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Old 02-06-2018, 06:51 AM
 
Location: Texas Hill Country
8,857 posts, read 4,826,319 times
Reputation: 7680

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Quote:
Originally Posted by robr2 View Post
.......IMHO, we should eliminate the penny and round all sales up after tax to the nearest nickel and use that extra money to fund education in each state. Further, eliminate the dollar bill, replace it with the dollar coin, and bring the $2 bill back into circulation. The last item eliminates the complaint of having to carry too much change and doesn't force changes in cash register drawers.
Rather reminds me of what a friend suggested the other week that instead of a wall, use the $25 billion to fund education.

The catch is, tax money like that, it in billions or small change (sorry, couldn't resist) isn't free. It's the ability for the Feds to tell the states what they will do.

Ie, you want our money? Then you must do "this", such as, say, the Feds saying you will not legalize "grass". Now, I don't know where various people stand on that subject and here, I don't care, but given what the Feds have done in the past, it wouldn't surprise me if they went for such a "bribe".

Be careful what you wish for and remember when it comes to tax money, it is never free.
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Old 02-06-2018, 06:56 AM
 
9,307 posts, read 11,142,948 times
Reputation: 12472
Quote:
Originally Posted by engineman View Post
When there is both paper and coins, no one wants the coins. It has to be one or the other.

Canada has been using coins for years.
I bought something in a vending machine (thinking it was stamps) and got the change in 1$ coins......yeah I was pissed after putting a $20 bill in there
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Old 02-06-2018, 06:58 AM
 
Location: Raleigh
6,965 posts, read 5,187,171 times
Reputation: 9400
Its been tried before and failed. It won't work because people like their dollar bills.
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Old 02-06-2018, 06:59 AM
 
7,050 posts, read 3,701,331 times
Reputation: 10061
Quote:
Originally Posted by Lowexpectations View Post
You do understand this isnít a liberal conservative issue right? Itís about cost of keeping physical notes vs coins. The reason itís not been better adopted is because youíve had an option, if they would do away with the dollar notes you wouldnít have a choice. Plenty of other large developed countries have eliminated it and donít have an issue surviving
If the people have two options and almost universally choose one over the other, how is it a good thing to eliminate the popular option and mandate the unpopular one just because a samall group of elitists know better for all of us what is in our own best interests? Who wants to live in a world like that?

Maybe tofu would be more popular if we banned meat and removed those competing options? I bet people would still find a way to survive so it must be a good idea, right?
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Old 02-06-2018, 07:02 AM
 
Location: USA
13,345 posts, read 7,290,471 times
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Quote:
Originally Posted by kyb01 View Post
I know a lot of people, usually under the age of 30, who never use cash money. All of their daily financial transactions occur via their phones or cards. There's a coffee shop in Center City Philly that does not accept cash. As time goes by more businesses will move into this direction.
Probably, however, a lot of small businesses love cash for tax reasons. I just hate change. I don't use it anymore, and when I do get change, I throw it in a jar, and then when the jar is full I cash it in for real money.
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Old 02-06-2018, 07:20 AM
 
Location: Starting a walkabout
1,738 posts, read 800,293 times
Reputation: 1913
Quote:
Originally Posted by Lowexpectations View Post
I don’t particularly care for coins but from a durability and economic standpoint they make sense. Seems a large amount of the world makes it work so I don’t think the burden would be too great
Twenty or thirty years ago coins made sense. Now we are moving to a cashless society with payment by cards and smartphones. Other than money for tips, and paper bills for trips abroad like Panama which uses dollars, I have not used paper or coin money in the past few years. Even subway tickets are via CC. It makes no sense for a major change to coins when in 10-15 years we will be hardly using either paper or coin currency.
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Old 02-06-2018, 09:04 AM
 
364 posts, read 195,188 times
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As paper bills, coins, and neanderthalic checks alike are being or have been replaced in developed and leapfrogging nations and gradually go by the wayside in the U.S. ........ how much will it truly matter?
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Old 02-06-2018, 09:20 AM
 
17,624 posts, read 12,203,533 times
Reputation: 12858
Quote:
Originally Posted by oceangaia View Post
If the people have two options and almost universally choose one over the other, how is it a good thing to eliminate the popular option and mandate the unpopular one just because a samall group of elitists know better for all of us what is in our own best interests? Who wants to live in a world like that?

Maybe tofu would be more popular if we banned meat and removed those competing options? I bet people would still find a way to survive so it must be a good idea, right?
Does the government provide everyone with meat or tofu for that matter? Terrible example. How is it elitists to replace a small bill with a coin when it would save the government money?
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Old 02-06-2018, 09:23 AM
 
17,624 posts, read 12,203,533 times
Reputation: 12858
Quote:
Originally Posted by kamban View Post
Twenty or thirty years ago coins made sense. Now we are moving to a cashless society with payment by cards and smartphones. Other than money for tips, and paper bills for trips abroad like Panama which uses dollars, I have not used paper or coin money in the past few years. Even subway tickets are via CC. It makes no sense for a major change to coins when in 10-15 years we will be hardly using either paper or coin currency.
Per the department of Treasury in 2014 they produced 6.6 billion notes in that fiscal year or 25mm notes a day. It still matters and will for long into the future unless you force the elimination of physical currency
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Old 02-06-2018, 09:55 AM
 
Location: Starting a walkabout
1,738 posts, read 800,293 times
Reputation: 1913
Quote:
Originally Posted by Lowexpectations View Post
Per the department of Treasury in 2014 they produced 6.6 billion notes in that fiscal year or 25mm notes a day. It still matters and will for long into the future unless you force the elimination of physical currency
1. That was 2014. Wonder what it is in 2018 and what is the trend.

2. How much of those notes are to replace worn out / removed from circulation notes and how much is fresh infused cash.

3. How much of it is in circulation in USA and how much is used in other countries that use US dollars as its currency and nations that hoard the dollars in their vaults.

Cash will still be there 10 or 20 years from now but will be a very small amount of all transactions.
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