Wednesday, November 01, 2006

Zero Dollar Bill

U.S. Treasury Department spokesman Wright Fonteccio announced today that the US Federal Reserve will begin printing dollar bills in the denomination of $0. Purchases less than $1.00 will require the use of the new denomination. For example, a muffin that retails for $0.75 will require payment of one $0 bill plus 75 cents in coins.


Blogger Lew said...

This is because it's much harder to track the usage of change. A $0 bill is much like a receipt for a transaction. What it all boils down to is the IRS wants to be able to track pocket change. Have you ever saved pocket change for years? You end up with hundreds of dollars worth. The IRS wants a third of it, a third of everyone's. They estimate it will add $390 billion to the tax rolls.

8:24 PM  
Blogger LeoBro said...

Lew, you're right! I bought a latte today for $4.32 with a five dollar bill. For change they gave me 68 cents plus a zero dollar bill. I know the IRS is tracking that zero dollar bill, so now they know I have change.

Devious, isn't it! They know that for every zero dollar bill you have, you have on average fifty cents in change that they can tax you on.

1:57 PM  

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