Making Sense of Dollars and Cents

A detailed Summary of Making Sense of Dollars and Cents


Will the penny survive? During recent years there has been significant debate over whether to keep the penny as part of the US currency or to discontinue production of the penny. Every year the United States Mint produces around 12 billion new pennies, but 6 billion get lost, stored, or disposed of. Even so, a recent poll shows most Americans, such as I, are not ready to say good bye to the penny. The penny should stay because if it were to be discontinued there would be higher prices and inflation, less consumer confidence, less profit for the treasury, more deficit, huge layoffs in the zinc industry, and a general feeling of sadness over the loss of America's oldest coin.

If the penny were discontinued then prices would be rounded off to the nearest five cents. Professor Raymond Lombra, Pennsylvania State University, testified before congress in 1990 that this "rounding tax" would cost Americans $600 million annually!

Abolishing the penny could also erode co


The penny should not be discontinued because it is such an important part of the economy. It should remain in circulation for a multitude of reasons including its cultural value, popularity, importance to the zinc industry and Treasury, and if it were to be discontinued there would be inflation in the economy which will lead to lower consumer confidence.

nsumer confidence in the economy. A 1990 General Accounting Office report found people fearful their money would not go as far if the penny was eliminated because prices would be rounded to the nearest five cents. The reported note this "rounding" made many Americans feel that they are being ripped off by being charged higher prices.

The penny is composed of 97% zinc and 3% copper. This means that for the 12 billion pennies coined each year a lot of zinc is used. If the penny were to be discontinued that would lead to huge layoffs and lost profits in the zinc industry which would harm the economy.

Proponen

Some common words found in the essay are:
Currency Poll, Accounting Office, United Mint, Salvation Army, Benjamin Franklin, Pennsylvania University, , zinc industry, consumer confidence, profit treasury, penny discontinued, rounded nearest five, nearest five cents, prices rounded, penny penny, discontinued prices, majority americans, penny kept, five cents, prices rounded nearest,

Approximate Word count = 651
Approximate Pages = 3 (250 words per page double spaced)

Category: Miscellaneous

join now Save Paper

Related Essays

  • Legalize prostitution misc10 ... are difficult to verify it is common sense that the ... who have given up all other options for money making. ... in the sex industry, cost society in dollars and cents ... 1828 words
  • Customer Satifaction and Customer Loyalty ... However, in dollars and cents, 40 percent is costing companies more than ... client, giving him or her full attention, and making them feel ... The want to sense a ampquotwe ... 1470 words
  • Alfred Hitchcock ... a salary of only fifteen shillings, about three dollars and fifty ... A dark sense of humor was never used more than ... He looks at making a movie, being as simple as ... 1348 words
  • Computer crime ... disabled the computers causing millions of dollars worth of down ... secure access multiports and common sense can prevent computer crimes making victims of ... 3373 words
  • The rise of the city ... all they had on their mind was dollars and duty ... started institution that brought upon a sense of belonging ... would later clean up their shows making them suitable ... 2317 words

Professional Essays

  • Arthur Milleramp39s Drama, All My Sons ... his family and himself is in one sense rooted in ... action have been revealed, he still is making excuses for ... Itamp39s dollars and cents, nickels and dimes war and ... 2824 words
  • All My Sons ... his family and himself is in one sense rooted in ... action have been revealed, he still is making excuses for ... Itamp39s dollars and cents, nickels and dimes war and ... 2794 words
  • Pollution Problems and Economics ... reducing the costs of pollution to dollars and cents ... emphasis on recycling where it makes sense Tietenberg, 1994 ... tends to go against money making sensibilities. ... 4140 words
  • Political Analysis ... The economic aspect of the model refers to much more than the dollars and cents of a ... The sense of mission within the policymaking organization gives both ... 5963 words
  • The Lessonampquot ... FAO Schwartz are able to spend over a thousand dollars on a ... such a resolution, Bambara imbues the story of a sense of hope ... ampquotThe Lesson.ampquot Making Literature Matter ... 1623 words
  • ampquotThe Lessonampquot by Toni Cade Bambara ... FAO Schwartz are able to spend over a thousand dollars on a ... such a resolution, Bambara imbues the story of a sense of hope ... ampquotThe Lesson.ampquot Making Literature Matter ... 1623 words


Saved Paper

Save your papers so you can locate them quickly!

Newest Essays

Testimonials

  • "Thank You So Much!!! You have saved me once again!!!"
    Jack M.
  • "With so many papers to chose from, I was able to get ideas to help me with all of my classes. Thank You!"
    Brian P.
  • "I've used this site for the last 3 years to help me come up with ideas for my papers."
    Sara J.
  • "I use this site every week to help me write my own papers!"
    Rachel W.
  • "I love this site!!!"
    Marie N.
Home Join Now Support
Acceptable Use Policy About us FAQ
All papers are for research and reference purposes only!
© 2002-2009 DirectEssays.com. All Rights Reserved.