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Originally Posted by Gatorade Frost
Edit - Why do we need the penny? It seems to me like it's only around thanks to 14.99 pricing instead of 15.00, and if you factor in taxes around 10% or so there wouldn't be a need for pennies, and when you're making big transactions you generally don't pay for it in physical cash, you wire the money via banks.
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in a lot of states, the sales tax isn't a 'round number', take the state of new jersey, where the sales tax is 7 percent... a 1 dollar item would be 1.07 - a 2 dollar item is 2.14 --so do you round up or round down - eventually it'd all even out - but i know a bunch of thrifty types who'd be peeved at continually losing that 1 penny on the round ups..