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 Replies: 6 / Views: 1,461 |
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Pillar of the Community
708 Posts |
Well, the DCA guy I have been getting information from, has assigned a different DCA guy to answer any questions I might have, as he said this other guy that works for the coalition will know more about the issues than he ever will, and he said this other guy can answer my questions in a more timely manner.
Anyway, I have a couple tidbits that a few of you may know, and some of you may not:
The USA Act could pass as soon as October or November, but due to the uncertainty with Congress and their going to a 5 week recess, he is not totally sure if he can reply to my questions with the greatest of answers, which is understandable.
The $1 bill/dollar coin: If the USA Act passes, there will be a $1 bill "phase-out", which means there will STILL be at least a couple more years of $1 bill printings, NOT an immediate hault in printing.
The Cent & Nickel: If the USA Act passes, the Treasury will be given 5 years to find a way to mint cents and nickels out of cheaper materials than they are worth, which currently, is impossible for the cent, so it is probably history. If the nickel can't be made out of a cheap enough material, it is history too, but then, what happens to quarters...? (Maybe I'll have to ask the DCA guy what he thinks the government will do, to make change for the quarter)
Stay tuned...
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Pillar of the Community
1325 Posts |
plastic pennies and wooden nickels? I had just asked about the quarter if the nickel goes as well. What do you mean they have 5 years? so after 5 years the coins are just recalled yet it takes 10-20 years for some other things to happen that affect real people? This isn't like making a new series of coins, ending a coin hasnt been done since... well 100 years in this country, and lots of things have changed since! What are they going to do about taxes? Not income taxes, but sales taxes? I live where there is 2% food tax, that will have to be rounded up to 10%? So I need a head of lettuce for $1, I have to pay 8 extra cent because taxes and there is nothing lower? every grocery item will have to be round to the nearest dime and all taxes will have to be multiples of 10 cents? This is the problem nobody looks at or thinks about trying to get rid of the nickel or cent to save the country money at the costs of WE THE PEOPLE...you know the living humans that have to deal with this change not just some budget. or will food no longer be a taxable item? Or is the federal government going to start giving out food coupons to everyone to compensate for the 8% instant increase in taxes without an increase in minimum or an actual living wage?  Edited by shadz
08/04/2015 04:10 am
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Pillar of the Community
Germany
1062 Posts |
If you pay with a card, you don't have to round up.
Also, rounding up and down happens in a lot of places. Do you hear them going on massacres because they're angry? No, generally sometimes you'll win, sometimes you'll lose. You'll probably be about evens.
It might make you think about making a few purchases at the same time, ie, become a little more efficient if 2 cents is going to bankrupt you.
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Pillar of the Community
 United States
5828 Posts |
They should at least be able to make the cent for collector purposes.
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Moderator
 United States
187702 Posts |
Quote:
The $1 bill/dollar coin: If the USA Act passes, there will be a $1 bill "phase-out", which means there will STILL be at least a couple more years of $1 bill printings, NOT an immediate hault in printing. This is expected. No way they would just pull the rug out from under Crane. Give them time to shift from one dollar notes to two dollar notes. Quote:
plastic pennies and wooden nickels? Just to be clear: even if the material were free, it would still cost more than a cent to produce and distribute the cent. Inflation has made production of the cent irrevocably untenable. Quote:
What are they going to do about taxes? Not income taxes, but sales taxes? I live where there is 2% food tax, that will have to be rounded up to 10%? Again, just to be clear: SALES TAX WILL NOT BE ROUNDED UP. Sales tax is already rounded to the nearest cent (up or down), it is just as easy to round to the nearest nickel or dime. Failure to understand how this works does not make it any less true. There is no conspiracy here. |
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Moderator
United States
187702 Posts |
Quote:
This is the problem nobody looks at or thinks about trying to get rid of the nickel or cent to save the country money at the costs of WE THE PEOPLE...you know the living humans that have to deal with this change not just some budget. or will food no longer be a taxable item? Or is the federal government going to start giving out food coupons to everyone to compensate for the 8% instant increase in taxes without an increase in minimum or an actual living wage? Oh, brother. I really wish I knew how to explain it better, but I have come to realize that you do not get it and you never will. I just have to accept that and hope everyone else reading this thread will take the time to understand how losing the cent will not put them in the poor house.  |
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Moderator
United States
187702 Posts |
There are now three concurrent and related threads. I ask that we redirect attention and discussion to this thread... https://goccf.com/t/236555 |
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Replies: 6 / Views: 1,461 |
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Posted 08/04/2015 08:58 am
