Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Kill the penny
>
Reply to Thread
Message:
<p>[QUOTE="-jeffB, post: 1098715, member: 27832"]I was unclear in my previous post, coleguy, and I may be misunderstanding the point you're trying to make.</p><p><br /></p><p>It <i>sounds</i> like you're saying that when I buy (say) ten items, each item gets taxed individually, <i>each item's tax gets rounded up individually</i>, and then those rounded taxes get added up. I'm saying that that isn't true, at least not if you buy everything in one transaction.</p><p><br /></p><p>Let's say I buy twenty candies at five cents each. Sales tax here is 7.75%.</p><p><br /></p><p>Exact sales tax on each candy would be 0.3875 cents.</p><p><br /></p><p>If the retailer rounded up each item's tax individually, I'd be charged twenty cents for tax.</p><p><br /></p><p>If the retailer fairly rounded each item's tax individually, I'd be charged zero cents for tax.</p><p><br /></p><p>I'm not. I'm charged 7.75 cents for tax, rounded up to 8 cents.</p><p><br /></p><p>If that really bugged me, I could instead buy 19 candies, and be charged 7.3625 cents for tax, rounded down to 7 cents. Stick it to the man!</p><p><br /></p><p>But, given the largely random way in which I group my grocery purchases, I'm willing to bet that my rounding gains and losses over the course of a year cancel to within much less than a dollar.[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 1098715, member: 27832"]I was unclear in my previous post, coleguy, and I may be misunderstanding the point you're trying to make. It [I]sounds[/I] like you're saying that when I buy (say) ten items, each item gets taxed individually, [I]each item's tax gets rounded up individually[/I], and then those rounded taxes get added up. I'm saying that that isn't true, at least not if you buy everything in one transaction. Let's say I buy twenty candies at five cents each. Sales tax here is 7.75%. Exact sales tax on each candy would be 0.3875 cents. If the retailer rounded up each item's tax individually, I'd be charged twenty cents for tax. If the retailer fairly rounded each item's tax individually, I'd be charged zero cents for tax. I'm not. I'm charged 7.75 cents for tax, rounded up to 8 cents. If that really bugged me, I could instead buy 19 candies, and be charged 7.3625 cents for tax, rounded down to 7 cents. Stick it to the man! But, given the largely random way in which I group my grocery purchases, I'm willing to bet that my rounding gains and losses over the course of a year cancel to within much less than a dollar.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Kill the penny
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...