Kill The Penny
I am anti-penny. Big time. I won’t hide it. In my communication class in 1994 at the esteemed UW-Oshkosh I spoke of such a thing. It was my finest hour as a student. Wow, that’s brutal.
It costs the government MILLIONS to make it. With inflations rates and today’s economy it is less than worthless. Literally.
Now Canada announced they are killing the copper burden. Canada is now passing the USA in such great ideas. Gosh dang we are losing our foothold people. What next? Canada is going to go to Mars before us? Quit watching hockey? Canadian football will take over the NFL?
Gosh dang. Check out the numbers.
As of 2012, it costs the U.S. Mint 2.41 cents to make a cent because of the cost of materials and production. The loss in profitibility due to producing the one cent coin in the United States for the year of 2011 is $60,200,000. This is an increase from 2010, the year before, which had a production loss of $27,400,000.
For the trillion gazillion dollars federal government I realize this is literally pennies, but it’s a start. We need to make smart cuts.
Here are reasons people want to keep them: From a blog by Stan Collander.
This story by Karen Weise in Bloomberg Businessweek explains some, but not all, of the reasons the U.S. won’t soon follow the Canadians and do away with its own penny even though the budget savings would be considerably greater. Some additional things to consider:
- Dollar bill supporters — especially those who sell the paper to the government on which the bills are printed — will look at a successful penny elimination as a precursor to the elimination of the $1 greenback. Keeping the penny, therefore, will be part of their strategy to convince Americans that there should be no change in their change.
- Abraham Lincoln is on the penny, Lincoln was from Illinois, and Illinois is a critically important state in U.S. elections. Neither political party will want to be blamed for what many in the state will consider massive disrespect.
- Does anyone seriously think that former Illinois Senator Barack Obama will allow anyone to disrespect Lincoln?
- There will be too much outcry about the possibility of businesses always rounding up instead of rounding to the closest five cents. That will make the decision to eliminate the penny appear to be anti-consumer.
So we are keeping the son of a bitch to honor Lincoln? To not offend Illinois jag offs? Because U.S. consumers and businesses are too stupid to round up and down?
Are you shitting me?
No one uses the penny, no one gives a shit about the penny.
Oh, and some economists figure the labor time savings for making change with pennies is about 1 billion dollars ANNUALLY. Somewhere Walmart and McDonalds are smiling.
Fuck you penny. Fuck you.
– Roste Beefe