Another sweet example of our AWESOME government at work

[rmilia1]

If it costs you 240% more to make something than its worth then you shouldnt be making it anymore. Thats pretty simple. If I owned a business that sold thingamabobs and I sold them for 10 dollars but paid 24 dollars to have them made then I am quite sure I too would be experience a deficit. LOL. Just make a shitload of dimes, those bad boys are worth 10 cents and only cost 7.8 cents to make. Thats a winner!!

[potzer25]

Making (literally) money is not a business. The true value of producing a penny is not the $0.01 face value that we assign to it when conducting financial transactions.

[rmilia1]

Originally Posted by potzer25

Making (literally) money is not a business. The true value of producing a penny is not the $0.01 face value that we assign to it when conducting financial transactions.

Thats just a bunch of jibber jabber potz. A penny is worth 1 cent period and it costs more than that to make it. "Value" is 1 cent, thats it. Doesnt matter how many times its used because we continue to produce them. Thinking like that is why we have a 15 trillion dollar deficit.

[Leader O'Cola]

Originally Posted by rmilia1

Thats just a bunch of jibber jabber potz. A penny is worth 1 cent period and it costs more than that to make it. "Value" is 1 cent, thats it. Doesnt matter how many times its used because we continue to produce them. Thinking like that is why we have a 15 trillion dollar deficit.

Awesome. Let's go with this line of thinking and .....do away with everything under $100 bills....

[rmilia1]

Originally Posted by Leader O'Cola

Awesome. Let's go with this line of thinking and .....do away with everything under $100 bills....

The only US currency that costs more to produce than it is valued at is the penny and the nickel. Thats it.

[olympicoscar]

This has been discussed before. Pennies should go the way of typewriters. Totally obsolete. One complaint against this argument is that business will round up the cost of the product say from 86 cents to 90 cents automatically. Then there is the problem of sales tax. That too might have to be rounded up or down.

[ckhokie]

Originally Posted by fordman84

it is a good idea, but taxes would F the whole thing up. I am going through this at work right now, stupid government regulation. We have to figure out how to figure in taxes for dynamic prices so that we can advertise nice even numbers. Not sure if it is the gov or our marketing dept that sucks the big one.

Companies and service providers know what the tax rate is, and the math isn't that hard where this should even be an issue. In europe, there were plenty of times restaurants or stores had prices like 1.92 for example that would round to 2 euros with tax.

[fordman84]

Originally Posted by ckhokie

Companies and service providers know what the tax rate is, and the math isn't that hard where this should even be an issue. In europe, there were plenty of times restaurants or stores had prices like 1.92 for example that would round to 2 euros with tax.

So you are telling me what "shouldn't" be an issues and I'm telling you what I and many MANY other college graduates are actually experiencing. Gov't meddling in the tax and advertising realm has created a huge issue for my entire industry.

There is so much more to it than knowing what the tax rate is. In an extremely competitive industry like mine the $.08 in your example would simply not work. Add in that there are not just local tax rates you need to know but tax rates for all states and in some instances you need to know the international tax rates, though for me right now international is not affected and only domestic is.

[ckhokie]

Originally Posted by fordman84

So you are telling me what "shouldn't" be an issues and I'm telling you what I and many MANY other college graduates are actually experiencing. Gov't meddling in the tax and advertising realm has created a huge issue for my entire industry.

There is so much more to it than knowing what the tax rate is. In an extremely competitive industry like mine the $.08 in your example would simply not work. Add in that there are not just local tax rates you need to know but tax rates for all states and in some instances you need to know the international tax rates, though for me right now international is not affected and only domestic is.

Woah easy sailor. I never said anything would be a cure-all. Obviously there are many extenuating circumstances and transactions, but for 90% of the cash transactions out there, change would be unnecessary. If the girl at Chipotle knows my burrito is going to cost $6.87 with tax before she rings it up, the price could be changed to compensate for the difference.

[fordman84]

Originally Posted by ckhokie

Woah easy sailor. I never said anything would be a cure-all. Obviously there are many extenuating circumstances and transactions, but for 90% of the cash transactions out there, change would be unnecessary. If the girl at Chipotle knows my burrito is going to cost $6.87 with tax before she rings it up, the price could be changed to compensate for the difference.

haha, fair enough. For simple point of sale transactions, it could be done. It wouldn't work for all products though, as we are finding out now. They do it for gasoline, where all taxes are already factored in so it is doable. I just think there would be some massive issues to work through in other pricing areas.