It's about damned time. We honestly should have nothing smaller than quarters right now, going by the same logic as discontinuing the half-penny forever ago (which had more equivalent purchasing power than the dime does now).
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There are enough in circulation that nobody will miss the lack of printing for decades
I work at a bank, and people are trying to buy all of our pennies as collectors and leave none for the people who are actually going to use them. it's a clusterfuck lmao
The penny died pretty quick in Canada, I would argue and say it’ll be gone within 3 years, tenders will just round up/down the total and no longer hand them out.
One of the only things the Trump admin is doing that I actually agree with and have since I was a child. Fuck coins in general but getting rid of the most dead weight coin of them all is a step in the right direction.
I agree getting rid of the penny is a good thing, but it's really bad that this is setting a precedent to give the president a lot more power
It's also a really poor implementation considering the government has given no guidance on how businesses must handle it
Does that mean we are now allwed to make "mint" pennies ourselves?
Now do daylight savings!!
They tried in Ohio. They couldnt stop running over kids waiting for the bus in the morning dark so it was reverted.
Exactly. Fuck DST.
No one can agree on which time to use so time change will never go away. It's really annoying. I don't give a shit which we use, just toss of the ducking time change. It's 1 hour, people gotta chill.
Sunset at 5pm sucks, it feels unnatural, let it be dark early in the morning idgaf I want the sun to be out when I get off work
I agree with you but also I don't care anymore lol. I just want the change gone. No one agrees on which though. Someone needs to just flip a coin and we all get used to it and adjust
Someone else mentioned children waiting for the bus get run over at a much higher rate if it's dark early in the morning, which is a pretty valid argument
That being said, I'd much rather it get dark later in the day
Fuck at this point does it even matter? The time change is bullshit on a baseline so long as it's done on the state level it shouldnt be too bad since eventually one of them will probably win out.
Soon:
A: "Penny for your thoughts" B: "Lol, okay Gen Z"
I'd give my two cents but I guess they're just gonna go up in collector value possibly
We have enough pennies in circulation that your great-granddroids are going to be digging them out of the couch cushions of the ruins of homes for decades.
What a boomerism
Note that the legal framework for phasing out the coin is entirely absent. This was an illegal act as well because only Congress determines what money exists and will be used according to the Constitution.
Abolishing the USD cent comes way too late.
Was abolishing the half penny in 1857 a good idea? If so, then abolishing the quarter would be a good idea today. It has about as much buying power as the half penny did in 1857.
Yeah, but honestly getting rid of coins is an admission that inflation is high relative to 40-50 years ago. When pretty much every government wants to keep that fact out of the public consciousness. Especially the current US government who wants to both claim we don't have inflation at all, and are the ones getting rid of the penny.
I've been saying we should drop the penny for almost 2 decades, but I still kind of look at getting rid of the penny as a sign of our current government's abysmal handling of inflation.
So I don't know the term for it, maybe it's just propaganda, but a quarter feels like it has value.
The penny however doesn't have that feeling. Vending machines often say "No Pennies" and toll booths say "No Pennies", even though the Penny exists everyone sorta already agreed the Penny wasn't worth the hassle.
I think you could probably convince people the same is true for the nickel. Although eliminating just the nickel is tricky since you'd keep the dime and quarter and that divides weirdly. So you should also remove the dime but that now really starts to feel like it had value.
But the quarter. That would be a hard sell. You're basically eliminating all coins at that point. Unless you plan on making the half dollar wayyy more popular.
When we got rid of the half penny it was worth more than what dimes are worth now. Quarters are the only useful coin. We should be rounding all transactions to the nearest quarter.
Good, while we're at it we should redecimalize. A coin that can't pay for a significant portion of something is worthless. People used to buy snacks with coins, and like, thats where they thrive. Coins are more expensive than bills but they can change hands a lot more times. A dime for a soda or a cheap snack, maybe a nickel if it's a good deal on a bag of chips is about right.
Like, this isn't even a monetary policy failure, it's just something that should happen every century or two in an inflationary economy with a 5% target.
Fuck pennies. Even back in the 90s, it was annoying to receive.