September 1, 2006
IT'S A START:
The Imperiled Penny: Congress is considering a bill that would kill off the 1-cent piece. Has the penny become more trouble than it’s worth? (The Week, 8/25/2006)
Many Americans don’t even view pennies as currency anymore, taking them only reluctantly in change and then dumping them in jars or desk drawers at home. An estimated $10.5 billion in pennies, or $93.75 per household, sits idle in piggy banks, purses, and behind sofa cushions. Anti-penny advocates also argue that the mere existence of a 1-cent coin costs U.S. companies more than $300 million a year in lost productivity—mostly from the time and effort spent counting out pennies during purchases and the cumbersome task of putting them into paper rolls for bank deposits.
Why have any actual currency anymore? The idea of money suffices. Posted by Orrin Judd at September 1, 2006 11:30 AM
Because you can't stick the idea of money into an exotic dancer's thong?
Posted by: Brandon at September 1, 2006 12:10 PMYou can always let the stripper have a limited reign of your credit card.
Posted by: Brad S at September 1, 2006 12:22 PMI agree the penny should be abolished if every time when the dreaded pennies come up we have a round-down to get rid of the pennies. In any case, the reason the pennies come up in a sale is the sales tax. E.g. a $2.50 item will be
Posted by: ic at September 1, 2006 1:56 PMI agree the penny should be abolished if every time when the dreaded pennies come up we have a round-down to get rid of the pennies. In any case, the reason the pennies come up in a sale is the sales tax. E.g. a $2.50 item with a 7.5% sales tax will be $2.69, the dreaded 4 pennies again. When we get rid of the sales tax, we can get rid of the penny.
Like most things, politicians create the problems, then they propose to solve them. For some reasons, these solutions are always detrimental to the people. (Sorry for hitting the post button before the comment is done.)
Why have any actual currency anymore? The idea of money suffices.
We now know who doesn't handle the family finances.
(And why stop at the penny? Get rid of Jefferson too and just have all prices to the nearest dime.)
Posted by: Raoul Ortega at September 1, 2006 4:36 PMAh,
Fondly reminds me of the only "A" I ever got in an Econmics class, early-60's,(yes, we pe-boomers are still alive and well), wherein I convincingly, at least to my professor, argued against the "gold standard".
The halcyon days of youth, if only?
Mike
BTW, my world class ribs are now announcing their doneness, so, adeu my friends, adeu.
Mike