In my opinion, they aren't very useful. People almost never use them and they are getting expenisve to make. Can someone give me any valid reasons why the penny should not be eliminated?
2007-12-18 12:33:57 · 15 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
why not get rid of all coins ??
they all are expensive to produce. how much would that save us? if you can justify getting rid of pennies the same justification could be used to get rid of all the coins. we could just have 1 dollar as our smallest denomination.
2007-12-18 12:55:38 · answer #1 · answered by michr 7 · 1⤊ 0⤋
Because then it will be difficult for state governments to have incremental sales tax rates. Their only option would be 0 like in Delaware, or 5 or 10 percent. Maryland is about to go from 5 to 6 percent, how could they do it without pennies? And as much as people in Maryland love being taxed (they really do seem to), I think even they would complain about a 10% sales tax.
2007-12-18 12:39:00 · answer #2 · answered by Yo it's Me 7 · 1⤊ 0⤋
Because it would be harder to pay tax, it would be harder to buy things worth like... $5.86, you nedd a penny for that. Also what is fun to do with pennies is... Before a train comes, stick a penny right on the railroad track, when a train comes it'll run over it. It looks so cool after that, a squashed penny! Me and my Dad used to do that all the time! Hope this helps.
2007-12-18 12:43:43 · answer #3 · answered by Anonymous · 1⤊ 1⤋
Within a few years, we will get to the point where it costs the mint more than a cent to make a penny. At that point, it will go.
This exact thing happened to the half-cent coin a while back.
2007-12-18 12:43:02 · answer #4 · answered by Anonymous · 1⤊ 0⤋
If we don t have the pennies, then prices are going to raise in my opinion
2015-02-03 15:44:42 · answer #5 · answered by Linh 1 · 0⤊ 0⤋
ONE
I know plenty of people who use them when a price calls for it. I find that the choice to not use them is generally lazy thinking.
TWO
It would be horrendously costly for every business in our economy to recalculate all their prices to round to a nickel, even when they're factoring in sales taxes.
THREE
There's a simpler solution than eliminting pennies. It drives me nuts that I never hear anyone in power suggesting this one. We should just stop manufacturing pennies. That's all. No elimination, no revision of pricing, no big deal. The pennies we have would slowly faze out as old ones are disguarded and lost. At the same time businesses would slowly adjust to the slowly decreasing presence of pennies in their customers' pockets.
-Glenn O.
2007-12-18 13:00:03 · answer #6 · answered by Glenn O. 2 · 0⤊ 3⤋
Some people won't pay $300.00 for something but will pay $299.99 for the same item. For the same reason gas is 2.839 cents a gallon and we don't even have a 1/10 cent coin.
2007-12-18 12:43:51 · answer #7 · answered by roadrunnerjim 6 · 0⤊ 1⤋
if we didn't have the penny, everything would have to be bought or sold in increments of 5 cents.
And you just know the government and big business would 'round' UP/
2007-12-18 12:40:13 · answer #8 · answered by Anonymous · 1⤊ 0⤋
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2016-06-25 12:48:19 · answer #9 · answered by Dianne 3 · 0⤊ 0⤋
No, in economic terms they should probably go.
There's a really funny Westwing Episode about that though.
2007-12-18 12:40:42 · answer #10 · answered by Beardog 7 · 2⤊ 0⤋