I guess we better start cashing in our jars of pennies? Or will they be worth more? He’s ridiculous with this bs. I’m curious what this does to our economy and currency power. It has to hurt us somehow. Reply if anyone has the answer.
Or maybe point out to him that 1¢ costs 2+¢ to mint is kinda the opposite of $1 taxpayer research dollar returns $2.50 to the economy...so quit f'n with our IDC's.
He has just introduced inflation by increasing the price of everything that can't be expressed in quantities of 5 cents. Prices are never rounded down. Every denomination of currency costs more to produce than its stated value. Even paper dollars are complex prints. Every school child knows this.
Ending the penny is a way to tax the people with more corporate handouts. Corporate will round balances up to the nearest nickle, potentially making an extra $.04 on every transaction. Free billions will be transferred to Walmart, Amazon, etc. It's a scheme to steal more money from us.
Canada was waaaaay ahead of the US when it came to debit card use...cash fell out of favour much quicker because of our highly integrated banking sector
This is his attempt to force inflation on us.
Do you REALLY believe anyone is going to ROUND DOWN to the nearest nickel?
Heck no!
They're going to round up!
On the plus side, penny rounding only impacts cash payments not credit/digital payments... on the down side it caused absolute chaos in Canada for a little bit (and we're the smart country) soooo...have fun!
Most things will be priced accordingly (yes, even the credit/digital ones) if there's no penny. DUH.
My industry still deals a lot in cash
Most folks think it'll be a minimal nuisance, but those pennies will add up.
Since they think it's miniscule, they won't even blink.
Letting Trump win again?
Pricing doesn't change, it's just at the POS where rounding happens. Everything is still annoyingly 9.99, 4.99, 19.99.... that's mere optics to entice.
If you deal with cash, then you will have to get comfy with your cashout being over and under every single time.
If no penny exists, vendors will price everything by the nickel.
Do you think they'd round $1.99 to $1.95?
No.... it will be $2.00.
For those on a budget, like me with no disposable income, it's going to be felt.
Congrats, that you don't have to worry.
❤️
We got rid of the penny in Canada, pricing wasn't impacted (The hundreth decimal place will still exist). I'm all for shit talking the orange criminal but there's no justice in spreading false information. There is a MASSIVE list of real things to be pissed about, raise those.
Based on my own personal experience here in Canada, yes indeed, most stores will round either up or down to the nearest nickel. Many will just round down.
Consider a grocery bill of $100. We're talking about less than a twentieth of 1%. There are other battles more important.
What about all the taxpayer money he wasted by going to the Super Bowl? Secret Service bills were outrageous the first time he was president! Now, he’s just trying to double it, right?
I detest the head MAGAt. But, getting rid of the penny and the paper dollar were great ideas up here in Canada. We were resistant at first. Rounding up or down to the nearest nickle is no big deal. Most folks use debit anyway. The coin looney last for a long time. Paper money not so much.
I guess he doesn't know the primary reason the US still produces 1 cent coins is because it's so widely understood that when economies stop producing the smaller coins they're admitting failure. Australia did it in 1992 with the 1c and 2c coin, and New Zealand ditched their 5c coin in 2006. ⏩
The only reason the US was still producing "pennies" is because they didn't want to admit that they were as vulnerable as those "lesser" nations. It was a matter of national pride, not a mathematical calculation.
Um... I suppose a broken clock can be right twice a day. Dime as the smallest coin actaully makes sense. Pity DOGE is not looking at the the bloated cheques paid out to tech companies
Or...we could tax billionaires more. Also, pennies cost 3.8
cents in total, nickels cost 13.8 cents. So, maybe get rid of both. Or...Tesla can pay some taxes and that would eclipse these costs.
"For far too long, the United States has elected Reichpublicans, who literally weaken lives of Americans. This is so wasteful!! I have instructed them to stop voting Reichpublicans. Let's stop the waste, even one Reichpublican at a time on the ballots"
This is what he’s focused on today? This helps the American people how? Unless this is their way to slowly force us away from cash and have more control🤦🏽♀️
Broken clocks are right twice a day, Canada got rid of our pennies ages ago.. course our pennies are only worth 70% of an american penny so you can imagine the cost savings were obviously 30% better for us
One of the most worrying new developments is that despite court orders and rulings against this administration's actions, Trump and his operatives fully intend to ignore those rulings. They taunt America,the Constitution, and the public with "Whose going to stop us?!"
