Mint your own imaginary coinage thread!

Beat me to it Jeff. Btw, thanks for letting me know MD and Ohio changed their law. I was not aware, I admit, some states changed their law this way. Yes, that is a racket. I apologize Mlove if I was incorrect in this regard and you were right.

 

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So if there are no pennies or cents, only nickels, who loses?

 

HOw its supposed to work, (short of some states getting greedy), would be that if you were in a 7.75 tax state, and you bought $10 or goods, your tax would be $.80, since you have to round from $.775 to the nearest nickel. A $9.99 purchase would result in $.774225 theoretically, which would round to $.75. Simple rounding rules on the total of the tax due are supposed to apply. Theoretically, all such rounding, due to the law of large numbers, should net out to zero. So no one should win or lose by having a 5 cent coin, or a ten cent coin, as the smallest denomination.

 

Eventhough it seems unfair to the consumer, I had much rather see a state gouge someone on sales taxes than on income or property taxes. At least with sales taxes, everyone pays the same. Only honest people pay the others.

 

Eh, not really. What about those people who buy out of state and do not declare Use Tax? They are avoiding the taxes. For every tax there is a workaround. The hardest probably would be some sort of VAT that gets built into the sales price of everything. Property taxes, actually, I would say have a lower ability to dodge than sales taxes.

Either way, good discussion Hommer.

 

I should have said personal propery, though real estate gets it's share. There is always the guy who has 30 vehicles and licenses one driver. And then there is the guy that can only afford one. They both pay the same taxes.

 

Being involved in a litigious process concerning the mandated liability policing of vehicles rather than drivers, I'd appreciate receiving a PM of how this is done. I have yet to locate an insuror who will issue a liability policy for an individual to drive multiple uninsured vehicles.

Please provide me with a Company name that will provide to a human, an individual automobile liability policy for multiple cars that they own. State Farm improperly advertised such a policy to induce business, without listing any qualifiers, but seemingly quickly removed same, when the Google queue leader ad was questioned.

Very Interested!!

 

Ha. Sorry but I was referring to car collectors mainly. Unless they regularly drive it, most don't pay the taxes on it. I would venture to guess most personal property is never assessed for taxes. By the way my wife is an insurance agent. No way you'll get me to go there.

 

No problem in Montana, no sales tax here.