3 votes
Aug 1, 2015

If the issue is the cost of the penny, then make it out of something cheaper. As long as we have sales taxes, we will need the penny. In my state, the sales tax is 6%. If I buy something that costs a dollar, How am I to come up with $1.06 without the penny? And I for one do not want to see the sales tax go up in 5% increments each time simply because we don't have the pennies that would allow us to do otherwise. It's also foolish to use a debit or credit card for small transactions because of the transaction fees involved. Those fees are absorbed either by the store or by the financial institution that issued the card, and it drives prices up indirectly. So make pennies out of beer can aluminum or plastic if you have to, but don't get rid of them.

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User voted Yes.
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1 vote,
Aug 1, 2015

You would just round like they do for property taxes. You property taxes is based on a mil levy. One mill = 0.001 last time I checked we didn't have a .001 coin. So in the case where you bought something for a $1 and had .06 in tax you'd be charged 1.05 easy.

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