Penny-wise?

A penny saved may be a penny earned. But today, a penny made is 1.6 cents spent. Who could promote such foolish money flushing?

Well, many people like the penny and don’t want to see it go away. Plus, the concern of having to spend in 5 cent increments sounds  a little fishy. But more than anything, I think the concern is change–no, not pocket change, I mean change to one’s world.

I imagine, a stereotypical conservative must be at a cross-roads on this issue: recognizing the financial folly of losing money making the darned things, but also not wanting to get rid the good ‘ole copper coin that he remembers buying candy with as a boy.

Either way, it’s a neat debate and on the blog, Freakonomics, they argue for the elimination of the one cent piece:

What do you think?

 

1 Response

  1. They should get rid of the dollar bill while they’re at it. I think Grassley in Iowa was advocating for that recently. We won’t use a dollar coin unless the dollar bill goes away.

    I’ve spent the GB pound for years while traveling in England and it’s really not that bad.

What say you?