CGP Grey is a youtuber who made a video years ago about stopping printing the penny. when trump announced ending printing the penny, he made basically the same video about stopping printing the nickel, and the dime.
Due to Inflation.
The same reason that Bernie sanders pushed for a $15/h minimum wage, which should itself be inflated from its 2016 amount to 22 bucks an hour.
While I think both of you are making reasonable arguments, I wanted to make fun of the situation.
Sure, I mean, I’m also all for raising the minimum wage, as it’s wildly stagnated against inflation. You can be for that and for getting rid of the penny?
Idk, I just don’t understand how I’m “moving the goalposts”? Or perhaps I’ve just misunderstood the point of your comment.
I actually have seen that CGP Grey video before though, and it’s only gotten more relevant as time has gone on, lol. It doesn’t make it bad policy just because Trump is the one doing it.
Idk, I just don’t understand how I’m “moving the goalposts”? Or perhaps I’ve just misunderstood the point of your comment.
CGP Grey made the video for “get rid of the penny”. When they got rid of the penny, he made the video “get rid of the nickel, and the dime.” When the original goal as getting rid of the penny, once that was achieved, he moved the goalposts to get rid of the nickel.
Your statement is in line with CGP Grey’s (correct) viewpoint.
Pointing this out in a facetious manner is meant to be humorous.
It’s not bad policy because Trump is doing it. The rationale is sound. The bad part of it is zero guidance was given on how cash businesses (virtually all brick and mortar business) are expected to handle the inability to make exact change in the absence of available pennies, leaving them all to figure it out for themselves.
Sure, but does there need to be top down guidance? It seems fairly obvious on its face that you would just round to the nearest 5¢. Or floor/ceil any overage to the nearest 5¢. Those are really the only options, and I’m fine to leave it to businesses to handle which way they want to go on that.
It’s not like the prices a business charges are set in stone by God. They can charge whatever they want. If milk is $1, and bread is $2, but they want everyone who buys milk and bread at the same time to pay $4, they can do that. It’d be a weird and unwise decision, but it’s certainly allowed. So in the same way if they want to charge you $1.50 even though your “actual total” came out to $1.48, that’s absolutely their prerogative, even without the penny going away.
It’ll probably require some changes to PoS systems, and getting that rolled out might be the harder part, to your point. But the PoS guys have until all the pennies exit circulation to figure it out, so that’ll be the better part of half a decade at minimum.
You have to remember, they’re not going out and stealing all the pennies. They’re just not making more. Businesses have a lot of time to prepare for this. This isn’t an overnight process.
…what?
CGP Grey is a youtuber who made a video years ago about stopping printing the penny. when trump announced ending printing the penny, he made basically the same video about stopping printing the nickel, and the dime.
Due to Inflation.
The same reason that Bernie sanders pushed for a $15/h minimum wage, which should itself be inflated from its 2016 amount to 22 bucks an hour.
While I think both of you are making reasonable arguments, I wanted to make fun of the situation.
https://www.youtube.com/watch?v=58SrtQNt4YE < kill nickels
https://www.youtube.com/watch?v=y5UT04p5f7U < Kill pennies
Sure, I mean, I’m also all for raising the minimum wage, as it’s wildly stagnated against inflation. You can be for that and for getting rid of the penny?
Idk, I just don’t understand how I’m “moving the goalposts”? Or perhaps I’ve just misunderstood the point of your comment.
I actually have seen that CGP Grey video before though, and it’s only gotten more relevant as time has gone on, lol. It doesn’t make it bad policy just because Trump is the one doing it.
CGP Grey made the video for “get rid of the penny”. When they got rid of the penny, he made the video “get rid of the nickel, and the dime.” When the original goal as getting rid of the penny, once that was achieved, he moved the goalposts to get rid of the nickel.
Your statement is in line with CGP Grey’s (correct) viewpoint.
Pointing this out in a facetious manner is meant to be humorous.
It’s not bad policy because Trump is doing it. The rationale is sound. The bad part of it is zero guidance was given on how cash businesses (virtually all brick and mortar business) are expected to handle the inability to make exact change in the absence of available pennies, leaving them all to figure it out for themselves.
Sure, but does there need to be top down guidance? It seems fairly obvious on its face that you would just round to the nearest 5¢. Or floor/ceil any overage to the nearest 5¢. Those are really the only options, and I’m fine to leave it to businesses to handle which way they want to go on that.
It’s not like the prices a business charges are set in stone by God. They can charge whatever they want. If milk is $1, and bread is $2, but they want everyone who buys milk and bread at the same time to pay $4, they can do that. It’d be a weird and unwise decision, but it’s certainly allowed. So in the same way if they want to charge you $1.50 even though your “actual total” came out to $1.48, that’s absolutely their prerogative, even without the penny going away.
It’ll probably require some changes to PoS systems, and getting that rolled out might be the harder part, to your point. But the PoS guys have until all the pennies exit circulation to figure it out, so that’ll be the better part of half a decade at minimum.
You have to remember, they’re not going out and stealing all the pennies. They’re just not making more. Businesses have a lot of time to prepare for this. This isn’t an overnight process.
im more wondering about banks. what happens if I want to withdraw a dollar and one cent. businesses can just adjust their pricing.