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Eliminate the Cent, Mr. Trump

Eliminate the Cent, Mr. Trump

A good friend of mine, Mark, is very optimistic, as am I, for Mr. Trump’s opportunity to make positive changes.  He thinks there is a lot of low hanging fruit that can be done quickly to set the tone.  His only concern is that the press will not report it.

Mr. Trump, here is the very first thing you should do:

Eliminate the U. S. Cent (legal name for the lowly penny) as legal tender.  It costs anywhere from 1.5¢ to 2.5¢ to make so that is enough reason to dump the cent (it loses taxpayers about $50 Million annually).  Add to that the cost to all who use it in making change, counting the till at the end of the day, not to mention the back pain for geezers like me when we stoop to pick up pennies in front of the 7-11.

So why do we still make pennies?  I can think of 3 reasons: 1 – We are very bad at math (see my post here); 2 – There is so much of our culture built around the cent that we can’t give it up (“a penny for your thoughts”, “…not a red cent”, “a penny saved, a penny earned”……): 3 – Lobbying dollars to support political campaigns.  Jarden Zinc Products is the sole supplier to the U.S. Mint of the clad copper metal used to make the U.S. Cent.  It is rumored that if a congressman needs some quick donations, one way is to propose the elimination of the cent.  Jarden Zinc Products, it is said, will offer the congressman a nice donation if he drops the idea, forever.

If Jarden in fact (I have no proof) has a monopoly and is willing to pay elected officials for the privilege of keeping that monopoly (no proof here either, just rumor), this is exactly the type of corruption that Mr. Trump should send packing immediately.  What a nice symbolic move it would be to embarrass Congress into dropping the penny forever.  And it would save about $50 Million a year – chump change for the U.S.Government, but real money to the rest of us.

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