Abolish The Penny!
Byeka Name changed from Freak83Toronto Join Date: 2003-03-13 Member: 14484Members, Constellation Posts: 1,391
It's become worthlessThe penny, $0.01. The smallest amount physical money can go. Before all the inflation of the decades hit, pennies used to be worth something. Now if you see a penny lieing on the ground, the energy spent to pick it up is more valuable than the actual penny itself. So why do these still exist?
My theory (and I would love to have this done) would be to abolish the penny. Round prices to either x.00 or x.05.
x.01 to x.02 gets rounded down to x.00
x.03 to x.04 gets rounded up to x.05
x.06 to x.07 gets rounded down to x.05
x.08 to x.09 gets rounded up to x.00
No-one wants pennies, they take up space and are a nuicense. There value is almost worthless, even in my job, I have to count the money at the end of my shift except for the pennies.
After the abolition, banks could hand out minor rewards for submitting pennies to them in order to remove them from circulation of the economy. For instance, every 500 pennies you deposit, earns you $1.00.