Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Should we eliminate the cent?
>
Reply to Thread
Message:
<p>[QUOTE="EagleEye, post: 645146, member: 16990"]Why do we need the cent? </p><p> </p><p>The only reason is to facilitate state sales tax. If the states would allow rounding on tax on a per sale basis, then businesses could round down every purchase to the next 5¢. </p><p> </p><p>If the states don't want to do that, they could issue sales tax tokens in the cent denomination. These could be made privately and sold to merchants to make change when and if the current cents become scarce. </p><p> </p><p>These tax tokens would become very diverse and would make money for the states when collectors keep them for their collection. </p><p> </p><p>If neither of these ideas fly, the old "take a cent, leave a cent" works just as well, only it would be a bit more used since it would be mandatory - if you were two cents from the higher 5¢ price you would take a cent. Three cents from the lower 5¢ price, the merchant would put it in the bin. No exceptions. Actually you don't need many coins at all for this to work. </p><p> </p><p>Of course if you pay by credit card, there is no rounding, since no coins were needed. </p><p> </p><p>What do you think?[/QUOTE]</p><p><br /></p>
[QUOTE="EagleEye, post: 645146, member: 16990"]Why do we need the cent? The only reason is to facilitate state sales tax. If the states would allow rounding on tax on a per sale basis, then businesses could round down every purchase to the next 5¢. If the states don't want to do that, they could issue sales tax tokens in the cent denomination. These could be made privately and sold to merchants to make change when and if the current cents become scarce. These tax tokens would become very diverse and would make money for the states when collectors keep them for their collection. If neither of these ideas fly, the old "take a cent, leave a cent" works just as well, only it would be a bit more used since it would be mandatory - if you were two cents from the higher 5¢ price you would take a cent. Three cents from the lower 5¢ price, the merchant would put it in the bin. No exceptions. Actually you don't need many coins at all for this to work. Of course if you pay by credit card, there is no rounding, since no coins were needed. What do you think?[/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
>
US Coins Forum
>
Should we eliminate the cent?
>
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...