I am with you Carl!
My take on this far fetched claim, say you buy something for $1 and the total, with tax, is $1.06. Without pennies you couldn't pay $1.06, so the gov would be "forced" to increase the tax rate to 10% so people could pay [instead of doing the obvious and reduce it to 5%]
I'm the opposite, I pay cash for most everything. I sell things on fb marketplace and people are always asking if I take vermo, google pay, apple pay ect I say nope, just $$. I do have paypal that I use occasionally, I pay my bills online but thats about it, day to day cash is king for me and I typically have a wad up to $10k on hand
Probably not something you should be posting, anyone could find this info and come for that cash.
Nooooo not the nickel it has the same value of metal that a us quarter has but you only have to pay a nickle for a clad quarter worth of metal it is the only coin left that they mint that has more value than the cost of it to you .
Thats fine, would be quite risky for them.
Sheeeee . sube
Credit card company's love you every transaction you make they make money . sube
That's right. They gouge the retailer on the swipe fee. To compensate, the retailers raise prices for us.
When your army is taking your conquered opponents gold and silver why not make REAL money paper money is an IOU that has to be backed by something of REAL value.lacking that you have to do what Kissinger did during the Nixon administration with the saudis n then opec.
He (Carl-NC) is under the assumption that the tax rate wouldn't need to change because everyone would be utilizing the cashless system. If that were true, then he'd be right, but it won't be true as long as people like you and I are alive.
Cash is only used about 15% of the time in the U.S. for the purchase of goods and services. That percentage is also quickly diminishing.
That rounding system is what I described in my first post in this thread, only in many cases they won't round down. Several state governments are too greedy to do that. And unlike Canada, here it is up to each individual state, and in some cases even what city you're in.
Where I am if you go to an NFL game they do not accept cash at all.
Right, governments are not going to want to go down 1 cent ,, But I think there would be a massive backlash even from within their own party if they raised it 4 cents because they wouldn't go down 1 cent. You said "You know, this will happen if they ever eliminate pennies" and that is not an established fact, it remains to be seen what will happen and I think its a matter of time, pennies are going to go and no one but no one is going to miss them.
How could an individual state alter federal law?
Same here. Plus a lot of people never check if they get an extra charge for using credit. So if you use a credit card you are paying 3% more to get back 1.5 percent back. Plus I never trust where a waiter/waitress tip money is going if it's on a card anyway. Used to work in restaurants when I was young and saw some shady stuff happen to their tips.
I work at a convention center alot, they changed the parking to all card no cash is accepted, that really sucked for me but nothing I could do about it, just started using my debit. I looked at my bank account online and found out that they were double and triple charging me on many days, and its $20 to park. Others were too, we were of course furious and raised hell and it took months to get my money back, now every single time I go there, and sometimes I am there every day for weeks on end, I have to check to make sure they didn't scam me again, its for reasons like this that I don't like using cards. Also got ripped off by lottery machines, they charged me $50 and the machine said oops, there was a problem, please contact our support team. Its been months and I still haven't got my $50 back, not to mention all these people getting their card info harvested and their savings drained overnight, identity theft ect, I use those damn things as less as possible.
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