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<p>[QUOTE="Conder101, post: 3739539, member: 66"]Bad Idea. Rounding to the nearest.05 means half the time it will round up and half the time it will round down and in the long run it will even out to no change in the amount of tax collected. If you mandate always rounding down then the is a tax collection shortage on almost EVERY transaction. In the long run it results in roughly a 5% shortage in collected taxes. But the merchant has to remit the full amount to the state. To offset his loss, if such a law went into effect, you would immediately see a 5% increase in the prices of everything across the board.</p><p><br /></p><p><br /></p><p>The US mint doesn't make 1 oz copper rounds as far as I know. Private mints do and then charge high multiples of the spot price for them.</p><p><br /></p><p><br /></p><p>As mentioned Congress didn't, and the Supreme Court decision didn't get the Federal government into collecting sales taxes, it said that the individual states could collect sales tax from out of state sellers if they chose to do so.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 3739539, member: 66"]Bad Idea. Rounding to the nearest.05 means half the time it will round up and half the time it will round down and in the long run it will even out to no change in the amount of tax collected. If you mandate always rounding down then the is a tax collection shortage on almost EVERY transaction. In the long run it results in roughly a 5% shortage in collected taxes. But the merchant has to remit the full amount to the state. To offset his loss, if such a law went into effect, you would immediately see a 5% increase in the prices of everything across the board. The US mint doesn't make 1 oz copper rounds as far as I know. Private mints do and then charge high multiples of the spot price for them. As mentioned Congress didn't, and the Supreme Court decision didn't get the Federal government into collecting sales taxes, it said that the individual states could collect sales tax from out of state sellers if they chose to do so.[/QUOTE]
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