Over $40 Million is Loss to the US Mint
posted April 9, 2009 - 11:49amLast year, it cost tax payer's 1.5 cents to make a new penny and almost 9 cents to make a new nickel. We incease the National Debt each time we mint a new penny or nickel by almost half the coin is worth. And, it is only going up each year.
When you add the cost of minting the penny and nickel up at the end of the year over $40 million is loss to the Mint. Wow! Moreover, the coins slow down cash transactions between 1-5 minutes. We all know how it feels to be stuck in line waiting for someone to find 4 cents. Some of you may argue that without the currency, consumers would see an increase in prices because merchants would round up to the next dime.
Look, common sence should be kicking in here... a good business man/woman knows when your products are in the RED ZONE it's time to make some changes. Then why is it our Government seemly lacks common sence in the handling of our funds? It makes you just want to grab them by the sholders and shake the @# out of them. While screaming at them, "Are you stupid"?
For the love of God man stop making them! Or, at the very least make them out of cheaper metals.
To top all of this off, Congress has the power to regulate currency. Therefore, we now know it's not just one man/woman that is as dumb as a stump when it comes to handling money. At least I know 1=1 not 1=1.5 or 5=5 not 5=9. This should at the very least scare you when you stop to think about.
This alone proves they play with thier brains when it comes to smart spending. If a 8 year-old wont trade a dime for a nickel... then why in the world would Congress think we would want to do the trade?
I'll give you a nickel for that dime.
Give them two thumbs up for being as dumb as a stump.
Share your thoughts on the subject... should we stop minting the penny and nickel or use cheaper metals?
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