Kill the Penny

This rant against the penny reminds me of what I still think is a pretty frigg'n good idea:

  • Abolish the penny.
  • Round all purchases up to the nearest nickel.
  • Take the difference and contribute it to a national education fund.

Essentially, one huge, national penny jar.

Although John Green makes some fascinating observations about the penny. Did you know:

  • In 1972 a penny was worth what a nickel is worth today. Thank you inflation.
  • A penny is only work 1 cent, but it takes 1.7 cents to produce.
  • The government spends $70 million a year minting pennies.
  • Purportedly, over a $1 billion per year is lost in productivity to people fiddling with pennies.

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