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Poll: Penny

Started by Ron Wenrich, August 14, 2006, 05:46:36 AM

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Ron Wenrich

They're saying they cost too much to produce.  Should we do away with them?  Poll expires 8-28-06
Never under estimate the power of stupid people in large groups.

Ianab

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
Weekend warrior, Peterson JP test pilot, Dolmar 7900 and Stihl MS310 saws and  the usual collection of power tools :)

Tom

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.

ely

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

Radar67

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

Stew
"A man's time is the most valuable gift he can give another." TOM

If he can cling to his Blackberry, I can cling to my guns... Me

This will kill you, that will kill you, heck...life will kill you, but you got to live it!

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jon12345

'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
A.A.S. in Forest Technology.....Ironworker

beenthere

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
south central Wisconsin
It may be that my sole purpose in life is simply to serve as a warning to others

PineNut

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.

dave7191

 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

tcsmpsi

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.   ;)
\\\"In the end, it is a moral question as to whether man applies what he has learned or not.\\\" - C. Jung

Don_Papenburg

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
Frick saw mill  '58   820 John Deere power. Diamond T trucks

JimBuis

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
Jim Buis                             Peterson 10" WPF swingmill

Sprucegum

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.  :)

asy

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
Never interrupt your opponent while he's making a mistake.
There cannot be a crisis next week. ~My schedule is already full..

Max sawdust

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
True Timbers
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Cedarman

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.
I am in the pink when sawing cedar.

pigman

If they do away with the penny, will I still be able to be a penny pincher? smiley_headscratch
Bob the penny pincher
Things turn out best for people who make the best of how things turn out.

Don_Papenburg

If she is female and over twentyone
Frick saw mill  '58   820 John Deere power. Diamond T trucks

Tom

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

SwampDonkey

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
"No amount of belief makes something a fact." James Randi

1 Thessalonians 5:21

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DanG

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.
"I don't feel like an old man.  I feel like a young man who has something wrong with him."  Dick Cavett
"Beat not thy sword into a plowshare, rather beat the sword of thine enemy into a plowshare."

Blake22

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.
Blake

beenthere

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.
south central Wisconsin
It may be that my sole purpose in life is simply to serve as a warning to others

Don_Papenburg

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.
Frick saw mill  '58   820 John Deere power. Diamond T trucks

beenthere

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.  :)
south central Wisconsin
It may be that my sole purpose in life is simply to serve as a warning to others