This website uses cookies to ensure you have the best experience. Learn more

Take A Penny, Leave All The Pennies? Essay Taking The Position That The Penny Should Be Taken Out Of Circulation In The United States

1808 words - 7 pages

Take a Penny, Leave all the Pennies?Think of the last time you were in a hurry at the convenience or grocery store. Doesn't it always seem that when you need to get in and get out someone is taking their time at the checkout by counting exact change or digging for pennies, and then you remember the times you've done it yourself to relieve your own pocket full of change. Or perhaps you never carry change around with you at all. You tuck it away in a jar at home as soon as you acquire it and dig it out once a year to pay a machine to convert it to paper currency. Even if none of these scenarios applies directly to you, ask yourself this question. If you see a penny lying on the ground, do you even bother to pick it up? If you do, is it out of superstition or do you consider it a financial gain? The fact of the matter is that the act of picking up a penny off the ground pays less than the federal minimum wage if it takes more than 4.9 seconds (Owen). The value of a penny is lower than it has ever been. As Americans, we have to honestly ask ourselves if it is worth keeping a unit of currency around that has such little value that we routinely refuse it as change or leave it at the cash register for the next customer. It is my contention that it not viable to keep producing it and that a plan should be put in place to stop minting the penny and to ease it out of circulation.When deciding whether or not it would be best to discontinue the penny, you must consider both sides of the coin. One of the most contentious points of the penny debate is the discussion of the possible repercussions of implementing a rounding system. If the penny is taken out of circulation, eventually all prices will have to be either rounded up or down to the nearest nickel. It is assumed that in such a system all prices ending in .01, .02, .06 and .07 would be rounded down, while all prices ending in .03,.04, .08 and .09 would be rounded up, as it has been done in Canada and other countries which have eliminated their one cent equivalent (Canada). Transactions using debit cards, credit cards or checks would not be affected. Penny proponents claim that this system will create a "rounding tax" which will negatively impact all consumers, especially the poor and other disadvantaged groups who conduct most of their purchases in cash (Lombra 433). In 2001, Raymond E. Lombra, Professor of Economics at Pennsylvania State University, conducted a simulated study of average convenience store purchases and released the paper "Eliminating the Penny From the U.S. Coinage System: An Economic Analysis" in the Eastern Economic Journal. Through his study of 5000 simulated purchases of 1 to 3 items from a convenience store, Lombra reached the conclusion that more often than not(60% to 93% of the time) the resulting price of a sale would be rounded up rather than down, costing consumers more money (435). He goes on to state that even a penny of rounding per person per day(or $700 million a year...

Find Another Essay On Take a Penny, Leave all the Pennies? Essay taking the position that the penny should be taken out of circulation in the United States

The following essay describes the feminist position of gender inequlity in the United States

1225 words - 5 pages operated" like a new car. They are not to be driven by anyone. They can drive themselves. And they certainly are not passengers on the ride of life. They are the engineers of their own destiny, and every female (and every person for that matter) should take proactive measures to put feminist theory to practice as they chug along the tracks of inequality, trying desperately to reach destination fairness. Sadly, many people remain apathetic to the cause

Should the Drinking Age be Lowered in the United States?

1458 words - 6 pages Should the United States follow other countries in their quest to end the debate on the drinking age? The United States can take a look at other States such as: Germany, the Netherlands and France, and see how successful they are. Many teenagers would jump on the bandwagon of lowering the drinking age just because they want to have the ability to drink, the argument of being able to die for the United States but can’t drink and it would take

Euthansia Addressing the pros and cons of the issue of ethunasia in the United States. Should the practice be out lawed?

1385 words - 6 pages end it for him" (Bernards, 1989).Doctors should do what they can up to help a patient, but only up to a certain point. If a person is at the point where death is a blessing a doctor should not be forced to save a person if they go into cardiac arrest. Also it might be the patients' decision for nothing to be done, in this case the doctor should do as instructed.Opponents of euthanasia often preach that doctors too often play God on the operating

Should Physician-Assisted Death be Legalized in the United States

658 words - 3 pages one’s life is not available nationwide, desperate people in search of relief attempt to end their lives themselves. A survey taken in 2005 shows that there were a total of 32,637 suicides in the United States, with over 800,000 suicide attempts that same year. This can depict how providing an accessible alternative can provide those who have a concrete purpose to end their life easily within reach. Physician-assisted death can be seen as a

Should Prostitution Be Legalized in The United States?

