Goodbye penny. Hello inflation?

I agree the penny needs to go but without the 1cent piece inflation can only move in increments of 5?
Maybe its just that we dont need any MORE pennies; plenty in circulation. Also tax will need to be adjusted to only be collected such that anything less than 5 or 10 cents are not calculated.
How thats gonna work? Idk. do you?

This page is a permanent link to the reply below and its nested replies. See all post replies »

Muthafukajones · 46-50, M

The penny was eliminated in Canada. The tax increments of say 6 and 7 percent remained the same. Cents are rounded up on bills so

1.27 become 1.30

But for credit card and bank transactions the exact amount is used.

walabby · M

@Muthafukajones In Australia 1.27 would become 1.25. 1.28 would become 1.30. I guess that Canada is just different...