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Feb 7th, 2025
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 Re: DOGE takes aim at the penny
[Re: rolyat.nosaj]
#9175244
01/23/25 04:52 PM
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Joined: Sep 2022
Posts: 1,039
duffas
Pro Tracker
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Pro Tracker
Joined: Sep 2022
Posts: 1,039 |
Funny, Missouri used to have a 'mil'. a plastic coin with no value other than for tax.
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Re: DOGE takes aim at the penny
[Re: Slow Drifter]
#9175259
01/23/25 05:11 PM
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Joined: Jan 2014
Posts: 13,283
Paluxy
THF Celebrity
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THF Celebrity
Joined: Jan 2014
Posts: 13,283 |
It's not hard to understand. Every time currency of any denomination changes hands the fed gets a cut in taxes. If a penny changes hands even as little as a hundred times in it's lifetime, it's made money for the fed. Make that penny a dollar, or a $10 or a $20, and the government take gets much more interesting. Not just federal, but state and local as well. Everyone gets a piece of the pie. The more currency in circulation the more they make. Nothing will change as far as that goes. Pennies, nickels, dollars, it doesn't matter as pennies will be replaced in the system. If anything it'll cause slight inflation as everything is rounded up.
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Re: DOGE takes aim at the penny
[Re: Paluxy]
#9175274
01/23/25 05:38 PM
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Joined: Aug 2005
Posts: 21,647
Sniper John
gumshoe
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gumshoe
Joined: Aug 2005
Posts: 21,647 |
It's not hard to understand. Every time currency of any denomination changes hands the fed gets a cut in taxes. If a penny changes hands even as little as a hundred times in it's lifetime, it's made money for the fed. Make that penny a dollar, or a $10 or a $20, and the government take gets much more interesting. Not just federal, but state and local as well. Everyone gets a piece of the pie. The more currency in circulation the more they make. Nothing will change as far as that goes. Pennies, nickels, dollars, it doesn't matter as pennies will be replaced in the system. If anything it'll cause slight inflation as everything is rounded up. I think it would be a wash if done like Canada did. 1, 2, 6, 7 rounds down. 3, 4, 8, 9 rounds up. The rounding is not on individual items, but on a final bill and the penny still remains on digital bank transactions.
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Re: DOGE takes aim at the penny
[Re: rolyat.nosaj]
#9175305
01/23/25 06:28 PM
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Joined: Jun 2006
Posts: 9,225
Dave Davidson
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jun 2006
Posts: 9,225 |
Wonder what they were worth pre Biden build back better inflationary BS.
Without a sense of urgency, nothing ever happens.
Boy, if I say "sic em", you'd better look for something to bite. Sam Shelley, Rancher Muleshoe Texas 1892-1985 RIP
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Re: DOGE takes aim at the penny
[Re: rolyat.nosaj]
#9175307
01/23/25 06:30 PM
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Joined: Jun 2006
Posts: 9,225
Dave Davidson
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jun 2006
Posts: 9,225 |
RE silver coins see Coinflation.com
Without a sense of urgency, nothing ever happens.
Boy, if I say "sic em", you'd better look for something to bite. Sam Shelley, Rancher Muleshoe Texas 1892-1985 RIP
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Re: DOGE takes aim at the penny
[Re: rolyat.nosaj]
#9175324
01/23/25 07:20 PM
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Joined: Mar 2007
Posts: 1,535
jrs_39
Pro Tracker
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Pro Tracker
Joined: Mar 2007
Posts: 1,535 |
This what drives me insane about the Climate Change activists. We can't get rid of the penny, but if we give them all of our money they will change the earth's gravitational rotation. Sure.
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