The real reason for your proposed dollar coin

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wserra
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Re: The real reason for your proposed dollar coin

Postby wserra » Mon Nov 07, 2016 12:52 am

Long live the Dorsai Irregulars!
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Pottapaug1938
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Re: The real reason for your proposed dollar coin

Postby Pottapaug1938 » Fri Apr 21, 2017 9:16 pm

webhick wrote:I'm procrastinating and so I had some random fleeting thoughts. What if they eliminate all coinage? Would they end up rounding to the nearest dollar or would it all be rounded up?


Canada hasn't gone that far; but they stopped minting 1 cent coins in 2012, and their lowest value coin is now the 5 cent piece. The way that their rounding works is that you total up the purchases, just as they always have. If the grand total ends in a 1 or a 2, it gets rounded down to the previous 0. It it's 3 or 4, it gets rounded up to the next 5. If it ends in 6 or 7, it gets rounded down to the previous 5. If is ends in 8 or 9, it gets rounded up to the next 0.

In the end -- you win some, you lose some; and the rounding rules are prescribed, so the paranoiac rant of "they'll just cheat us by rounding everything up" seems to something less than accurate.
"We've been attacked by the intelligent, educated segment of the culture." -- Pastor Ray Mummert, Dover, PA, during an attempt to introduce creationism -- er, "intelligent design", into the Dover Public Schools

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Re: The real reason for your proposed dollar coin

Postby NYGman » Fri Apr 21, 2017 9:37 pm

I am betting there are people who when they go shopping, for many items, groceries for example, the spit up their purchases in to groups that would result in only rounding down, just to mess with the tax man. I know I would be tempted to do that. :twisted:
The Hardest Thing in the World to Understand is Income Taxes -Albert Einstein

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Re: The real reason for your proposed dollar coin

Postby Burnaby49 » Fri Apr 21, 2017 11:23 pm

NYGman wrote:I am betting there are people who when they go shopping, for many items, groceries for example, the spit up their purchases in to groups that would result in only rounding down, just to mess with the tax man. I know I would be tempted to do that. :twisted:


It has nothing to do with taxes, just how your change at the till is determined in the absence of pennies. It took the population of Canada a grand total of about thirty seconds to adapt to a pennyless world.
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Re: The real reason for your proposed dollar coin

Postby NYGman » Fri Apr 21, 2017 11:47 pm

My bad, I figured I was the tax bit rounded down. In the US we add tax to the price, so $10 in NYC becomes 10.89. so I'm my mind, rounding up would give an extra penny to the government add the store gets it $10, .90 would go to NY.
The Hardest Thing in the World to Understand is Income Taxes -Albert Einstein

Freedom's just another word for nothing left to lose - As sung by Janis Joplin (and others) Written by Kris Kristofferson and Fred Foster.

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Re: The real reason for your proposed dollar coin

Postby Burnaby49 » Sat Apr 22, 2017 1:03 am

NYGman wrote:My bad, I figured I was the tax bit rounded down. In the US we add tax to the price, so $10 in NYC becomes 10.89. so I'm my mind, rounding up would give an extra penny to the government add the store gets it $10, .90 would go to NY.


We have a sales tax in most provinces (I believe Alberta is the only exception) which is imposed on the sales price of the items purchased. How much change you get is irrelevant to the amount of tax imposed. It's largely irrelevant for most transactions anyhow because it is only an issue in cash purchases. The penny still exists in the digital world so if you pay by debit or credit card your billed amount is the exact purchase price.
"Yes Burnaby49, I do in fact believe all process servers are peace officers. I've good reason to believe so." Robert Menard in his May 28, 2015 video "Process Servers".

https://www.youtube.com/watch?v=XeI-J2PhdGs

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Re: The real reason for your proposed dollar coin

Postby KickahaOta » Thu May 04, 2017 9:08 pm

Burnaby49 wrote:We have a sales tax in most provinces (I believe Alberta is the only exception) which is imposed on the sales price of the items purchased. How much change you get is irrelevant to the amount of tax imposed. It's largely irrelevant for most transactions anyhow because it is only an issue in cash purchases. The penny still exists in the digital world so if you pay by debit or credit card your billed amount is the exact purchase price.


So there you go; that's how the clever citizen profits from this. Before deciding on a form of payment, figure out the total. (I suppose you could wait for the cashier to bring it up, but since we're all naturally brilliant we can do the math in our heads.) If the total ends in 1, 2, 6, or 7, pay cash and get your downward rounding. If the total ends in 3, 4, 8, or 9, pay with plastic. You could easily save as much as four cents per day!

