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What's the goal you are using to call it a win? Reduce payroll? Or is the goal to have an efficiently run but competent organization?Ordering workers back to office is a win.
Not sure your time zone, but this feels a bit like counting your chickens. Careful, CR.I want to thank the Trump administration for not blowing up the world today.
Eventually? There are a lot of pennies out there. I doubt they will be invalidated (?)I'm all for getting rid of pennies, but how is this going to work? Are retailers going to be required to round all payments down to the nearest nickel?
I remember there being a penny shortage during Covid, and that was with continued printing.Eventually? There are a lot of pennies out there. I doubt they will be invalidated (?)
Maybe they’ll have a return your pennies drive? After that, I guess round up or down to a nickel on stuff.I remember there being a penny shortage during Covid, and that was with continued printing.
And what % of pennies "out there" are usable, versus being stuck to the bottom of a cupholder, shoved deep into kitchen cabinets, filling little kids wallets and all the other inglorious ends to which pennies meet?
It's of course economically insignificant, but this is the sort of change that can produce all sorts of unintended consequences because nobody bothers to think it all the way through. The retailers probably can't round up or they will be sued for false advertising (if I buy one thing for .98 and the total is rounded up to $1, then the .98 is arguably false). So they round down. I mean, fine, but that's a hidden tax on the retailer. Will it apply to credit card transactions too, at the retail level?Maybe they’ll have a return your pennies drive? After that, I guess round up or down to a nickel on stuff.
We have computers.It's of course economically insignificant, but this is the sort of change that can produce all sorts of unintended consequences because nobody bothers to think it all the way through. The retailers probably can't round up or they will be sued for false advertising (if I buy one thing for .98 and the total is rounded up to $1, then the .98 is arguably false). So they round down. I mean, fine, but that's a hidden tax on the retailer. Will it apply to credit card transactions too, at the retail level?
I mean, I don't know the ins and outs of retail regulations. It just seems like it could be a lot more trouble than it's worth, just like the penny.
Down? Don't be silly.I'm all for getting rid of pennies, but how is this going to work? Are retailers going to be required to round all payments down to the nearest nickel?
“…
Some argue that the cost savings would be worth it, pointing to Canada, which stopped producing pennies in 2012, as an example.
Others say abolishing the coin would have consequences such as increasing consumer prices by rounding transactions up.
While the president ultimately has the authority to decide which coins the Treasury mints, one stumbling block could be how merchants manage change, according to TD Cowen analyst Jaret Seiberg.
… In the event of the Treasury removing the penny from circulation, Congress would likely move quickly to legislate to enable merchants to round transactions to the nearest nickel. …”
I would go ahead and rip off the bandaid and get rid of the nickel. Round everyone up to the .1 decimal instead of the .01