer Sunday #150

Rounding does not "work out even" in actual practice; the total is most often rounded up. SunSeeker Sunday #151

re: Dollar Tree's $1.25 w/ sales tax $1.37, rounding to $1.40? No, $1.37 rounds to $1.35. thesquanderer Sunday #152

It rounds to $1.40 with no rounding law in place, which is the US situation now. SunSeeker Sunday #153

The current US situation is that no rounding occurs at all. thesquanderer Sunday #154

You have way more faith in the Trump administration than I do. nt SunSeeker Sunday #155

It's not up to Trump, it's up to Congress. thesquanderer Sunday #156

It's a Trump sycophant majority who is cutting Medicaid. You think they'll get right on that rounding legislation? SunSeeker Sunday #157

No. It does not work that way. Nonsense. The law in Canada mandates rounding, which balances out Bernardo de La Paz May 22 #34

You are the one spreading nonsense. We are not Canada. We have no such law. nt SunSeeker May 22 #90

I never claimed the US had such a law. We are discussing the proposal to eliminate the penny. Bernardo de La Paz May 22 #94

LOL. The "obvious" path is not the one the US will always take. SunSeeker May 22 #99

Healthcare has nothing to do with eliminating the penny. The poor won't lose 4 cents on bread Bernardo de La Paz May 22 #100

"if Canada and New Zealand can accomplish...then so can the USA." SunSeeker Friday #121

Eliminating the penny is much simpler than ANY of those. Obviously. . . . nt Bernardo de La Paz Friday #125

Surely they'll be rounding to 5 cents, not to 10 muriel_volestrangler May 22 #19

Yes, as you say. It balances out, it's automatic in cash register, which is told cash or card Bernardo de La Paz May 22 #36

Egads! I obviously screwed up my post and will correct it. PSPS May 22 #52

absolutely not. the sales tax figure remains - 11 cents (which is of course bundled into your purchase price) stopdiggin May 22 #20

No. Bill added up, tax computed, final amount rounded plus/minus to 5 cents not ten, and only if cash. Bernardo de La Paz May 22 #37

When I was in Germany 40 years ago there wasn't a lot of US coin change around for the PX. Jacson6 May 22 #74

No Polybius May 22 #118

no it won't. stopdiggin May 22 #15

Not a problem, no complication. Half the time the customer's bill is rounded down, the other half rounded up Bernardo de La Paz May 22 #33

With so many transactions being electronic customerserviceguy May 22 #101

When Nixon told the nation to stop hoarding pennies, my wife began hoarding them in earnest. Bo Zarts May 22 #4

They haven't had pennies in Canada for years Freddie May 22 #5

long overdue. this is one place where public sentiment ran counter stopdiggin May 22 #6

But, they WILL (round up) hlthe2b May 22 #9

Depends what the laws will say. cstanleytech May 22 #18

ONLY on cash purchases. and, even there, on any purchase greater than we'll say 2 or 3 dollars stopdiggin May 22 #25

The lack of concern for the poor who do not and will not have the access to credit cards, debit cards, hlthe2b May 22 #26

It's neutral. Half the time it rounds down; other half time rounds up. Canadians are happy with the move years ago. . nt Bernardo de La Paz May 22 #30

There is still a cash economy that is hard for many to remember--for the poorest among us. hlthe2b May 22 #39

It's on the bill. The poorest in Canada have no problem with it. It's neutral, by law and automatic in the register. nt Bernardo de La Paz May 22 #40

This isn't Canada. And our "conservatives" are in no way comparable or even rational as your worst. hlthe2b May 22 #41

US cash registers work the same as Canadian. Probably made and programmed in US. And DONT SMEAR ME Bernardo de La Paz May 22 #46

Cash registers ring up the prices the owner charges. THis is idiotic, Bernard. I thought you had compassion. hlthe2b May 22 #48

I am going by the facts. You point to no applicable facts Bernardo de La Paz May 22 #54

Look, I hate what Trump's policies are doing to Canadian-American relationships, but then you post this? hlthe2b May 22 #57

