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<p>[QUOTE="masterswimmer, post: 26054580, member: 102022"]Four pages of discussion and not one mention of our overlord. Let's say all pricing is adjusted fairly and all product pricing ends in either $.00 or $.05. </p><p><br /></p><p>I know not all states have sales taxes, so this analogy varies by locale. But here in NYistan our sales tax varies by county. Where I reside we <u>generally</u> are charged sales tax at the rate of 8.125%. This would take the good intentioned $1.00 product price and make it $1.08125. We've never had to pay the fractional cent total, and therefore the cash register price would total $1.08</p><p><br /></p><p>My point is, sales tax, where collected, is going to undo the possibility of good intention product pricing rounding. </p><p><br /></p><p>The cent denomination won't be going anywhere, IMO.</p><p><br /></p><p>As for the elimination of cash entirely and converting to a total digital currency, no way. What happens to commerce and the ability to tender transactions when there is a natural disaster? Unfortunately we have experienced a plethora of this exact scenario recently. With hurricanes and wildfires taking out the electrical and communications grid regionally, how would people pay for gas to evacuate, in the most severe of circumstances? No cash, no gas, no leaving for safety?</p><p><br /></p><p>A totally cashless society is a loooong way off. My prognostication is that even the youngest of CT members today won't see totally cashless in their lifetime. Forget about us old fogies.[/QUOTE]</p><p><br /></p>
[QUOTE="masterswimmer, post: 26054580, member: 102022"]Four pages of discussion and not one mention of our overlord. Let's say all pricing is adjusted fairly and all product pricing ends in either $.00 or $.05. I know not all states have sales taxes, so this analogy varies by locale. But here in NYistan our sales tax varies by county. Where I reside we [U]generally[/U] are charged sales tax at the rate of 8.125%. This would take the good intentioned $1.00 product price and make it $1.08125. We've never had to pay the fractional cent total, and therefore the cash register price would total $1.08 My point is, sales tax, where collected, is going to undo the possibility of good intention product pricing rounding. The cent denomination won't be going anywhere, IMO. As for the elimination of cash entirely and converting to a total digital currency, no way. What happens to commerce and the ability to tender transactions when there is a natural disaster? Unfortunately we have experienced a plethora of this exact scenario recently. With hurricanes and wildfires taking out the electrical and communications grid regionally, how would people pay for gas to evacuate, in the most severe of circumstances? No cash, no gas, no leaving for safety? A totally cashless society is a loooong way off. My prognostication is that even the youngest of CT members today won't see totally cashless in their lifetime. Forget about us old fogies.[/QUOTE]
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