Even the most corrupt, felonious, treasonous, daughter "dating", wife cheating, oath breaking, casino bankrupting scum bag can be right once.
But the estimated 100 million in savings is literally small change.
It's doubtful that Trump really has the authority to order Treasury to stop minting pennies. Even if he does, he definitely does not have authority to issues laws on rounding at point of sale. No doubt, unscrupulous retailers will take advantage of that vacuum until Congress acts.
I wonder if, of all the tens of millions of Americans that put an X beside Trump's name in November, there are some who are delighted to finally complete their top 5 checklist of things they want to see an end to:
Paper Straws
Kindness
An elected President.
Pennies
The rule of law.
I honestly wonder how much money the US wastes a year on making pennies. They cost like 2 cents each to make. As usual trump only cares about fake wins that have no real positive effect for anyone.
A lot of the countries that use those buy them from us. The US is unlikely to do that, they'll keep printing their little rag bills forever, because 'murica.
It’s weird how Donald Trump suddenly gained the power of the purse.
I wonder what all those guys who used to lecture me about the constitution have to say about it.
No his being at the football game wasted more funds than pennies I doubt he will do that don't count on it. I would more spend time impeaching him out of office
Same. Lots of places have gotten rid of Pennies, we didn’t bother with them while deployed overseas, almost everything is electronic anyway,
ngl, this one is probably the right call.
That's because it's not his idea. The EU did it, Canada did it, then Obama suggested it and the Republic Congress killed it. Now Trump is pretending it was his idea.
Article I Section 8: To Congress is given the power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" However you feel about pennies, this act is just another nail in the U.S. Constitution's coffin. #pennies
Rip the waste from the government? Okay, no more PACs, no paying corrupt Repubilkkkans a cent, fire the corrupt Supreme Court Justices and have all traitors executed. That'll save billions!
Now imagine how eliminating pennies impacts pricing for EVERYTHING. No more 4.99. It's now $5. Those pennies add up. Eliminating pennies will astronomically impact inflation.
Folks say "but it costs 3 cents to make a 1 cent penny!" yup, and that penny is in circulation for DECADES.
Maybe. But also, A price of $19.99 is more psychologically appealing to us than $20.00. It may cause consumers to spend less once they see the actual price.
And if we eliminate the penny, we need to produce more nickels and the US Treasury Department loses far more money on every nickel than it does on every penny.
Trump is attempting to stop all outflows of money to anywhere, except those places that he personally "allows". You can bet that those "allowed" places will enrich him in some way.
What will happen here, and it's a sneaky fuck off move by Trump, is that retailers will start rounding their prices up to the nearest 5 cent. All those, so-called, 2 cent pennies, will all end up useless legal tender that people simply toss away.
Giving Donald some credit when it is due. Small value coins are wasteful. Australia has started at 5 cents for decades. They round up or down in the shops.
Anyone who submitted e file with TurboTax right after IRS began accepting returns get their refund yet? This year is taking longer than last year. It's been accepted but no refund approval after about 12 days. Last year the refund was sent fast.
Generally, I agree with not printing money of any kind. A "credit" economy would allow people to earn spend-able credits by doing jobs that otherwise might not be "profitable," like caring for an elderly parent or children. However, the reason it won't happen is b/c addicts need dollar bills ya'll.
The problem is they paid no tax under the Democrats either. The constitution states We the people, not we the oligarchs. It's time the people took back control. If the Democrats can't get rid of their oligarchs, then the people need to get rid of them. Make that point crystal clear.
A broken clock may be right twice a day, but it should still be thrown away. Throw Musk away. Fire him. From one of the Kennedy Space Center launchpads. Into the Sun.
Obviously, the E-man and T-man teach their children how to count money using $100 bills. Otherwise, the rest of us Americas learn counting money using pennies, centavos and 1-cent pieces.
I hate this rotten orange for about 100 reasons but it's true we've been considering halting the penny for many years now. It's a small problem, but bigger than it sounds. Every administration kicks it down the road. I think a broken, irresponsible, dumbass clock could be right twice a day, maybe.
The President doesn’t have the power to authorize money to not be printed. Only Congress can do this. He does have the power to disperse funds and federal judges have the power to make him. And, it looks like they will. If he continues to defy them it will become a criminal offense.
1/2 Trump has convinced many that he, as president, cannot be arrested or held accountable for illegal actions. I do not believe that his ‘immunity’ extends to those who execute his orders. So, instead of arresting him, why not arrest every citizen or gov’t employee who obeys his illegal order.
