This is why pennies suck. I promise the videos don’t take that long, and they’re fun! Hurray!
Points to take away from this video:
1) This is somewhat tangential, but it’s ridiculous that sales tax isn’t calculated until you’re at the cash register! Does the government think we’ll be more likely to buy things if they’re priced lower and then money is added at the register? I, for one, am not that dumb.
2) Pennies cost more to produce than their monetary value. Period. This alone should be a good enough reason to abolish them.
3) They waste time and don’t facilitate the exchange of goods. Which is kind of what money is about, no?
More of the same, but still entertaining. Nickels are also mentioned.
1) Plan to solve inefficiency issues = 3 coins: 10 cents, 50 cents, and $1 respectively.
2) It’s not about politics – it’s about actual rationality. Therefore, there is no political will to solve the problem. Gah.
So, there you have it. Pennies are lame. Canada just solved their penny problem. Do we really want to be behind Canada on this one?
If Benjamin Franklin were here, he’d say, “A penny saved is useless. Down with the penny!” because he was a smart guy. Yeah.