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http://money.cnn.com/2006/07/18/news...ex.htm?cnn=yes
Pennies now cost the government more to make than they are worth. 1.4 cents to be exact. Some people are calling for the death of pennies.
Right now I happen to believe it should. I mean, do we really need this coin anymore?
No. I've been saying this for a while. Ever since tollbooths stopped accepting pennies it was time for them to go.
I wonder why there is fear about converting entirely to a digital money system. It has to be cost-effective at this point.
A major downside would be that all the digital money would be handled by the government or somesuch agency, you couldn't just stash it under the bed. I should think that would be appealing to the government though, and it would probably produce jobs.
I agree, and take the nickel, half dollar, and 2 dollar bill with it.
I think just about everyone prefers money to be a physical thing. "Digital" and "security" aren't two terms that have much to do with each other. Yes, I know that my money in the bank is stored that way, but I always have the option to withdraw it to count at my leisure.
I want Scrooge McDuck's money bin. :(
James
I dislike the idea of doing away with all coins, but pennies most definitely need to go. I would argue that nickels and dimes have overstayed their welcome as well.
For that matter, all forms of public transportation that aren't using cards need to get with it. Apparently the MBTA's finally going to be using reloadable cards for passes early next year. Of course, not without yet another fare hike, and I'm sure service won't get any better, in fact, it'll probably just get worse. Like it always does. But hey, at least we won't need to stuff our pockets with tokens every time we want to go somewhere.
This part, though. Is there a reason for this that I'm missing? I don't see why they can't just round 1-4 down and 6-9 up.Quote:
As with the 2001 bill, the new one calls for rounding down any cash transaction that ends in in 1,2,6 and 7 cents; totals ending in 3,4,8, or 9 cents would round up.
Aren't there enough pennies already?
There is something you are missing. It's called the nickel.Quote:
Originally Posted by Grave
I don't want an entirely digital system for my moneys. Something like interac is fine, but I want to be able to carry actual legal tender in my pocket. I don't know why anyone would be for the eradication of hard cash. You lose even more control of your country that way.Quote:
Originally Posted by Cowutopia
I am for the eradication of pointless exchange like pennies, which are more bother than they're worth.
Quote:
Originally Posted by Andrew
Digital loons, oh the humanity.
and you couldn't evade taxes and buy shit illegally! :(
eradication
Likely because the distribution of ending numbers in dollar totals is not so clean.Quote:
Originally Posted by Grave
Digital currency only is simply a realization of what the currency system, totally fake and founded on, well... nothing.
Things the government would probably be keen on.Quote:
Originally Posted by Rich
fixed.Quote:
Originally Posted by Biff_Pocoroba
i don't know anyone that uses the half dollar and $2 bill. whenever i got one of those as a kid, i put it into a piggy bank because i thought it was something super rare. i think of them more as a novelty than actual currency.
the dollar coin is just annoying in general. it's good for getting onto an NYC bus, but that's about it. use it in a store and people give you this weird look like you're giving them a Canadian loonie. and AFAIK, the only way to get one is from a Metrocard machine in the subway.
We already have a working, feesable and successful digital system implemented on top of the hard one. Don't fix what isn't broken.Quote:
Originally Posted by Biff_Pocoroba
We have a toonie too. They're really handy change, actually. Especially on a hot day if you're looking for something cold out of the vending machine.Quote:
Originally Posted by Ashen Victor
Do they have a good reason why we shouldn't get rid of the penny?Quote:
Fifty-five percent of respondents consider the penny useful.
I agree with everything you said. Fuck the dollar coin, I remember this one time when I was on the PATH train I put a twenty in the machine, and it gave me 17 dollar coins back in change. I felt like I was walking around with a bunch of worthless peices of metal in my pocket.Quote:
Originally Posted by Ashen Victor
Then make them smaller, or make them out of some other shit. I don't understand why this is a tough problem.Quote:
Originally Posted by Diff-chan
Feesable.
Anyway, keep the pennies. Otherwise, I have nothing to chuck at hitchhikers as I drive by them.
lol I know people who came to NJ for college and did the same thing on the Path their first trip out to NYC.Quote:
Originally Posted by Regus
The penny isn't necessary. I'm also a supporter of the digital system only if I can go to an ATM and transfer money to people whenever I need to.
I'm for keeping pennies. If you get rid of them, states will have to rework their sales tax which is typically never 5% or 10%. It's always some werid number like 7 or 8.
Just do what they have always done and make them out of some other metal. Pennies aren't even copper anymore.
MD: 5% sales tax.
AK: 0%, yeah.Quote:
Originally Posted by buttcheeks
Destroy the pennies.
Get rid of paper dollars. Dollar coins FTW.
money bin FTWQuote:
Originally Posted by shidoshi
That won't work either. What's 5% of $3.45? 17 cents? I like the rounding bit.
Rounding blows ass. I vote use cheaper materials. Save pennies and buy a sandwich at the end of the month.
Yes, let's nix the penny. If it costs 1.4c to produce, I call bullshit on it. They make for dead weight in your pocket- you can give yourself a hernia trying to carry $20 worth. There surely are enough pennies already. Just phase them out due to attrition over time.