2/2 In the military…
If a soldier obeys an illegal order, they can be held criminally liable for any resulting actions, even if they were acting under the direction of a superior. The defense of "following orders" does not apply to illegal orders.
Fine. But don't oulaw pennies. Just incentivize people to cash in their pennies from home to get them back into circulation. Offer a one time 50% premium on depositing pennies at any bank up to $100. Do it once every five years or as necessary.
If pennies are too expensive, then why are we paying for all his vacation trips to Mar-a-lago since he was sworn in? Oh yeah, he makes money from charging the government for his Secret Service detail's rooms.
The topic of discontinuing Pennie’s has been on the table for decades due to the cost to produce & maintain the inventory. Dems & Republicans bounce this one back & forth.
Eliminating the penny makes sense. It’s the responsible thing to do.
I think having to update every school atlas and poster map of the world to add "gulf of American't" will cost a lot more than a few pennies. (intentional spelling). Atlases are expensive to re-print, as are posters, globes and more. And tourist brochures.
Cost 18 cents to make a nickel. Seems like banning nickels would be more cost-effective. Better yet, ban nickels and keep making pennies that are now worth 5 cents.
Comments
"I'm no longer the craziest leader"
Trump is a giant fascist and huge threat to democracy, but the penny should go away.
It's not about saving money. Never was.
I already refuse to pick up a penny if I see one on the ground, it's simply not worth the tiny risk of injury.
How many pennies do you have to not make to pay that bill?
Considering other battles that need to be fought, this isn't worth bothering with.
Canada was waaaaay ahead of the US when it came to debit card use...cash fell out of favour much quicker because of our highly integrated banking sector
Do you REALLY believe anyone is going to ROUND DOWN to the nearest nickel?
Heck no!
They're going to round up!
My industry still deals a lot in cash
Most folks think it'll be a minimal nuisance, but those pennies will add up.
Since they think it's miniscule, they won't even blink.
Letting Trump win again?
If you deal with cash, then you will have to get comfy with your cashout being over and under every single time.
Do you think they'd round $1.99 to $1.95?
No.... it will be $2.00.
For those on a budget, like me with no disposable income, it's going to be felt.
Congrats, that you don't have to worry.
❤️
Consider a grocery bill of $100. We're talking about less than a twentieth of 1%. There are other battles more important.
Fyi, Canada stopped mining them in 2013.
You F!!!!!!!!!!
choose love
https://www-theatlantic-com.translate.goog/ideas/archive/2025/01/hitler-germany-constitution-authoritarianism/681233/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp&_x_tr_hist=true
cents in total, nickels cost 13.8 cents. So, maybe get rid of both. Or...Tesla can pay some taxes and that would eclipse these costs.
Which makes the cost of creating coins quite a bit more.
47 doesn't research anything, just throws cr@p against a wall either in a rage or to see what sticks. And struts around like he "did something".
But the estimated 100 million in savings is literally small change.
Trump's Super Bowl trip and golf trips have already cost $38 million.
Paper Straws
Kindness
An elected President.
Pennies
The rule of law.
It’s like training seals, he wants to see if they’ll clap for there fish.
I wonder what all those guys who used to lecture me about the constitution have to say about it.
What a fraud
https://www.youtube.com/watch?v=U_bjDAZazWU
I think we should go even further, and make quarters the lowest denomination. That's the cheapest you can buy anything these days, to my knowledge.
ngl, this one is probably the right call.
Folks say "but it costs 3 cents to make a 1 cent penny!" yup, and that penny is in circulation for DECADES.
Either way, makes no sense :)
A useful alternative is to get rid of inflation, so the penny becomes worth less than 1 cent.
Irony is beyond dead. It died, reincarnated, and died again over this.
My Bad... 😳🥺
Are vacuums worth anything in a garage sale? 🤔 😲😳😂🤣😂
🤣😂🤣
This newly found trash will amount to millions
It's similar to when the UK got rid of half pennies.
Welcome to the great depression 2.0
Hell. Let him go and try and watch him get smacked down by another federal judge.
If a soldier obeys an illegal order, they can be held criminally liable for any resulting actions, even if they were acting under the direction of a superior. The defense of "following orders" does not apply to illegal orders.
Eliminating the penny makes sense. It’s the responsible thing to do.
Should we increase production of the $2 bill?
The article, along with added extra links, is in this Bluesky thread. Tap above the 'article pic' and scroll ⏬
...i assume the five dollar bill is next up.