A Penny For Your Thoughts

February/13/2008 2:55AM
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If the USA were USA Inc. with real executives and shareholders would if be run differently? Let’s look at a really simple issue, the penny. With copper costs soaring it costs more to make a penny than the penny is worth. Many other less progressive countries have discontinued their penny equivalent. Citizens, retailers, and banks all hate the penny. Why do we still keep the penny? Is it too much to ask for Washington to step up and make it go away?

Here’s my two cents worth. If we can’t deal with an issue as simple as a penny, how will we deal with those big issues we are facing? In a corporation of even medium size the penny would have gone away long ago. Until Washington can do more than hold hearings and add pork projects on pork projects , debate endlessly, investigate everything and everybody, and pontificate, we have little chance for real progress. 

Someone once said "lawyers are like beavers damming up the streams of progress". Since the majority of elected officials today are lawyers, maybe this explains the paralysis.

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Comment (1)

  1. Ken says:

    I have recently seen the same info concerning the penny and would add that they also say the same issue exists with the nickle. The cost to produce both the penny and the nickle is higher than their current value. I would suggest getting rid of both. Pundants would suggest this will only cause consumers to pay a higher price as prices would be rounded up to the nearest dollar. This is probably true, but at least we would not be losing money by producing the useless coins.

    Perhaps we should have congress study the use of corn to replace the nickle and the penny. Using corn to replace the useless coins would raise the value of corn and put more money into our pockets. Once the corn coins begin to faid and wear out, we can recycle them into fuel so we can grow more corn. This is a great idea to help us sustain our needs for coins and fuel.

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