I'm for dollar coins instead of the $1 bill. Dollar coins would last longer and be more cost effective than the paper Washingtons. I wish the dollar coins that exist would be more utilized. I'd rather have a machine spit 17 $1 coins back at me than have 68 quarters to lug about.
When some arcade games and drink machines are priced at $1, a dollar coin would be more convenient for these.
As for sales tax, I think states should just kill it and bump up their personal income tax a bit to replace that. Montana does this. Keeping the books would be simpler.
Duh. You put pennies in a jar and then cash them in, or use them when your total is 17.54. You don't carry them around until you have $20.
FUCK THAT!Quote:
Originally Posted by gameoverDude
Raise the value to 1.4c!
When getting change, I'd rather lose the 4 cents owed to me than carry around 4 pennies. This is why I throw them away. And I'm Jewish. Ha!
I say keep the pennies. Do any of you work in retail? That would be hell re-assigning prices to everything to accomodate the lack of pennies. You'd have to re-program the registers and change all the signs for every item on the shelf.
So you're saying be lazy, and avoid saving money. Hrm. That's not a common American behavioral patern at all.
And I've worked in the pricing department of a grocery store, so yeah, I know it's a huge pain. But in 20 years perhaps it will have been worth it?
I think the problem here is that you're all afraid of Change.
So after saying, keep things the same, it'll be a pain to change, you say we're afraid of change?Quote:
Originally Posted by Beefy Hits
word joke
If we got rid of pennies I would never have the upper hand in a business meeting again.
I mean... who wants to put nickels in their ass?
Your mom.
Yeah, already cut my wrists about this one.Quote:
Originally Posted by buttcheeks
Loonies and toonies are fucking awful. The worst part about going to Canada is having to tighten your fucking belt to carry around those stupid things.Quote:
Originally Posted by Andrew
Just keep a bucket of rocks in your car. That's what I do. Although I throw them at minorities and not hitchhikers. Well actually if the hitchhiker was a minority I would.Quote:
Originally Posted by Calliander
You can keep your gay shitty one dollar bills thank you very much. That straightening out your bills garbage just to get a can of Coke from a vending machine is stone age bullshit. If there's one thing remnant taught me in his brief time with us here at TNL it was to live your life in the fastlane. Loonies are means to that. Dollar bills are not.Quote:
Originally Posted by Yoshi
The only reason I hate Canadian money is because I spend it like monopoly money in the Casino's, it just feels, er, fake.
I feel the same about American money. It seems like cartoon money or something.
Yeah, you must feel ripped off when you convert it.
True. It just goes to point out how worthless IMO the penny is.Quote:
Originally Posted by finch
The national average ST is 6%, but a 6% IT hike wouldn't be needed since not every sale item is taxable (food is generally exempt, as long as it's not eaten in a restaurant). So, about 2% would be enough.Quote:
Originally Posted by buttcheeks
Montana's IT rate of 10% sounds a tad high, but the lack of ST makes up for it.
QFT. I'd take loonies any day- Canada has one hell of a great idea. Sometimes if a dollar bill isn't as smooth as a freshly starched and ironed shirt, a bill acceptor isn't going to take it no matter what you do. Getting a different dollar bill isn't always an option. Dropping a $1 coin or two down a slot is quicker and easier.Quote:
Originally Posted by Andrew
Not really. The greenback is really weak right now so I wouldn't lose very much. Wait 5 years for that joke to be valid again.Quote:
Originally Posted by Biff_Pocoroba
It wasn't a joke, I was talking about the bill/coin thing.
Yeah, it's true I guess. I just carry lead weights in my pockets to make everything feel normal.
Good for the leg muscles.
I work in a bank vault, and I must say that I hate:
2 dollar bills, pennies, dollar coins and half dollar coins.
They are rare enough that they slow down the other machines since they arent calabrated to deal with them for the sake of productivity.
also, fuck stores that order partial straps of money. get 100 1's, 200 2's, 500 5'a, 1000 10's, 2000 20's, 5000 50's 10000 100's or dont get them at all. way to fuck up the system, stupid little damn store.
It's just gravy anyway after all the puppy kicking.Quote:
Originally Posted by Biff_Pocoroba
who the fuck does this? that's just retarded.Quote:
Originally Posted by M
and i don't know about anyone else, but i'm gonna start paying for shit with rape dollars. it's universal.
but without pennies, how would I pay your mom?
Fuck no. You purse carrying fuckers may love coins, but those of us who wear pants don't.Quote:
Originally Posted by shidoshi
Considering I use vending machines a single digit number of times per year, I don't give a rat's ass.Quote:
Originally Posted by Andrew
The penny must go.
While were're at it, can we also eliminate that magical 0.1 cent unit that gas stations love so much?
I agree.Quote:
Originally Posted by Andrew
Jemery?
Indeed.
:lol: Bravo.
Japan has coins up to $5, and I had no problem at all carrying them around in my pur...pants.Quote:
Originally Posted by Yoshi
Also, their 1 yen coin is like plastic or something. Let's just do that.
buying things with plastic? That will never work.
NEVAAAAAAAAAAAAAAAAAAAAAAAR!
I've never had a problem with a vending machine accepting my bills. Even if i carry them crumpled in my pocket.
It must be a super power of mine.
If there is anything that Japan goes all the way with and Canada does half-assed, the US should definitely avoid it.Quote:
Originally Posted by shidoshi