Save the Penny!
Representative Jim Kolbe wants to remove pennies from circulation. Educate yourself
Now, the logical argument presented is that it costs more to make a penny than the penny is worth. Theoretically, we could just buy rolls and rolls of pennies and melt them down in our basement smelters and sell the bars of copper and zinc.
Copper is rather expensive due to some labor disputes in Mexico. China also buys quite a bit of scrap metal, which drives up the price of copper and zinc.
Before you start building that basement smelter, let me remind you that defacing US currency is a crime.
We're going to have a new fancy penny for the 200th birthday of Abraham Lincoln.
As he abolished slavery, so shall the penny be abolished?
There are many arguments for and against pennies. I still stop to pick them up when I find them on the street. I still use them to give exact change. Part of that obsessive-compulsive impulse is because I know that if I horde my pennies, the Mint will have to make more, which costs us all money.
Make the penny smaller or out of a different metal? Sure.
If the penny is to be removed from circulation, I say we eliminate it passively by putting rounded, after-tax prices on goods, like in Europe. Pennies would still be accepted currency, but it would work like this. You go to by a gyros, and the price on the menu says $4.00. You then go the register to pay, and you give her $4.00, not $4.32 or whatever added sales taxes are placed on goods and services in your locality.
Eventually, there would be no pennies circulating. It would take a long time, but there's no rush.
Maybe we could force W to collect pennies to fund his war in Iraq.
Now, the logical argument presented is that it costs more to make a penny than the penny is worth. Theoretically, we could just buy rolls and rolls of pennies and melt them down in our basement smelters and sell the bars of copper and zinc.
Copper is rather expensive due to some labor disputes in Mexico. China also buys quite a bit of scrap metal, which drives up the price of copper and zinc.
Before you start building that basement smelter, let me remind you that defacing US currency is a crime.
We're going to have a new fancy penny for the 200th birthday of Abraham Lincoln.
As he abolished slavery, so shall the penny be abolished?
There are many arguments for and against pennies. I still stop to pick them up when I find them on the street. I still use them to give exact change. Part of that obsessive-compulsive impulse is because I know that if I horde my pennies, the Mint will have to make more, which costs us all money.
Make the penny smaller or out of a different metal? Sure.
If the penny is to be removed from circulation, I say we eliminate it passively by putting rounded, after-tax prices on goods, like in Europe. Pennies would still be accepted currency, but it would work like this. You go to by a gyros, and the price on the menu says $4.00. You then go the register to pay, and you give her $4.00, not $4.32 or whatever added sales taxes are placed on goods and services in your locality.
Eventually, there would be no pennies circulating. It would take a long time, but there's no rush.
Maybe we could force W to collect pennies to fund his war in Iraq.
posted by Corporal at 2:50 PM
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