This thread is about eliminating the penny. Dragging irrelevant policies into the discussion is a distraction. Bernardo de La Paz May 22 #68

even in the case of the 'poor' - the effect still amounts to - negligable stopdiggin May 22 #32

"Negligible" to you and I who are so little affected-not so much for the "cash economy." I wish we still had Bobbolink hlthe2b May 22 #38

How about you stop using Republicon naming of the Big Bum Bill, which this has NOTHING to do with. Bernardo de La Paz May 22 #49

It is additive. Just like tariffs and every single policy in that bill that will decimate the poor. hlthe2b May 22 #51

It is not additive. You can't prove that. You haven't even tried to prove that. It is neutral Bernardo de La Paz May 22 #60

Says the Canadian who despite all of DU bemoaning Trump's damage to US-Canadian relationships hlthe2b May 22 #62

Where. Provide the link for your assertion. Bernardo de La Paz May 22 #64

You are not worth my time. It was clearly highlighted in your previous posts. BYE. hlthe2b May 22 #66

Should your personal attack be alerted? I'm not going to alert your post #66 Bernardo de La Paz May 22 #69

I made no personal attack, quite the opposite in ignoring your attacks* and hoping a future will resolve hlthe2b May 22 #71

You wrote "You are not worth my time". . . .nt Bernardo de La Paz May 22 #72

Not NOW you are not. Just posting the same thing over and over and over--ignoring my points & issues. hlthe2b May 22 #76

You are the one repeating. I made points that you have not refuted. You repeat points I have refuted. Bernardo de La Paz May 22 #81

You mischaracterize me regarding the poor. When something is neutral to the poor it does NOT discount their plight Bernardo de La Paz May 22 #73

Because I am not talking about taxes as I have stated repeatedly. hlthe2b May 22 #77

You were the first to mention tariff taxes in posts 38 and 48. . . . nt Bernardo de La Paz May 22 #83

Count me opposed. Since when is creating currency or coin supposed to be at virtually no cost? hlthe2b May 22 #8

It's neutral, it's automatic, Canadians love it, it saves EVERYONE time and bother. You have no points to make. nt Bernardo de La Paz May 22 #42

This isn't Canada. GO read the Big Beautiful bill and the harms that will come to that population and hlthe2b May 22 #45

This has NOTHING to do with the Big Bum Bill Bernardo de La Paz May 22 #47

It is additive. As is a lack of compassion for the impacts (EFFECTS if you prefer) to the poor. hlthe2b May 22 #53

It is not additive. No way. Simply saying that is no proof. Bernardo de La Paz May 22 #56

The impacts, the EFFECTS of all these policies ARE additive. hlthe2b May 22 #61

Getting rid of the penny is not additive. It is neutral and makes life easier. There are no "additive" effects. Bernardo de La Paz May 22 #63

Repeating your retort that tries so damned hard to reframe my point to your desired argument is so meaningless. hlthe2b May 22 #65

You have not been understanding that eliminating the penny is neutral and people like it where it has been done. nt Bernardo de La Paz May 22 #70

Even reframing the use of the word "understanding..." as I used in my responses hlthe2b May 22 #78

Fine. You have not been understanding of me. You have not understood that I am using economics and mathematics.nt Bernardo de La Paz May 22 #84

Well then you should like Georgetown economist Robert Shapiro's study finding that eliminating the penny hurts the poor. SunSeeker Sunday #149

Thx. The Joys of Being Wrong, the diligence of DUer "SunSeeker", and the Elimination of the Penny Bernardo de La Paz Monday #158

Hmmmm? Wonder what nickels are worth now? brush May 22 #10

about 13 cents moonshinegnomie May 22 #55

Have they worked out this creating an even bigger problem with the nickel? Eugene May 22 #13

No problem with nickels in Canada. Yes, Canadian Treasury is revenue neutral bc rounding evens out in long run. nt Bernardo de La Paz May 22 #44

I grew up in the 1950's and I remember "penny candies" FakeNoose May 22 #14

My childhood home was half a block from some railroad tracks. JustABozoOnThisBus May 22 #29

