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re: A bill is laid on your desk...
Posted on 12/16/14 at 2:13 pm to CapitalCityDevil
Posted on 12/16/14 at 2:13 pm to CapitalCityDevil
Conspiracy theory side...
It is just a way that the NWO will start taking away hard (tangible) money away from the public so that the financial elite can keep playing video games with virtual money and eventually enslave the people.
It is just a way that the NWO will start taking away hard (tangible) money away from the public so that the financial elite can keep playing video games with virtual money and eventually enslave the people.
0
Posted on 12/16/14 at 2:13 pm to jamboybarry
quote:
I sign that motherfricker, then head to the golf course
Ah yeah! Just hit my Mizuon MP-54s for the first time today. Butta'
Posted on 12/16/14 at 2:27 pm to Navytiger74
quote:
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.
My figures are from yesterday's Wall Street Journal.
LINK /
"A new report shows the cost to produce a penny was 1.7 cents in the 2014 fiscal year. That’s down from 2.4 cents in 2011 but still more than face value."
"The nickel, too, is dead weight for taxpayers. Production costs stood at 8 cents last year, down from 11 cents."
So that 60% I stated (as opposed you your 18%) is significantly DOWN from previous costs.
Posted on 12/16/14 at 2:43 pm to NHTIGER
quote:
"A new report shows the cost to produce a penny was 1.7 cents in the 2014 fiscal year. That’s down from 2.4 cents in 2011 but still more than face value."
"The nickel, too, is dead weight for taxpayers. Production costs stood at 8 cents last year, down from 11 cents."
So that 60% I stated (as opposed you your 18%) is significantly DOWN from previous costs.
Cool. Good data.
Posted on 12/16/14 at 2:46 pm to Navytiger74
Every municipality in the union would have to change their tax rates to say 10% across the board. Huge fricking undertaking
Posted on 12/16/14 at 3:23 pm to CapitalCityDevil
But what would become of the phrase "just my two cents"?
Posted on 12/16/14 at 3:37 pm to Broke
quote:
Every municipality in the union would have to change their tax rates to say 10% across the board. Huge fricking undertaking
not at all, credit cards could still be charged for pennies. just cash would be rounded.
I think its a fabulous idea but I would raise it to manufacture only .25 and $1 coins.
Posted on 12/16/14 at 3:41 pm to fillmoregandt
I'd probably sign it....lost over $105 million making pennies and nickels last year. I'd also sign a bill to eliminate the postal service waste. Only a basic stamp would be produced, no mail on weekend, and if you want to mail junk mail, you are gonna pay out the arse. If the postal service couldn't run with a profit within 5 years, shut the whole thing down.
Posted on 12/17/14 at 6:50 am to Broke
quote:
You would frick up tax rates on the State and local level alllllll across this country.
How?
The bill is only talking about production of physical coins, not the concept of a cent.
quote:
Every municipality in the union would have to change their tax rates to say 10% across the board.
Nope, they would not. There's still nothing stopping you from writing a check for $300.01. You just wouldn't be able to physical hand over that penny.
This post was edited on 12/17/14 at 6:52 am
Posted on 12/17/14 at 8:14 am to CapitalCityDevil
It would depend on whether one of my political contributors was involved in mining or refining zinc. Doesn't matter whether it makes financial sense for the country. 
Posted on 12/17/14 at 8:19 am to CapitalCityDevil
I like it. Costs 1.8 cents to make the penny. Furthermore, unless they can start the proposed zinc-steel combo to making the nickel, which costs 9.4 cents to make, then it can go as well.
Posted on 12/17/14 at 8:41 am to CherryGarciaMan
quote:
But the extra money towards paying down debt or infrastucture.
So a tax that isn't a tax? No thanks. Just how would that figure in when filing tax returns?
Posted on 12/17/14 at 8:47 am to CapitalCityDevil
Just what we need, more legislation that doesn't address a serious problem. 
Against.
Against.
Posted on 12/17/14 at 8:51 am to CherryGarciaMan
quote:
But the extra money towards paying down debt or infrastucture.
So a tax that isn't a tax? No thanks. Just how would that figure in when filing tax returns?
Posted on 12/17/14 at 9:42 am to Homesick Tiger
First off, why do we still need to "produce" pennies? Seems like there are enough in circulation already.
quote:
Current estimates by the U.S. Mint place the number of pennies in circulation at around 140 billion. Others have estimated as many as 200 billion currently circulating
This post was edited on 12/17/14 at 9:48 am
Posted on 12/17/14 at 10:12 am to foshizzle
quote:
Nope, they would not. There's still nothing stopping you from writing a check for $300.01. You just wouldn't be able to physical hand over that penny.
Because they aren't making the penny? What in the frick?
You want us to spend money they aren't making. Weird.Posted on 12/17/14 at 10:15 am to CapitalCityDevil
I am for removing the penny. But, let the people accepting the money decide what amount they accept. They could go up or down to make the transaction work. If people don't like it they can go to another vendor.
Posted on 12/17/14 at 10:22 am to lsu13lsu
why is no one commenting on why our money is losing so much value? The difference between the cost of the penny and production is meaningless when compared to the inflation/stimilus tax and the lost interest income and inflation.
Inflation is the stealth tax and the worst tax of all.
Inflation is the stealth tax and the worst tax of all.
Posted on 12/17/14 at 10:26 am to CapitalCityDevil
quote:
Stopping production of the $0.01 coin known as the penny.
Does not require
quote:
Transactions will be rounded to the closest nickel (down or up).
There are enough pennies in circulation already and people don't use them. No need to round prices as most people will pay eletronically. Just stop producing them and wasting money. (same for nickels and dimes)
This post was edited on 12/17/14 at 10:27 am
Posted on 12/17/14 at 10:29 am to NHTIGER
quote:
so all in all I'd probably just flip a coin ...
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