OH, THAT BELOVED PENNY!
And the nickel actually.
This is an easy one. (Or it should be. Enter the zinc lobby.)
Did you know it costs more than a penny to make a penny? True story. 1.7 cents to produce $0.01.
Now, I'm not an economist but even a 5th grader can see that paying more and getting less is not a wise financial transaction. Let alone that in today's world, pennies are pretty near irrelevant and useless, as people often outright avoid them and many businesses won't take them without some due eye-rolling.
Considering our nation's incredible debt, why would we keep doing this?!
This is an easy one. (Or it should be. Enter the zinc lobby.)
Did you know it costs more than a penny to make a penny? True story. 1.7 cents to produce $0.01.
Now, I'm not an economist but even a 5th grader can see that paying more and getting less is not a wise financial transaction. Let alone that in today's world, pennies are pretty near irrelevant and useless, as people often outright avoid them and many businesses won't take them without some due eye-rolling.
Considering our nation's incredible debt, why would we keep doing this?!
AND THE ECONOMISTS SAY...?
Many of them completely agree. As does President Obama.
SO WHO SUPPORTS KEEPING THE PENNY?
The zinc industry of course. And they have their own powerful lobby.
