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FORUMS › General Discussions › Politics › Should we get rid of Abe
TOPIC: Should_we_get_rid_of_Abe
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So long as business rounds down and not up, sure. If my order is 5.93 USD and I must lose 2 cents for that order... This could become costly for me... Now imagine companies doing hundreds of x.73 or x.37 USD transactions.

Personally I would support going to a plastic currency. Drop paper and metal money and just go to debt and credit cards. You could even push it to a pay chip, where your company that you work for gives you a chip or card which is filled when you are paid and you can use the money the account has on the card.

This likely would require all banks to allow one to have a debt account without a minimum of how much one has in the account. It would also require store to improve their infulatructure such as the EBT machines or other electronic banking.

My generation doesn't have the patience for the crappy line that the system is down. It is called have two systems and a back up. Our college teachers don't say "well send me the report when you get the computer fixed."

Instead we get a big fat Zero as the grade. An employer is worst, they hand you a pink slip. Why? Because we are expected to know to have the data backed up on a thumb drive at all times. The data written in a formats which can be opened on a back up computer or device and our continued productivity to continue unhindered by the failure of one system.

That is why when ever a store I go to has such a failure, I simply leave the goods on the counter and walk away. If asked for another form of payment, I tell them that I have the means, but they aren't worthy of my money, that I expect them to be professional and I will professionally spend my money with a company who will plan for a failure of their data bases with secondary systems or a back up of some kind.

I have 50 USD in my wallet. I haven't used it in six months, I don't intend to.

Hazle Township PA
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President Barack Obama finally broke his silence on an issue of national importance Friday – he thinks it’s time to retire the penny.

The possible extinction of the one-cent coin was a featured economic question in a Google+ Hangout with the Commander in Chief last week as John Green, the co-creator of a popular YouTube channel, applied a little presidential peer pressure.

“Australia, Canada, New Zealand, many other countries have gotten rid of their pennies,” Green said. “Why haven’t we done it?”

“I gotta tell you, John, I don’t know,” Obama responded, adding, “Anytime we’re spending money on something people don’t actually use, that’s an example of things we should probably change.”

They’re pennies. Aren’t there more valuable things to worry about?

First, pennies actually cost more to make than they’re worth. In 2012, every penny cost 2.41 cents to make – more than twice their face value.

And as zinc and copper – materials used in minting the penny – have become costlier due, in part, to manufacturing shifts in China, which are likely to raise costs further.

Granted, the total cost of minting pennies was only $58 million last year – less than one-tenth of a percent of total federal spending in 2012 – but groups like Citizens to Retire the U.S. Penny have long been making the economic case for getting rid of the penny (plus, the group adds, fishing for pennies adds about 2 seconds to each cash transaction per day).

And the U.S. military has already decided they’re essentially useless; all Army and Air Force Exchange Service stores on bases round all cash purchases up or down to the nearest nickel.

With both parties looking for ways to cut government spending, it seems as though cutting penny production could be a relatively painless, if insignificant, place to start. But in the Google+ Hangout, Obama ceded that Washington has bigger fiscal fish to fry.

But the president doesn’t need Congress to explore other, cheaper alternatives to zinc – the main metal in pennies. In fact, the administration’s 2013 budget encourages the Treasury to “explore, analyze, and approve new, less-expensive metals for all circulating coins like aluminum, iron and lead.”

It wouldn’t be the first time Abe Lincoln’s coin got a makeover. Back in 1982, the penny changed from 95 percent copper and 5 percent zinc to 97.5 percent zinc and 2.5 percent copper.

Pittsburgh PA
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TOPIC: Should we get rid of Abe
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