Trump ends the world economy.....

[Devo]

No more fucking pennies.

Trump says he has instructed US Treasury to stop minting new pennies: 'This is so wasteful!'

https://www.foxnews.com/politics/trump-says-he-has-instructed-us-treasury-stop-minting-new-pennies-this-so-wasteful

How WILL Pennsylvania deal with a D Governor?

10 percent sales tax, not 5.

[Devo]

10 percent and end property taxes.

???

[HDGristle]

Since there's over 240 billion unused in circulation and Americans only pay with cash 18% of the time, halting penny production makes sense. Especially with the negative seigniorage

Pretty bipartisan move

[onawbtngr546]

Except, minting pennies hardly has any effect the federal budget.



"Mint operations are funded through the Mint Public Enterprise Fund (PEF), 31 U.S.C. § 5136. The Mint generates revenue through the sale of circulating coins to the Federal Reserve Banks (FRB), numismatic products to the public, and bullion coins to authorized purchasers. All circulating and numismatic operating expenses, along with capital investments incurred for the Mint’s operations and programs, are paid out of the PEF. By law, all funds in the PEF are available without fiscal year limitation. Revenues determined to be in excess of the amount required by the PEF are transferred to the United States Treasury General Fund."
https://home.treasury.gov/system/fil...Y-2022-BIB.pdf



All the stupid people who have been hearing how pennies waste time and money are getting on the bandwagon, because they are stupid and don't realize that discontinuing pennies wouldn't save any money.


So, are we going to round up, down, or not at all?
If not at all, then what do we do when we eventually run out of pennies?
Simple fact that he didn't even consider to account for the future proves that he's a tool

[HDGristle]

It's not going to make eggs less expensive... but it will create more discussion about the nickel

Should see some dip in zinc prices

[onawbtngr546]

I agree. I'm in favor of getting rid of the penny. Have been for years. But this is the wrong reason to get rid of the penny.


Nobody is going to save any money when it is left up to the individuals, business owners, counties, cities, or state to decide on if it should round up or down, or not, then where do we get more pennies in 5-10 years when the numbers begin to dwindle? And, discontinuing the penny isn't going to save money... because the money that he is trying to save isn't being spent by the mint in the first place.


Or just drop the smoke and mirrors and make a new Trump Tax where everything rounded up goes directly to the fühler.