Today is the last day of the Canadian penny
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02-06-2013, 12:33 AM
No Fun Shogun
Join Date: May 2011
Location: Shogunate of Nofunia
Originally Posted by
Bobby Ryan Getzlaf
Problem with your theory is, it doesn't exactly work like that. They can't just raise the price on a certain good and get it so it's in the round up column, different combinations will always add up different, and then you factor in taxes. Stores might increase the prices a bit to try and make up for any potential loss, but prices do go up(and it wouldn't be substantial) and there's not much else they can do otherwise.
Plus, obviously, this doesn't affect debit purchases whatsoever, which I would imagine are the majority now. All in all, this is probably pretty likely a non-factor.
Sure they can. Something costs $3.58? Now it costs $3.60. $10.51? $10.55.
They just do that for every single product. With taxes, it'd merely mean that the final price of everything you purchase might, by law, get rounded to the nearest nickle up or down, but the cost of everything could easily be just pushed up. Net gain all around. Especially if you go grocery shopping, could easily be talking about another .50 to dollar to your bill.
Not like it's going to break the bank, but neither is keeping the penny. And, as I said, I wouldn't be surprised if the cost to consumers well outweighs the money saved on removing the penny.
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