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Started By
Message
A bill is laid on your desk...
Posted on 12/16/14 at 1:34 pm
Posted on 12/16/14 at 1:34 pm
Stopping production of the $0.01 coin known as the penny. Transactions will be rounded to the closest nickel (down or up).
How do you vote on the bill?
How do you vote on the bill?
21
Posted on 12/16/14 at 1:35 pm to CapitalCityDevil
Sounds good
Posted on 12/16/14 at 1:35 pm to CapitalCityDevil
against
Posted on 12/16/14 at 1:35 pm to CapitalCityDevil
I'm no economic scientist or nothin but I would wonder why we are fricking with the penny when we are 18 trillion in debt.
Posted on 12/16/14 at 1:37 pm to CapitalCityDevil
Put it right by the Keystone XL bill and pretend I don't see it.
Posted on 12/16/14 at 1:39 pm to kingbob
quote:
against
Posted on 12/16/14 at 1:42 pm to CapitalCityDevil
I sign that motherfricker, then head to the golf course
Posted on 12/16/14 at 1:44 pm to CapitalCityDevil
Definitely in favor of stopping penny production, although I'm not sure you could legally require vendors to round up or down as you suggest. Vendors don't have to accept cash at all if they don't want to.
Posted on 12/16/14 at 1:44 pm to CapitalCityDevil
Sign it. The market inefficiencies that the move would introduce are negligible.
This post was edited on 12/16/14 at 1:45 pm
Posted on 12/16/14 at 1:45 pm to jamboybarry
can i pencil in the nickel and dime too?
Posted on 12/16/14 at 1:49 pm to hashtag
quote:
can i pencil in the nickel and dime too?
You may introduce an amendment to the bill.
Posted on 12/16/14 at 1:51 pm to CapitalCityDevil
Costs 5 times as much to manufacture a nickle as it does a penny, and a nickel is worth five times as much as a penny, plus there are a kazillion pennies out there already, so all in all I'd probably just flip a coin ...
Posted on 12/16/14 at 1:58 pm to hashtag
quote:
can i pencil in the nickel and dime too?
That would require too much rounding and inefficiency in pricing.
Anyway, the nickel costs about 18 percent more to produce than it's worth (the penny costs nearly 80% more) and dimes are worth far more than their production costs.
Posted on 12/16/14 at 1:59 pm to CapitalCityDevil
sign it
Posted on 12/16/14 at 2:06 pm to Navytiger74
quote:
Anyway, the nickel costs about 18 percent more to produce than it's worth
It's actually 60% more for the nickle, not 18%. The penny costs 70% more than its value.
Posted on 12/16/14 at 2:07 pm to CapitalCityDevil
Amend the bill to include a structured, semi-balanced budget.
Include the nickel to be done away with as well.
Round up to the nearest .10.
But the extra money towards paying down debt or infrastucture.
Become the most admired man in US History.
Include the nickel to be done away with as well.
Round up to the nearest .10.
But the extra money towards paying down debt or infrastucture.
Become the most admired man in US History.
Posted on 12/16/14 at 2:08 pm to CherryGarciaMan
CherryGarciaMan 2016!
Posted on 12/16/14 at 2:09 pm to CapitalCityDevil
against
Posted on 12/16/14 at 2:11 pm to CapitalCityDevil
You would frick up tax rates on the State and local level alllllll across this country. Against.
Posted on 12/16/14 at 2:11 pm to NHTIGER
quote:
It's actually 60% more for the nickle, not 18%.
It flucuates with the cost of copper and nickel, and the figures I read placed it at 5.89 cents to produce a nickel. It was as high as 10 cents as of 2012, so I imagine it bounces around quite a bit.
The differences in the value of the penny are negligible, but the point stands. It serves almost no purpose in the system.
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