The Pros And Cons Of Abolishing The Penny

All in all the penny should not be printed anymore because they cost more to make then they have value, then they are a waste of time as in counting the, and finally reason is that pennies are losing the government money. A reason pennies should not be minted is because the penny costs more to make then it has total value. As stated in the text,” Because the penny costs more than a cent to produce, the Treasury loses more than $100

Congress did not possess the ability to tax and states were not willing to give money to support the government of their own free will. Congress did not have the ability to regulate exchange of business between foreign countries or between the states. This combined with each state printing its own form of money led to an extremely unstable economy. Congress quickly realized that an executive branch was needed in order to inforce the acts they passed; unfortunately it may have been realized too late. In western Massachusetts between 1786 and 1787 a slew of protests arose from local farmers who were opposed to the state and local enforcement of tax collections and judgments for debt.

The need for a national bank was very much so necessary. Hamilton also convinced president Washington to sign the bank bill by his lengthy report that stated: “This criterion is the end, to which the measure relates as a mean. If the end be clearly comprehended withan any specified powers, collecting taxes and regulating the currency, and if the measure have an obvious relation to that end, and is not forbidden by any particular provision of the constitution, it may safely be deemed to come with the compass of national authority.”

Also, Congress would have the power to tax, and get enough resources to back the currency up. Inflation wouldn’t have happened if Congress had the power to tax, since the money would have had value, and people would buy and sell more. Debt wouldn’t have had happened if Congress could tax because they could raise enough money to pay off their debts. Britain wouldn’t have broken its promise and would let Americans in the profitable markets if the central government wasn’t weak. They would have the power to override the states, and force them to pay the Loyalists, which in turn, would gain Britain’s favor.

The expenses are expected to increase over the next ten years and create a burden for the state governments, causing parties such as the Tea Party to conclude that the seventeenth amendment should be repealed in order to allow direct representation for state governments in decisions involving healthcare and education

In the course of American history, many presidents have come and gone. Even some of our Founding Fathers, such as George Washington, became president. In Washington 's case, he was the first president and the one to pave the way for many U.S. presidents to come. They are remembered in text-books, journals, bibliographies, magazines, websites, and much more. Some of their faces are even plastered on our money.

This scandalous coinage, also known as the penny, is a lousy excuse for a currency and should be abandoned. The penny costs the American people precious time and money as they attempt to scour through their purse or wallet just for a 1 cent coin, which is having devastating effects on the economy. The obvious solution to this ordeal is removing the penny and rounding all prices to the nearest nickel. On the other side of the argument, people view this as an opportunity for businesses to charge extra for a product or service that you originally would of although, there is simply no hard defining evidence that this would even occur. With everything considered, the penny is a nuisance to society as a whole, we need to abolish it before it creates

Every American’s favorite insert word that could reference money are getting facelifts. On Apr. 20, Treasury Secretary Jacob Lew announced that Harriet Tubman will be replacing Andrew Jackson on the front of the 20 dollar bill, along with new design plans for $10 and $5 notes. Everybody featured on money, from the father of the country to the emancipator of slaves, is an integral figure in American history. However, one member of this clique, Andrew Jackson, has been up for debate on whether or not he belongs.

Pennies have been a huge part of our history, and has also had a big impact on us. The penny represents strong will, positivity and pure energy. Abraham Lincoln was the first historical figure to the US so that is why his face is on the penny. But the penny is destroying our economy.

But on the other side, retailers could be aware of this and bring all their prices down to the lower round and sell them cheaper, which benefits the consumers. Supporters of the penny say we should keep the one cent coin but simply make it cheaper. (Source 2) But if we cut out the penny entirely, we can save even more. A near useless coin can be eliminated and we won't need to spend nears as much money making

Financial stability of the colonial people was often thought to be put at stake with the introduction of new taxes and regulations which caused much frustration. Before Parliament had laid out any questionable taxes (i.e. stamp act), the citizens appeared perfectly content with Parliament 's power (Doc C). The stamp act required that every document, used by the colonists be stamped and taxed. One can see why this would anger people (as paper was the “big thing” before modern technology). Chaos ensued, the colonists were not fond of tax collectors whatsoever.

Safire, William’s passage (Source C) spit straight fire saying that Lincoln would be “ashamed” to have his face on the penny, supporting the idea to get rid of the penny. America needs to make the decision to eradicate the penny. As we sit here waiting for something to be done; our streets, couches, and coffee pots are being engulfed with these ghostly coins. In Source A, Lewis questions if anyone can get rid of the penny.

The penny is the Unites States’ lowest denomination coin, and there are some people who believe it should be abolished. On the other hand, there are people who advocate for the penny to keep its place in our economy and I couldn't agree more. The penny may be annoying, but it plays an important role in our economy, is popular among most people, and is an important piece of symbolism. Some say that the penny is completely useless, and though it may seem that way, the penny is probably way more important than many people realize.

Another piece of evidence I have is that in Canada the Canadian senate committee held a meeting on whether the penny should be spared and if they did think that it should be spared to come forward to say why. No one came forward and said why the penny should be spared. My last piece of evidence is that already some countries have already the retired the penny. Those countries made a smooth transition in retiring the penny and that the people were okay with it.

First, pennies should be eliminated because of how much it cost make them. For example, “taxpayers lost 60.2 million dollars on the production and distribution of the coin. Many people are saying that the number of cost for the penny could increase in the upcoming years. Also,”the economy has changed so had the value of the coin.” But the penny is worth too little for for today's economy.