2925 words - 12 pages these women’s complaints are not as taken seriously as they should be, with many people forming a “What did you expect?” attitude. The idea that a prostitute cannot be raped is, unfortunately, a common one. In Nevada counties that have legal brothels, the workers do not need to fear arrest and feel that they are safe from the extreme violence that prostitutes in other areas of the country are often at risk of (Clemmitt 438). In “The Audacity of

Should Marijuana Be Legalized in the United States?

1524 words - 7 pages Here, I am writing about topic “Should Marijuana Be Legalized in the United States?” Since 1961 marijuana has been ill-gotten within the U. S. however within the 2012 election Colorado and Washington voters determined they needed that to alter. Marijuana has terribly valuable medical use to patients laid low with some terminal diseases. It additionally features a terribly valuable industrial use with the cultivation of hemp from the cannabis

Should Guns be allowed in the United States?

1195 words - 5 pages If people were not able to have guns would there be less deaths or would people find things to take place of the gun. Gun control seems to be a major factor in the United States these days. Some say guns are not controlled, while others say the gun control is way too tight and should be lightened. The government is always coming up with different plans to change gun control that will never work. It is not the guns fault that they are shooting

Should Marijuana be legalized in the United States?

2142 words - 9 pages legalization. Legalizing marijuana would not just help teenagers choose a safer drug, it would also hurt drug cartels and benefit the U.S. economy. Drug cartels operating out of Mexico have made billions and billions of dollars by distributing illicit drugs all over the United States. According to Castillo and Wyatt a study done by the RAND Corporation showed that Mexican drug cartels make 6 billion dollars of illicit drugs every year in the United States

Should Prostitution be Legalized in the United States?

2291 words - 10 pages tourists, obtain good rates of payments for their services. Barry explains that in the United States the payments of a prostitute may change according to regulations made by places as brothel keepers, madams, and procurers who usually take a slice out of a prostitute's income (Barry 1). Also, prices may further depend on demand, and popular, high-end prostitutes can earn significant amounts of money for their business bringing down the economic of

Should Praying Be Promoted in the United States?

993 words - 4 pages . She doesn’t want Marley to have a bad relationship with Jensen. Jo then get’s up from her seat and approaches her teacher. “Sir, may I please go pray?” School praying should be promoted in the United States of America so that Christian kids can go through the school day easier. In order to understand why school praying should be promoted, we need to know more about it. Then you will understand why it should be promoted in schools world

Should Minimum Wage be Significantly Increased in the United States?

1976 words - 8 pages wage should be in their state alone. There is such that as to big of a government and that’s what we have now. Whose to say that the increase in Washington, DC, will support someone living for instance in Hawaii? Hawaii for example has a happy meal at McDonalds for around 8 dollars. That’s a kid’s meal; could someone imagine the price of an adult meal? The states should see that and ultimately take care of their people of the state to determine the

Similar Essays

Parental Leave In The United States

1537 words - 6 pages Parental Leave in the United States"I second the amendment", Senator Henry starts her speech. "It is important to try to ensure that parental leave is paid because those parents who most need to be able to deal with problems concerning their children will not be able to take leave under the current provision" (Henry, 2005, Senate Speeches). Although a well developed country, the United States' parental leave legislation has not been an adequate

Did President Obama Take Necessary Steps To Take The United States Out Of The Great Recession

1321 words - 6 pages argues that President Barack Obama has taken the necessary steps to take the United States out of the “Great Recession” and that the US government’s response has been proven successful combining fiscal stimulus and hints of austerity and implementing them in the appropriate times. Despite the major efforts of the expansionary monetary policy of Federal Reserve program (Quantitative Easing) to prevent the banking system from collapsing (2

Smoking Should Be Banned All Over The United States

1667 words - 7 pages in our society until the cigarettes are permanently banned in the United States. The diseases that arise from smoking are causing thousands of people die throughout the United States and a ban needs to be imposed to prevent these deaths from occurring. The statistics that represent the number of people who have died from smoking in the U.S are astonishing. According to the 2004 National Survey on Drug use and Health, an estimated “70.3

An Essay That Addresses All The Points Of Why Abortion Should Be Illegal In The U.S

663 words - 3 pages this. The reason for this is that once the baby is born that the parents may change their mind if they want to keep it. Parents must decide at the onset of the pregnancy to decide if they can bring a child into the world, if the answer is yes, then they should go on with the pregnancy and then determine whether they want to give the child up for adoption. The answer is not to abort the fetus.In conclusion abortion should be illegal in the United States. Not only because it's murder, but also because it's against a sin to religions, it's legal murder because the fetus can feel and think after only 15 weeks therefore it is a person, and because abortion is just plain wrong.