Treasury Department set to phase out the penny

[stopdiggin]

15. no it won't.

your 6% sales tax - will still be calculated at - 6%. And, guess what - there was already a 'round up' factor built into the way sales tax works. Depending on where they 'draw the line' - 83 cent purchase, 5 cents tax - 84 cent purchase, 6 cents tax. (meaning you're paying an extra penny, regardless of how much you have spent between 84 cents and a dollar!) Rip off! Except - nobody cares, or even notices. And, as the basket of purchases grows larger - with the vast majority of purchase well exceeding a couple of dollars - any 'rounding' done becomes smaller - and smaller, and smaller.

And your 'cashless' transaction - either online, or when you 'tap' your chip at the debit reader (again, the very large majority of what happens today) - will vary not at all. With your bank recording that cup of coffee you purchased - at exactly the same $4.83 that it was the day before. Not a penny more, or less.