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Re: The real reason for your proposed dollar coin

Postby Pottapaug1938 » Thu May 04, 2017 9:14 pm

KickahaOta wrote:
Burnaby49 wrote:We have a sales tax in most provinces (I believe Alberta is the only exception) which is imposed on the sales price of the items purchased. How much change you get is irrelevant to the amount of tax imposed. It's largely irrelevant for most transactions anyhow because it is only an issue in cash purchases. The penny still exists in the digital world so if you pay by debit or credit card your billed amount is the exact purchase price.


So there you go; that's how the clever citizen profits from this. Before deciding on a form of payment, figure out the total. (I suppose you could wait for the cashier to bring it up, but since we're all naturally brilliant we can do the math in our heads.) If the total ends in 1, 2, 6, or 7, pay cash and get your downward rounding. If the total ends in 3, 4, 8, or 9, pay with plastic. You could easily save as much as four cents per day!


Wow! After a whole year of this kind of circus, I could rake in as much as $14.60 ($14.68 in leap years)! That's just about enough for a growler fill at the brewery where my son works.
"We've been attacked by the intelligent, educated segment of the culture." -- Pastor Ray Mummert, Dover, PA, during an attempt to introduce creationism -- er, "intelligent design", into the Dover Public Schools

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Re: The real reason for your proposed dollar coin

Postby NYGman » Thu May 04, 2017 9:18 pm

KickahaOta wrote: You could easily save as much as four cents per day!

You will be rich in no time, using that method. Free money, perhaps you have uncovered Bobby Menards next cunning plan to get rich.
The Hardest Thing in the World to Understand is Income Taxes -Albert Einstein

Freedom's just another word for nothing left to lose - As sung by Janis Joplin (and others) Written by Kris Kristofferson and Fred Foster.

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Re: The real reason for your proposed dollar coin

Postby KickahaOta » Thu May 04, 2017 9:48 pm

For added savings, if the total ends in five or zero, pay with Re or promissory notes.

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Re: The real reason for your proposed dollar coin

Postby The Observer » Thu May 04, 2017 10:59 pm

Pottapaug1938 wrote:Wow! After a whole year of this kind of circus, I could rake in as much as $14.60 ($14.68 in leap years)!


Laugh all you want, but you are forgetting that this is a huge sum of money for a FOTLer like Dean who has to maintain his hobo status.
"I could be dead wrong on this" - Irwin Schiff

"Do you realize I may even be delusional with respect to my income tax beliefs? " - Irwin Schiff

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Re: The real reason for your proposed dollar coin

Postby Pottapaug1938 » Fri May 05, 2017 1:17 pm

The Observer wrote:
Pottapaug1938 wrote:Wow! After a whole year of this kind of circus, I could rake in as much as $14.60 ($14.68 in leap years)!


Laugh all you want, but you are forgetting that this is a huge sum of money for a FOTLer like Dean who has to maintain his hobo status.


At least in Massachusetts, his time would be much more profitably spent collecting deposit bottles and cans and taking them in for redemption. In non-deposit states, he could take the cans, crush them, and bring them to a scrap metals dealer.
"We've been attacked by the intelligent, educated segment of the culture." -- Pastor Ray Mummert, Dover, PA, during an attempt to introduce creationism -- er, "intelligent design", into the Dover Public Schools

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Re: The real reason for your proposed dollar coin

Postby The Observer » Fri May 05, 2017 4:12 pm

Pottapaug1938 wrote:At least in Massachusetts, his time would be much more profitably spent collecting deposit bottles and cans and taking them in for redemption. In non-deposit states, he could take the cans, crush them, and bring them to a scrap metals dealer.


The words "Dean Clifford", "time" and "profitably spent" should never occur in a sentence, since those conditions could never be met.
"I could be dead wrong on this" - Irwin Schiff

"Do you realize I may even be delusional with respect to my income tax beliefs? " - Irwin Schiff

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Re: The real reason for your proposed dollar coin

Postby Pottapaug1938 » Fri May 05, 2017 5:15 pm

The Observer wrote:
Pottapaug1938 wrote:At least in Massachusetts, his time would be much more profitably spent collecting deposit bottles and cans and taking them in for redemption. In non-deposit states, he could take the cans, crush them, and bring them to a scrap metals dealer.


The words "Dean Clifford", "time" and "profitably spent" should never occur in a sentence, since those conditions could never be met.


Welllllllllll... it could happen... just like Congress could start using rock-paper-scissors to settle arguments over proposed legislation.
"We've been attacked by the intelligent, educated segment of the culture." -- Pastor Ray Mummert, Dover, PA, during an attempt to introduce creationism -- er, "intelligent design", into the Dover Public Schools


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