Despite this, the U.S. Mint keeps churning out a billion pennies a month.” The complete waste of time and money spent producing these pennies just to be forgotten in the couch cushions is astounding. If every penny is 1.8 cents to produce than the government is giving away 800 million USD every single year. The same article says, “...10 million new useless items punched out by government workers who could be more usefully employed tracking counterfeiters.” In other words, the government isn’t only wasting money on penny production but, also a working staff. U.S. currency could be more protected if it wasn’t for the pesky penny. To sum up, if people took the time to research how the penny was affecting us as a nation we could be closer to the
For many years people have been fighting to eliminate pennies for many reasons. One of the most popular reasons to eliminate pennies is that pennies cost more to produce than the actual worth of the penny. “The united States government lost $60.2 million on production and distribution of pennies in 2011,” (Sommer) wrote, source #1. (Sommer) also wrote that Each zinc and copper coin cost 2.41 cents to produce and distribute”. Meanwhile a penny is only worth 1 cent.
The US is more than 66 trillion dollars in debt, has more than 560,000 people that are homeless and poverty rates are up to 13.5% (43.1 million people). Other countries are like that too, and we help those countries with foreign aid, but we barely help our own country. These reasons are why we should ban foreign aid, the US is too much in debt and there are too many rich countries that we give foreign aid too. I believe that foreign aid is a negative aspect of this world and should be no longer allowed. One of the reasons why i believe that we should no longer have foreign aid is that the United States is too much in debt to afford foreign aid.
(“10 Critical Pros And Cons Of Illegal Immigration” ). The number of immigrants that do not pay their taxes is too limited for it to be considered a burden to our economy. Most of them also do not even receive back their taxes, they just pay them. The cost of deporting all of them would be too immense. There are millions of undocumented immigrants living in the U.S.A., it would be almost impossible to deport every single one of them.
Although they changed from being pure copper to copper coated zinc and is smaller, they cost two cents to make each. With billions being made each year, it leeches money from our economy. Although so many exist only half are currently in circulation. "Two percent of Americans admitted to regularly throwing pennies in the garbage, which means the U.S. Mint is spending millions to make garbage"(Arnold). When the penny was first established, it was worth more than it is today.
It states in Source 3: “Abolish the Penny” by William Safire, “They cost more in employee-hours—to wait for buyers to fish them out, then to count, pack up and take them to the bank —than it would cost to toss them out.” However, with every argument there is another side, meaning there is a group of people that believe we should keep the penny. “Pennies play an important part in our culture and our history. Abraham Lincoln has adorned the coin for 95 years. Getting rid of the coin would be getting rid of an item that pays homage to one of the greatest former leader of this country.” Stated in Source 4 “The penny should stay” by Grace Harter. If the penny was so popular like source 4 states, why does it state otherwise in source 3 “Abolish the Penny” by William Safire, “Two-thirds of them immediately drop out of circulation, into piggy banks or—as The Times’s John Tierney noted five years ago—behind chair cushions or at the back of sock drawers next to your old tin-foil ball.Quarters and dimes circulated; pennies disappear because they are literally more trouble than they are worth.” summarizing that all up, the majority of the time people just toss pennies to the side, they are useless and should be abolished.
Athletes are way too overpaid and are not responsible enough to handle all their money. To start off, 78% of athletes are either bankrupt or in financial trouble two years into retirement. This is because they will buy anything. These people think that they have an infinite amount of money, but when they suddenly don’t receive that giant check, they’re gone. Next, many
Thousands of schools across the nation have been debating whether or not their after-school sports should remain or be removed. These schools would save thousands of dollars and be able to afford other things if they cut sports from their budget. Therefore, schools should eliminate sports completely because they can cause financial difficulties for the district, contribute to low academic scores, and keep students from doing other activities. Many schools have after school sports that are overloading their budget, when they could be spending it on things in the classroom. According to an article by Amanda Ripley, “New bleachers can cost half a million dollars and maintaining a grass field can cost more than $20,000 a year” (10).
Minimum wage helpful or disastrous for Americans Did you know that millions of minimum wage workers cannot make enough money to be over or at the poverty line level and are actually a lot more below it instead? There have been many issues on the topic of increasing the minimum wage from ten to fifteen dollars because it can cause inexperienced workers having a tough time getting or looking for jobs, families not being able to live on the minimum wage the way it stands now, and businesses not being able to create more jobs to hire more workers. For instance, an author named David Neumark believes that the effects of the minimum wage have a major issue that increasing minimum wage can reduce the numbers of jobs and pretty much screw over workers
Moreover, this uneven distribution of wealth has contributed enormously to increased poverty and deprivation in the US. In fact, 1 in 7 Americans today experience hunger and 16 million children live in poverty. Additionally, too great economic inequality prevents the economy from growing. In view of middle-class worker’s reduction or stagnation in salaries, they have less disposable income to spend. Thus, businesses suffer and must cut costs, which inevitably leads to even more reduced revenues for