Posted on 02/13/2009 7:48:07 AM PST by lakeprincess
The minting of 4 new Lincoln cents has got the anti-penny crowd in an uproar - complete with civil disobedience calling for the end of penny use. They're vexed at the "zinc lobby."
(Excerpt) Read more at washingtontimes.com ...
This year’s Medicare budget is 12.9 BILLION dollars. Or a little over 50 times that much. And it’s 100% unconstitutional.
I completely agree! But, I like to save wherever possible, and shredding money is incredibly wasteful. You never have to carry more than 4 dollar coins anyway. The next increment is the $5 bill in your wallet. 4 coins don’t make my pants sag.
All the Lincoln haters here on FR would probably like to get rid of the penny.
As saving money goes though this is nothing. Medicare is more this year than we’ve spent printing 1s since Ike was president.
YOU might never carry more than $4 in singles, I do. 1s are more useful than 5s, a lot of vending machines don’t do 5s. Dollars coins stink. They’re heavy, they’re inflexible, coins in general don’t sort easily. Paper money is better for everybody except the government, and they work for us.
Additionally, they'll be a de-facto sub money in accellerated inflation as their value will rise rapidly. Just look to the scarcity of coinage circulating at "face" value in Zimbabwe for an example...
The best arguement for keeping the penny is that apparently that dim bulb Katie Couric thinks it's a good idea to ditch it, that's a counter trend signal if there ever was one...
“It is long past time to dump the penny”
It’s long past time to declare KarlInOhio a useless eater!
We’d probably be able to round down too... I don’t see it happening politically otherwise, this would be a tax that hurts the poor more than the rich!
I guess we have to agree to disagree. You’ve made your points, I’ve made mine. You like the convenience, I dislike the waste. Gotta go do my daily stuff at the water company. Got a Hipshot to install this pm. Later!:)
This may be good time to revalue the currency, 1 for 10. A dime would buy what a dollar did. COPPER Would be 20-30 cents/lb. and you cold make several hundred of them out of a pound.
A penny saved is... pointless when the Democrats are kicking 100 trillion of them back to their handlers.
Nice try, but a real Obama penny would say “In Change We Trust”
I understand that, but this is government we are talking about. The tax will never go away and only increase. It will start out as smaller numbers of course. I don’t know too many retail establishments with auto matic rounding machines either. They shouldn’t be needed but...
I have the same problem. We've go to work on the comprehension part of our speed reading skills.
Why would you pick pennies up off the ground and deprive some lucky young child of found treasure?
I rarely pick up anything less than a quarter.
Given the sorry condition of the US dollar, caused by reckless politicized inflation since FDR, one option to consider would be what is called in the stock market a “reverse split”, or roll-back, in which for example, 10 old shares become 1 share of ‘Newco’, as it’s generically termed. This re-structuring allows the suddenly lean company to recapitalize through the issuance of new shares from treasury.
Similarly, the US Government could roll back the currency on a 1 for 20 basis, producing a US NewBuck. Existing statutes and contracts would be adjusted, and life would go on.
Under this new currency regime, silver coinage could be re-introduced, and a new respect for the copper penny!
It would be restorative to once again see goods advertised at “Three for a Penny”.
Just kidding of course - since there is no political reward in implementing a ‘hard money’ policy, the monetary system is unreformable, and can only end in the usual way - badly.
The place I pick up most of my pennies (in front of a store next to my apartment/business) is frequented by kids who drop most of the pennies, they won't pick them up.
Every time I see a penny on the ground I pick it up its MONEY for goodness sake.
I put them in my big jug at home and take the coins to the bank every January.
Just cause.
They are talkin about you again!
I think you make sense.
Actually Pennies make cents....
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