Quote:
Originally Posted by Mr. Ski
Just to be clear I appreciate the conversation and am not trying to be a wise-ass. It's all good. 
As you indicate, everything comes down to price-elasticity-of-demand. They charge $19.99 because that's how much they want to sell it for.
However, my point remains: does it really matter if the funky lamp ends up totaling $21.19 with tax (rounded up from $21.1894 to the nearest penny) or $21.20 (rounded to the nearest nickle)? I can't imagine you loose sleep over the current system where you're getting bilked out of $0.0006 here, or up to $0.004999999_ somewhere else.
Following the argument the other direction: What makes the penny the perfect place to stop the rounding. Would bringing in 1/2 or 1/4 or 1/10th penny coins make transactions more fair? In a sense, yes they would, except the modern world has decided that they aren't necessary to come to a fair & reasonable price for the goods and services we buy. Too much trouble for too little gain.
My point is only that the penny has moved into the same territory and in that regard, I don't care about the 4 cents IKEA might possibly gain even with advantageous rounding practices. That's all. |
Well not to be a wise-ass, but techincally the government takes the GST not the store. So the government is stealing that small percentage of a cent. But I am use to the government stealing my money so it's no skin off my back. But I understand your point.
Honestly if it came down to it and they abolished the penny I would not lose sleep over it. It's not that I am cheap, but I just don't like huge corporations taking my money for nothing.