Posted on 01/22/2025 12:15:10 PM PST by Olog-hai
This isn’t DOGE’s sole agenda.
“If the penny goes away, will prices be rounded up or down to the nearest nickel?”
Pretty darn obvious round up!
no more $1.99 sales.
Going to make cash sales and sales taxes more interesting for states that have a sales tax expressed as a percentage of a sale.
I bought my wife a Toyota 4 runner. I went to write a check That I knew they would call and confirm funds, they said they only accepted checks up to $8,000, her 4 runner cost a lot more than that!
So I took the 4 runner for a test drive and obtained the rest of the car’s cost in cash including pennies from my credit union account(I don’t finance cars).
The dealer was lucky I didn’t clean out the Credit unions stash of pennies and dump it on the sales managers desk!
BTW pennies are not legal tender Per-Se so a seller can refuse to accept them.
The dealer was plainly upset that I paid cash and did not finance the purchase, That is where they make the real money. I paid too much for the car but used car prices (as in Edmunds) don’t apply in Hawaii.
I could have got the same vehicle in Oregon(no sales tax)
cheaper, but my airfare and car shipping would have made it virtually the same cost as here in Hilo.
No
The penny is too far
Maybe
A federal round up tax to a multiple of five cents is possible on all cash register sales.
To be implemented as soon as each retailer chooses.
Remember, it is not only the cost of minting, but also the cost of cashier time and the longevity of pants pockets.
$937.44 per week in 2025 dollars. $49K per year. For assembling cars that come back to life after sitting in a field for decades, too.
I think the federal government spends ~$18 billion/year on blood thinners.
If they were honest, they would take us back to when the Fed was created, and before the orgy of welfare, warfare and fiat money. That would require getting rid of all change and realizing that the Dollar is not worth much more than a penny back then.
Now when grandpa said he went to the movies with a dime and had popcorn, that’s why. When Abraham Lincoln once walked more than two miles to return six cents to a woman who overpaid for some merchandise she purchased... it was a decent amount of purchasing power when he was young.
I am fine with them ending the penny as long as it is used as a massive lesson in the devaluation of our money.
I’ve got some steel pennies made in the 40’s.
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Congratulations, Comrade. You can admit that you love Big Brother!
It’s been a colloquial nickname for ages. I don’t see any of those spare change cups at gas stations that say “Take a cent; leave a cent”.
This has been talked about by the US Mint since the 1980’s at least. I was involved in some minor subcontract work down at the Philadelphia Mint back then. They were saying then that they could shutdown one of the national mints if they eliminated the penny. Huge saving there. I don’t know how coining is distributed today, but back then it would have been the Philadelphia Mint that would have been on the chopping block.
"Despite bipartisan recognition of the penny’s costs since at least the 1970s, efforts to phase out or change the coin have repeatedly stalled in Congress, making it an ideal target for DOGE’s efficiency campaign."
The question remains, when are post-17th Amendment ratification voters going to support PDJT47 with a Constitution-respecting Congress?
Note that the states constitutionally required themselves to use only gold or silver coins.
"Article I, Section 10 Clause 1: No State shall [all emphases added] enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
Debit cards are practical imo. So amend Constitution to allow for debit cards.
And that 937.44 is in “2025 Dollars” only in one sense. The Fed loves to discuss and compare fiat dollars to a gold backed dollar. But that is not the full story. 30 dollars a week would have bought 1.5 ounces of gold every payday.
Today that stunt would set the worker back 4150 bucks.
The worker back then was able to be assured that money could not have it’s value inflated away.
That’s still way less value than when the phrase originated!
“For assembling cars that come back to life after sitting in a field for decades, too.”
Ain’t that the truth? Fast forward 90 years and try that with a car from today.
Get rid of the nickel too and just drop the last digit off of the currency. Today’s 1¢ is only worth 0.03¢ in 1913.
The REAL problem is the cost of a dollar... a dollar costs $0 to make. For REAL DOGE priorities, a dollar should cost MUCH MORE to make - something like some weight in gold or silver.
Once that is done, the cost of making a penny will sort itself out.
Band of Brothers - You got the penny?
https://www.youtube.com/watch?v=OJ4o5nwbAN8
I knew a guy in the 80s who hated pennies so much, every night he’d just throw them down the hall of the hotel.
I’ve said for years that any c-store that rounded to the nickel would most likely end the day no worse than a nickel off. I did have one store near me that did that, but I never checked back to see if my theory was correct.
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