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553 points andrewl | 2 comments | | HN request time: 0.427s | source
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Night_Thastus ◴[] No.45903609[source]
I'd say screw it, get rid of nickles and dimes as well. Quarters can stay, for now.

It's a complete waste of money and time continuing to mint such low-value currency. It can't be used for just about anything.

Unfortunately, I do see the problem with part of this. For a handful of items where it does matter, it will force people to use cards more if they want to avoid rounding. And the card providers already have a choke-hold on retailers, and the whole thing is basically a scheme that funnels money from the poor to the wealthy via interest and fees on the consumer, interchange fees, and rewards programs.

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bbarnett ◴[] No.45904256[source]
I know you're referencing more than pennies, but to speak to pennies, I find the current rounding noise in the US to be weird. Likely, it's just more of the media, talking heads, and youtube personalities trying to turn a nothing into something, story.

Back when we did it in Canada, I don't recall a single person I knew concerned about penny rounding. Everyone was sick of pennies. No one cared. Everyone was happy. And the math seems fair enough:

https://www.budget.canada.ca/2012/themes/theme2-info-eng.htm...

Basically, if something is $1.01 or $1.02, you round down. If it's $1.03 or $1.04, you round up. Rounding is to be applied after all taxes are paid, etc.

Of course, there was also central guidance and, well, everyone just followed it. It's called "having a society".

People blathering on about stores fixing the rounding are morons, there's no way to do so if you buy more than one item. No one gets ripped off with the above method. In the end, it just works out.

And really, who cares?! It's a penny.

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jacobgkau ◴[] No.45904481[source]
> Basically, if something is $1.01 or $1.02, you round down. If it's $1.03 or $1.04, you round up.

So everything's going to be $1.03 or $1.04. Not sure why you think retailers (or any sellers) would ever, ever, ever let this play into customers' advantage.

But apparently pointing out that obvious truth makes me a "moron," because you can think of some clever ways to get around it that retailers surely won't work around.

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nothrabannosir ◴[] No.45904718[source]
Are we pretending that nobody has ever tried phasing out smaller denomination currency, and that we don’t have a vast body of actual case studies to draw from? Why are we running thought experiments at all?
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dragonwriter ◴[] No.45905456[source]
Americans like to pretend that history and the experience of the rest of the world doesn't exist and that things that large numbers of other countries have done successfully (and which even the US has done in the past, in this case, as the half-penny, after all, was phase out a long time ago) are impossible to do successfully.
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jandrewrogers ◴[] No.45905779[source]
Sales taxes as they are known in the US were largely introduced in the 20th century. The half-penny was phased out in the mid-19th century.

The legal structure of sales taxes in the US present some unique challenges that simply don't exist as problems that needed to be solved in other countries. These problems can't be legislated away because the authority to do so is highly decentralized. Pretending that these problems don't exist because they don't exist elsewhere is not helpful.

This is very much a case of the Mencken quote that for every complex problem there is a solution that is simple, obvious, and wrong.

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1. mrguyorama ◴[] No.45908094[source]
>The legal structure of sales taxes in the US present some unique challenges

Nothing about sales tax in the US is unique at all. It is not special. It is not hard. It is not a complex problem. It is basically a lookup, and computerized POS systems have managed it just fine since the dawn of computerized POS systems.

In fact, when those sales taxes were first implemented, there was problems relating to how to manage sales that resulted in fractions of a cent worth of sales tax to account for. Several states created sales tax tokens worth fractions of a cent and had to insist that it didn't technically count as money because states can't mint money legally.

https://en.wikipedia.org/wiki/Sales_tax_token

Nobody went to jail. It was a minor nuisance for consumers and was quickly replaced with law changes to just have explicit rules for the edge case, which is the entire reason we have legislatures. If you don't want retailers to respond to this change in a certain way, have your legislatures say that.

>This is very much a case of the Mencken quote that for every complex problem there is a solution that is simple, obvious, and wrong.

Just stop already. The US is not special. The US regularly insists it cannot do the same things everyone else does and it is just wrong. We literally have textbooks full of examples from our own country. We've already phased out coinage before.

The UK went from it's absurd money system to reasonable and decimalized money within living memory! 15 February 1971. Sweden had a day where they switched from left hand roads to right hand roads! https://en.wikipedia.org/wiki/Dagen_H Most of Europe switched to Euros in living memory as well!

Stop insisting reasonable societal problems are too hard to solve, because that's the only actual reason they are hard to solve

>These problems can't be legislated away because the authority to do so is highly decentralized.

It isn't at all. It's in the Federal government, and it's in your local state government, and it's in your local-er governments, and that is just like a lot of other countries. A couple layers isn't "very decentralized".

It is only in the past 50 or so years that a singular political party has insisted that the same political party that did all sorts of speedy and useful lawmaking for a hundred years suddenly cannot adapt quickly. Meanwhile, 48 state governments continue to function mostly fine, with few problems adapting to local specific problems in a timely manner. If your state cannot adapt to this quickly and easily and without serious issues, consider electing different people.

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2. quesera ◴[] No.45909182[source]
> Meanwhile, 48 state governments

48? Are some states particularly dysfunctional? Or are you excluding commonwealths?