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 Replies: 72 / Views: 6,694 |
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Valued Member
 United States
95 Posts |
@Larsdog, I don't have the time for your little exercise. Which quite frankly I find offensive and obnoxious. If you don't believe me that's your prerogative.
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Pillar of the Community
Canada
2805 Posts |
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@Larsdog, I don't have the time for your little exercise. Which quite frankly I find offensive and obnoxious. If you don't believe me that's your prerogative. Serious business? |
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Moderator
 United States
189648 Posts |
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I checked over 20 receipts I have saved for tax purposes... So tell me, on a receipt for $100 in product, is the total $109 or $108.75? If they are rounding the 8.75% tax up to 9%, which they are not, the total would be $109.  Of course cents are required for totals now because we have cents. But it we did not have cents, we could just as easily round to the nearest five cents. Quote:
Just about every tax calculation is rounded to the nearest penny and generally there are about as many rounded up as rounded down. If the tax rate were rounded to the nearest dime, there would still be as many rounded up as down and the amount of tax paid for several transactions would be roughly the same. The big difference is small transactions. Right now, you have to pay tax on any purchase over five cents. If tax was rounded to the nearest dime, you would not pay tax unless the total was over fifty cents. Worth repeating.  Quote:
@Larsdog, I don't have the time for your little exercise. Which quite frankly I find offensive and obnoxious. Really? How so? It is a simple question, I see nothing wrong with it. If you do not have time, we understand, but you should not continue to post incorrect information if you are not willing to back it up with the evidence. I you are not willing to learn, you are in the wrong place. |
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Valued Member
United States
95 Posts |
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So tell me, on a receipt for $100 in product, is the total $109 or $108.75? If they are rounding the 8.75% tax up to 9%, which they are not, the total would be $109. Talk about a loaded question and grabbing at straws to try to make your point. Why would a round number need to be rounded either up or down. I never made such a claim as you, by asking this question are desperately implying. so of course, since it is a whole number there is no need to round any which way, I'm shocked this comes from a moderator, makes you wonder about the integrity of the site! |
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Moderator
United States
189648 Posts |
I was trying to make this as simple as possible for you to see that they are not rounding the sales tax from 8.75% to 9%. They are rounding the final total after sales tax has been calculated. You said... Quote:
8.9% which does get rounded-up to 9 cents on the dollar It does not. If it did, then the 100 dollar purchase would have 9 cents on each of those dollars making it $109. Does that make sense to you now? If you misspoke, or I misunderstood you, please clarify. Quote:
I'm shocked this comes from a moderator, makes you wonder about the integrity of the site! Choose your next words wisely. |
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Bedrock of the Community
United States
17884 Posts |
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On a $1 item the sales tax is $.09 the sales tax, on a $2 item is $.18, the sales tax on $3 is $.27 that's rounding-up and requires pennies. And if you got rid of the cent and nickel on a $1 purchase you would pay $0.10 tax, for $2 $0.20 tax, $0.30 for a $3 purchase and so on. Sounds like you are being taxed more doesn't it? Except for less than a 50 cent purchase you pay no tax. Between $1 and $1.50 you pay no additional tax. From $1.50 to $2.5 you pay the $0.20 tax and from $2.50 to $3.50 you pay $0.30 and so on. So take your 20 receipts and figure the tax using that method. Then total them up and see how the total compares to the total of the current receipts. At the worst they will probably differ by about $0.10 And it could be ten cent higher or lower. (Total the pre-tax figures, round up or down to the nearest dollar and multiple by 1.1 and see how that compares to the totals. Once again they should be fairly close. I would expect they will be a little higher because I have in effect give yo a 10% tax rate. If you really want to see what would happen without cents and nickels at your current 8.9% rate take the amount of each receipt and round it up or down to the nearest dime, total them and compare that to the current total of the receipts. How far apart are they? |
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Pillar of the Community
United States
593 Posts |
Conder, I was going to do the calculations for him and show the results if he provided the raw data. It makes sense once you see an example and even more so when it's your own data. One way the data can get skewed is if you buy the same thing every day and the pre-tax price is a little below or above the rounding price.
Also, you should have pointed out that while you pay more tax on $1, $2, $3, you pay LESS on some amounts when you get to $5:
$1.00 x .089 = 8.9c rounded to 9c or 10c
$2.00 x .089 = 17.8c rounded to 18c or 20c
$3.00 x .089 = 26.7c rounded to 27c or 30c
$4.00 x .089 = 35.6c rounded to 36c or 40c
$5.00 x .089 = 44.5c rounded to 45c or 40c
$6.00 x .089 = 53.4c rounded to 53c or 50c
$7.00 x .089 = 62.3c rounded to 62c or 60c
$8.00 x .089 = 71.2c rounded to 71c or 70c
$9.00 x .089 = 80.1c rounded to 80c or 80c
$10.00 x .089 = 89.0c rounded to 89c or 90c
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Valued Member
United States
280 Posts |
Why make a $2 coin when nobody will use the easier $2 bills?....
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Pillar of the Community
United States
593 Posts |
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Why make a $2 coin when nobody will use the easier $2 bills?.... Well, now, that's a very good point! |
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Pillar of the Community
708 Posts |
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Why make a $2 coin when nobody will use the easier $2 bills?.... Quote:
Well, now, that's a very good point! Although I suggested that the Treasury do away with both, $1 and $2 bills simultaneously and release a new $2 coin when they get rid of both bills, I sometimes think "Should we let our fellow Americans get used to a circulating $2 denomination in bill form, to get used to the $2 denomination? Or should we just scrap the $2 bill all together and risk releasing a $2 coin, and hoping it will circulate?"  All we really need to do, to get the $2 coin to circulate though, is the same way to get the half circulating: Have vending machines and self checkout machines programmed to accept and dispense them as change.  |
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Moderator
United States
189648 Posts |
I do not think we should immediately issue a two dollar coin. Get rid of the one dollar note and allow the dollar coins to become common. The additional demand for the two dollar note should come naturally.
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Valued Member
United States
317 Posts |
yeah get rid of the dollar and replace it with dollar coins. yeah great idea, the American public really love the Presidential dollars, we loved the Anthonies, the Ikes and of course everyone today would love to carry around a Morgan or Peace sized copper alloy huge coin. yeah, I love that idea. but hold on, lets bring in a $2 coin and place ronald reagan or rin tin tin on it!! I can see collectors running to their LCS asking "has the rin tin tin" coin come in yet? or "I just gotta have the Ronald Reagan coin"! yeah I can't wait. |
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Replies: 72 / Views: 6,694 |
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Posted 08/08/2013 9:39 pm
