The Forestry Forum

They're saying they cost too much to produce.  Should we do away with them?  Poll expires 8-28-06

Yup...
NZ has just ditched the 5 cent piece for the same reason. OK.. so it's only worth 3 or 4 of your cents, but 90% of the population wouldn't stop to pick one up.
1 & 2 Cent coins went years ago ::)

When a coin is worth more as scrap metal... it's time to change   ::)

Ian

We need to get the prices back to the point that the penny (cent) is worth something besides taxes.

I'de rather see them paint over that .9 cent at the gas station.

i'm with tom on that one. but i griped back in 83 when they started making the penny with zinc in them.

My Grandpa always told me, "Son, without a penny, you don't have the makings of a dollar."

Stew

'They' say that besides costing more to produce, it costs more for a cashier or teller to give it to you in your change than it is worth.

I like pennies, :) they are good luck, and the wheat pennies are fun to collect. ;D

Without pennies, the nickel will soon become the penny, and it too will then be tossed so the dime becomes the 'penny', and so on and so on. It's inflation. I say keep the penny. 

Now the cost of an item is rounded to the nearest penny. Without the penny, the cost will be rounded to the nearest nickel. etc. etc. etc.  I doubt it will be rounded down either.  :)

Glad to see the forum is back with us. Bad enough to lose the gallery, but real bad when we lost the forum for a short while there.  :o

Tom, several years ago we had a gas station here that did not post the .9 cent for gas. They were the cheapest one around also. But then guess they decided to go with all the other ones and use the .9 cent posting. They lost my respect when they did that. Also that one cent will not pay taxes on much of anything.

 beenthere perty well summed up i my thinking about the penny  the goverment wasted so much money on other things the the lost on the penny is small change

I'm for keeping the penny.  It is kinda nice to know that I have at least some form of money that is actually worth something.   ;)

Keep the penny , eliminate the federal  >:(reserve , go back to the gold standard.  :)  oh but wait  ,then the pollitions can't manipulate the money supply   :o;D

Keep the penny. I don't want to give them an excuse to raise the prices any more than they already have. Eliminate income taxes and the IRS. The national sales tax is the way to go. Going back to the gold standard is another great idea.

IMasalwaysHO
Jim

When I see a penny it takes me less than a second to bend over and pick it up. If I could do that every second I would be picking up $36.00 an hour

And that's tax free which makes it worth about $45.00 an hour. Go ahead - throw your pennies at me.

I have seen dumb kids throwing change at each other in the mall but I have never seen a millionaire that would not pick up his change.  :)

We don't have 1 or 2c coins anymore. just 5, 10, 20, 50, $1 and $2. Our notes are $5, $10, $20, $50 and $100.

I don't miss the 1 or 2c, but I can see that the 5c is becoming the new 1c.

Gotta luv inflation :(

asy :D

Heck I cheated :D  Read some of the posts and decided I do not know ::)
Yes they are a pain, but do we really want to make the nickle the coin to round with >:(
Way I see it Walmart, politicians and banks will get rich on the "rounding" >:(  Rest of us will get what the three of them already give us :o :-X
Max

Sprucegum, I concur with your calculations.  I have timed myself picking up the odd penny.  Also, I like the old wives tale of tails up is bad luck. Yeah, for the person who lost it.  Means more for me.

If they do away with the penny, will I still be able to be a penny pincher? smiley_headscratch
Bob the penny pincher

If she is female and over twentyone

A penny pincher without pennies will  have to squeeze them out of his nickels.  I have some acquaintances that do that now.  :D

I didn't like it when they took the $1 and $2 away either. I liked filling a wallet full of them, they was light weight and you could roll a $20 or $50 on the outside of the wad and make some auctioneer grin.  ;D

What we got here is an oxymoron.  Now, if I was to say that I'm resistant to change, does that mean that I don't like coins, or does it mean that I want things to stay the same? ??? ::)

I clicked "NO".  I don't want the penny to go away.  They have value in that they help keep prices stable.  For instance, here we have a 7% sales tax.  How would a business charge that tax on a one dollar item?  What would they pay to the State?  Well, they'd charge you 10 cents, then pay the State 7 percent of their sales reciepts at the end of the month and keep the other 3 percent.

I can think of a thousand ways the Government could save money without a bunch of speculative fiddling around with the money system.

Quote from: JimBuis on August 14, 2006, 11:29:45 PM
Eliminate income taxes and the IRS. The national sales tax is the way to go.

IMasalwaysHO
Jim

AMEN!! I've always thought this is the way to go.

Quote from: Blake22 on August 20, 2006, 12:42:05 PM

Quote from: JimBuis on August 14, 2006, 11:29:45 PM
Eliminate income taxes and the IRS. The national sales tax is the way to go.

IMasalwaysHO
Jim

AMEN!! I've always thought this is the way to go.

My take on this.
The States wouldn't accept a National sales tax, and such a tax would seem to discourage purchasing (which makes the economy grow).
I'd opt for a flat-rate Fed. income tax (i.e 10% on ALL income, NO deductions) and wipe out IRS too.  But the lawyers won't go for that, as they are vested big time in working to avoid taxes for the big money makers.

If you are saying NO dedutions at all , does that inmclude cost of doing bizzness?  If so I'm against a flat tax as I take in 80 thou but spend 70 thou  to do so .  A  tax on80 would realy put a pinch in my income , but if I could deduct a few items like the 70thou that would be fine.

I don't think business income should be taxed. After all, its just passed on to the customer.

But income you take from the business and put in your pocket, is personal income and a flat tax should work there with NO deductions. And NO minimum income either. Make $100, pay the tax. Make $1,000,000, pay the same percent tax.  Probably find out that 10% would be way too high if it ever happened.

Never will happen, but think of the lawyers that would be lookin for work, if corporations and businesses didn't need them to skirt the rules.  :)

Total national income for 2003 was about $9.7 trillion  with personal income accounting for $9.2 trillion.  National budget for 2004 was $2.4 trillion.  I don't think 10% will cover it.

My 2 cents, while I still have it  ;), is a bit radical by today's standards.

Most have forgotten, conveniently, the nature of this nation.  What its founding fathers intended, and the basis of that intent.  This nation was never designed to work on tax.  From the first tax, comes corruption, and the rest, always becomes history.

Yeah, I think taxation was one of the reasons you guys cut England loose wasn't it?

I voted keep the penny. Last week when I opened my door at the filling station lo and behold there were a handful of pennies on the ground right beside the pump. Can you imagine that? Folks are griping about the price of gas and then they throw money away. They really didn't throw it away, they just helped me pay for my gas.  :) :)

Been there , That would require more bookwork on my part as my buisiness is my personal income . 


Ron ,  It is time for the federal government to curtail spending  . Starting at the top , all elected office holders will hence forth will not receive a pension from the taxpayers,all healthcare will come from their pockets .  No longer shall the taxpayer fork over money for trips out of contry.   That should be a start to cutin the budget so it will fit the income of the people.

Swampy , you are correct , and it was over less taxes than we have now . Talk of wasted boodshed, and disrespect for you forefathers sacrafice.

I like pennies.. It'd be pretty weird if they weren't around anymore. I guess they gotta do what they gotta do though.