Yep ... we did that too when we were kids FakeNoose May 22 #31

We used to find them in the trolley tracks here in Philly BumRushDaShow May 22 #67

I think this sucks. And like everything else, it will hurt poor people. SunSeeker May 22 #16

It is entirely neutral for the poor. It rounds out, it is automatic, it is no cost. Experience proves it. . nt Bernardo de La Paz May 22 #50

We're talking America here. The "experience" in Europe does not apply. SunSeeker May 22 #75

I did not refer to Europe. And you are wrong about corporations Bernardo de La Paz May 22 #80

What US law are you referring to? SunSeeker May 22 #82

I am referring to the proposal of eliminating the penny which would be enacted by a law. Bernardo de La Paz May 22 #87

So you're just making shit up. There is no US law requiring split rounding. nt SunSeeker May 22 #88

The OP is about a proposal. The proposal is not shit. It is practical. It would be enacted by law. . . .nt Bernardo de La Paz May 22 #91

THE OP DOES NOT DISCUSS HOW ROUNDING WILL BE HANDLED. SunSeeker May 22 #95

The elimination of the penny would require a law rounding cash transactions. This is obvious. Bernardo de La Paz May 22 #97

Tell that to Trump, who eliminated the penny via social media post, with no law in place. nt SunSeeker Friday #123

Got any more practical suggestions? He did not eliminate it. Be real. . . . nt Bernardo de La Paz Friday #126

It's not my suggestion. Trump tweeted he was ending penny production and Treasury complied. All illegal of course. SunSeeker Friday #128

He can order the tide to recede if he likes. That doesn't make it real. A tweet is not an Executive Order. Bernardo de La Paz Friday #131

His declarations are treated as law by his subservient executive branch. SunSeeker Friday #133

becasue of teh way rounding is done it wont hurt them moonshinegnomie May 22 #59

That is not how the rounding will be done in the US. SunSeeker May 22 #79

just going off texas laws moonshinegnomie May 22 #104

good. i've been refusing to take them for yrs. they arent money any more. mopinko May 22 #21

A penny for your thoughts Canada Kid May 22 #24

No more make a wish penny in the fountain? Sigh. The modern era. cbabe May 22 #27

When I was stationed in Germany the US stopped sending pennies to the base banks. SeattleVet May 22 #43

I think my time in Germany is why I hate having change in my pocket underpants May 22 #92

The rounding from the elimination of pennies would be on final transaction, not on prices. . . . nt Bernardo de La Paz May 22 #111

In Germanic if it said 4 12 or 18 it was that underpants May 22 #117

i have no problem with dumping the penny moonshinegnomie May 22 #58

Irrelevant: "costs more to manufacture than the coin is worth." That would only matter if the coin was only used FSogol May 22 #98

in 2024 it cost about 2.5c to make a penny according to the mint moonshinegnomie May 22 #105

these are a few countries that have dropped their equivalent of teh penny moonshinegnomie May 22 #106

Capitulation to Trump inflation bucolic_frolic May 22 #102

Not capitulation, not rounding prices, no problem balancing books. Bernardo de La Paz May 22 #113

Do Canadian pennies still circulate? bucolic_frolic May 22 #114

Nope. Nobody gives or takes pennies, esp not underground. Most were redeemed at banks. . . .nt Bernardo de La Paz May 22 #115

Now it will be Take A Nickel, Give A Nickel at checkout. BadgerKid May 22 #103

They say it costs four cents to make each penny. Why not just offer everyone two cents for every penny they turn in. twodogsbarking May 22 #107

Good cabotnn22 May 22 #108

I am selling pennies for 2 cents each mdbl May 22 #109

Will we then have to "surrender" our pennies because they won't no_hypocrisy Friday #134

Will very likely remain legal tender DetroitLegalBeagle Friday #135

Massive cash contributions from copper-mining firms to trump in 10, 9, 8, 7... (nt) Paladin Friday #138

My guess is EndlessWire Monday #159