Monday, April 02, 2012
Pennies, Pennies Everywhere
Except in Canada, where sense has prevailed. Yes we should lose the penny (and the nickle and the dollar bill) and no, it probably wouldn't hurt the poor as this states. A couple reasons: one is that the $x.99 would, if it does change, go to $x.95, for the same reason it is currently $.99, and the other reason is more of a savvy business notion one. If a business rounds down, that may encourage cash purchases, which net them more profit since they don't have to pay the credit/debit card transaction fee.