From Where I sit » I think I finally figured out why some people are so gung-ho to get rid of the penny

I think I finally figured out why some people are so gung-ho to get rid of the penny

March 5th, 2013

The sales tax in Milwaukee County is 6 cents. If we got rid of the penny do you think the tax would go down to 5 cents or up to 10?

And every time a tax went up forever after it would have to go up by at least a nickel.

Looks to me like getting rid of the penny isn’t about how much money it would save the government. It’s about how much it would make the government.

Entry Filed under: Observations

1. Debunked | March 5th, 2013 at 11:50 pm

I honestly can’t tell if you have invoked a mathematics variant of Poe’s Law here or not. Are you actually serious?

You do realize that getting rid of the penny means only rounding the final amount owed when dealing with hard cash transactions. Right? Electronic payments would be untouched.

Further, your “sales tax” theory is completely and utterly bogus as that still won’t guarantee “5c multiples” due to the way that percentages and multiplication work…
2. Elliot | March 6th, 2013 at 11:43 am

I’d give you a penny for your thought…but I’m not sure if I should round it up or down.
3. Debunked | March 6th, 2013 at 9:51 pm

I only take credit so no need to round.
4. John Foust | March 9th, 2013 at 11:57 am

If they eliminate the penny, do you think retailers will adjust their before-tax prices to 5 cent increments?

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