The year prior— 2010— taxpayers lost $27.4 million, and in 2009, they lost $19.8 million (Source #1). In Source #2, the text states "Pennies are "too heavy and not cost-effective to ship,”" You may ask, "what does cost-effective mean? Well cost-effective means "producing desirable results without costing a lot of money" (Source #2). As we can see, they cannot produce pennies without more money than the pennies
The penny has been used in many day to day scenarios and is recognized throughout history and even dates back to the Frankish Empire. However, many people see the penny as useless and not cost-effective. The reasoning behind this thinking is that the penny cost more to produce than its actual value, and they take up too much space and time. The cost of pennies is causing a lot of unwanted debt due to pricing for the materials. The United States mint confirmed in 2014 that,”...each zinc and copper coin costs 2.41 cents to produce and distribute”(Sommer, 4).
On average the Federal Mint spends 1.4 cents for every penny that they create. This doesn’t seem like a big deal, but considering that there are 13 billion pennies created annually in the US the cost for creating them gets very large very fast. Making them cost more to create than their actual value. Eliminating that cost would allow the budget spent on the Federal Mint to be reduced and there would be more cash in the Federal Budget to spend on other things. One argument against the elimination of the budget is the fact that it will alter the way American citizens are able to pay for things in a negative way.
Introduction: The copper content of U.S. pennies has declined over the years due to rising prices. The expensive metal makes up just 2.5 percent of one-cent pieces minted in 1982 or later; nickels, dimes and quarters, on the other hand, are mainly composed of copper. Still, today’s pennies cost more than their face value—an estimated 1.8 cents each—to produce. In this lab, we analyzed penny mass to determine patterns between the masses. We came up with 30 different pennies and split them into trials.
One reason is what is Obama doing with military money.Obama had given 150 billion dollars and is pitching a fit over 38 billion dollars that we are using for our defense Our military already do not get paid enough per month.They get paid 1416.30 at the closest per month.Which is not a lot at all. So I think that that is why soldiers should make more. I think that that baseball players should not make as much money as they do.They make an average 3 million a month. That compared to military is a huge gap.The worse that can happen to them
Furthermore, as the federal poverty line is considered to be roughly $23,050 for a family of four the population that falls below that level take up nearly twenty percent meaning that these families without aid will not have the ability to attend college. Ultimately, free education as a whole may be a great idea to bring America up in global education levels along with stopping the continuous growth in student debt however at this point in time it seems impossible. In addition free higher education in the United States would require a complete reshaping of the economy as the U.S has a national debt that is reaching near twenty trillion dollars along with the recent president elect Donald J. Trump being a member of the top 1% the consideration of the lower and middle class people will likely be overpassed for the businesses of the
But that is not the case. As we see, not going to college will actually cost students more than going in the long run. According to New York Times, “The true cost of a college degree is about negative $500,000. Over the long run, college is cheaper than free. Not going to college will cost you about half a million dollars.” Many people have the idea that not going to college will save money but it 's the exact opposite, people will actually lose money by not going to
Furthermore, an average American Indian household living in Pine Ridge will take home about half the U.S. median, and this income is likely welfare allowing them to survive. Paths out of poverty are simply not present on Pine Ridge: job opportunities are scarce, and the unemployment rate is estimated to stand at 80%. Despite the extreme poverty of Pine Ridge, the federal government has been loath to support it for decades, and even that minimal help has been threatened by the current political climate of budget
Canada should increase the amount of aid that it gives to other countries and, not to increase the amount of aid that it gives to aid itself. Primarily, in the recent years, Canada is not meeting its expectation from the United Nations on the total foreign aid spending and currently, Canada 's aid spending dropped to a 0.24% of GDP in 2014, down from 0.27% the previous year. That is significantly below the United Nations’ target of 0.7% of GDP which Canada is not close at all to. Instead of increasing our aid as more casualties follow, our aid is decreasing significantly for reasons that are not as important. “Over the last decade, Canada has been a diminishing actor in foreign aid, with spending falling to $4.2 billion in 2014, down from $5.6 billion two years earlier, ” states Jim Coyle, a valid journalist from the Toronto Star.
The National Research Council shows that households of illegal aliens imposed more than twenty six billion dollars in costs on the federal government in 2002 but paid only sixteen billion dollars in taxes, thus creating a net fiscal deficit of almost two thousand seven hundred dollars per illegal household. Among the largest costs are Medicaid, social security, treatment for the uninsured, food stamps, and free school lunches. Also the federal prison and court systems, and federal aid to schools. Nearly two-thirds of illegal aliens lack a high school degree, the primary reason they create a fiscal deficit is their low education levels and resulting low incomes and tax payments. Most of the costs associated with illegals are due to their American-born children, who are awarded U.S. citizenship at birth, thus the illegal federal programs will not reduce costs because their citizen children can continue to access
There is a decrease in the annual yield of income taxes alone from $2,400,000,000 in the years of prosperity to only $1,200,000,000 today.” Simply put, President Hoover the leader of the American government did not have the money to pay the WWI veterans their bonus. In a show of respect for President Hoover and the financial crisis the American Legion did