Time to get rid of the penny?

[newarkhiphop]

I have a I. T cert, I say we get rid of anything under a $20 bill

 

[Uncle Kingpin]

Getting rid of the penny means businesses get to round up what you pay for, and round down what they pay you. I know most of you think so what? That averages out to a 5% increase in "the man"s bottom line, and a 5% decrease in people's purchasing power. Most retail businesses have a very low profit margin as is, so this could increase their profit margins anywhere from 20-100% percent, and they WONT pass the savings down to you.

 

[Poitier]

Getting rid of the penny means businesses get to round up what you pay for, and round down what they pay you. I know most of you think so what? That averages out to a 5% increase in "the man"s bottom line, and a 5% decrease in people's purchasing power. Most retail businesses have a very low profit margin as is, so this could increase their profit margins anywhere from 20-100% percent, and they WONT pass the savings down to you.

How this is already implemented in Canada.

If you purchase an item with a final value of $0.94 or below, it gets rounded down to $0.90. If the final value is $0.95, that is what you pay. If the final value is $0.96 or more you round up to $1.00.

Now merchants do have an advantage as they can always slightly increase prices until it reaches the threshold of rounding up. The consumer however can take advantage of this by purchasing two or more items that do not reach that threshold, thus rounding down the value while increasing cost savings.

Pennies, I know.

 

[the cac mamba]

Are you going to take the loss of a few cents everytime you buy something?

fukk yes

how the hell is ANYONE using this as an argument? crackheads wouldnt be affected by rounding up for pennies

also, rounding up=more spent at stores, better for the economy. if you're complaining about losing the purchasing power of a few pennies,

 

[Dooby]

fukk yes

how the hell is ANYONE using this as an argument? crackheads wouldnt be affected by rounding up for pennies

also, rounding up=more spent at stores, better for the economy. if you're complaining about losing the purchasing power of a few pennies,

That shyt adds up. Wealthy people don't get or stay that way by spending willy nilly.

 

[Poitier]

That shyt adds up. Wealthy people don't get or stay that way by spending willy nilly.

Small businesses would see the same positives as well. So would our overall economy. Pennies do add up but most people throw them out and they get lost in the system.

 

[CASHAPP]

Man. The fukk you talking about with this bullshyt ass scenario. Do iI really need to tell you to take the rolled coins to the bank. On second thought. I prolly should. I forget that the coli is actually full of dusty ass paycheck to paycheck bums. You prolly get your lil check cashed by the Arabs at the mini mart up the street. I forget a lot of y'all don't got bank accounts and shyt and still live with Ma Dukes.



I agree. If you just got a couple handfuls of change. It prolly not worth the time to roll. Last time I rolled my change i had about 400 bucks. So are thes fukking clowns saying Coinstar is worth the 35 dollar charge just to count the shyt.

fukk outta here. Yall trying to hard to defend your stupidity for getting raped outta your own money.

Breh I need some advice to get a couple of hundred dollars in change in less than a month!!!

doesn't have to be pennies just change in general....I know the whole "check under your living room couch" type of answers but there gotta be something more specific than that....I need to a whole collection of them in a short time

 

[Poitier]

Breh I need some advice to get a couple of hundred dollars in change in less than a month!!!

doesn't have to be pennies just change in general....I know the whole "check under your living room couch" type of answers but there gotta be something more specific than that....I need to a whole collection of them in a short time

Use cash and not credit. Get a big ass jar to put it in. When it fills up, cash out.

 

[Kritic]

no. in retail there's a huge difference btwn $250 and $249.99

 

[TLR Is Mental Poison]

Definitely, wish nickels could go too but then quarters would be fukked.