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Why I Hate Pennies, and You Should Too

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by

Hayley Bermel

on 21 November 2013

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Transcript of Why I Hate Pennies, and You Should Too

Why I Hate Pennies, and You Should Too
Three Main Arguments:
Getting rid of pennies won't make any difference economically
Let's look at prices, now.
How Can We Help?
Contact your congressmen! Support and push for legislation in that stops the minting of more pennies!
This is a penny. It is a coin worth one hundredth of a United States dollar.
At least, that's what we've always been told
.
You see, pennies are life ruiners.

They ruin people's lives.
Pennies are a source of national pride and have sentimental value!
Getting rid of pennies would increase our prices
Each penny costs two cents to make.
This, fiscally, converts to 1.2567 chainz.
In 2008, the USA spent $70 million tax dollars to subsidize the minting of pennies.
In terms of opportunity cost, the time Americans spend fiddling with pennies is worth a billion dollars a year.
Pennies are a national treasure! We could never get rid of a coin!
But we have gotten rid of small denomination coins before.
There was once a coin called the half-penny in the United States, and it was scrapped in 1857.
The results of that were:
A stronger economy
Less wasteful use of metals
Less inflation
Some radicals believe that there would be economic chaos if we got rid of the penny.
Not America/Canada
Canada is very similar economically to the US, and just got rid of their penny.
Since doing this, their economy has not taken a hit, taxes have not skyrocketed, and they continue to be in better economic standing than the US.
1 slice= $1.97
Push for the removal of zinc from pennies, and the replacement to be steel, a much cheaper resource.
Or my favorite option:
Find that fountain from The Lizzie McGuire movie and throw pennies in there, and your wish can be that people stop minting pennies. It's twice as effective.
That was silly, wasn't it?
Citations
Green, Hank, and John Green, prod. I HATE PENNIES!!!! (Also Nickels.). Narr. John Green. Youtube, 2010. Web. 12 Nov. 2013. <

Headley, Susan. "The Penny Debate- Should We Keep the Penny, or Get Rid of It?." N.p., n.d. Web. 13 Nov. 2013. <http://coins.about.com/od/uscoins/i/penny_debate.htm>.

McDonald, , and Misner. "A penny-less Canada: How getting rid of the penny makes cents for you." Golden Girl Finance. N.p., 23 Apr. 2012. Web. 13 Nov. 2013. http://www.goldengirlfinance.com/inspiration/?post_id=306

Miniter, Frank. "What President Obama Doesn't Want You To Know About Canada." Forbes. Forbes Magazine, 24 July 2012. Web. 13 Nov. 2013. <http://www.forbes.com/sites/frankminiter/2012/07/24/what-president-obama-doesnt-want-you-to-know-about-canada/>.

Vanderborg, Carey. "Phasing Out the Penny: Will the United States Get Rid of the One-Cent Piece? ." International Business Times. N.p., 4 Feb. 2013. Web. 13 Nov. 2013. <http://www.ibtimes.com/phasing-out-penny-will-us-treasury-get-rid-one-cent-piece-1060534>.
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