The penny should be stopped from circulation
Debate Rounds (3)
1: All Pennies currently circulated as U.S Currency shall be no longer be accepted as commerce by the United States Treasury Department.
A: The production of pennies will be halted immediately.
B: Those pennies not in circulation, but already produced, shall be melted down.
C: The remaining pennies shall not and will not be allowed to be held by any U.S citizen with any intention other than collecting
2: Pennies shall be no longer used as a form of debt payment in the United States or its respective territorial holdings, nor shall it be continued to be produced as a coin of regular commercial circulation.
3: The United States Mint shall be responsible for executing the contingencies of the aforementioned plan, in the interest of the U.S Treasury department.
4: All laws in conflict with this legislation are hereby declared null and void.
5: The plan will take affect January 1st 2015
First round is for acceptance
Anyways, melting down pennies will cost a huge amount of money.
Secondly, halting the production of pennies will discourage the use of pennies; and therefore, make it harder for future penny collectors to collect old pennies.
I do not see any reason why pennies should be abandoned; it costs money and results in no benefits.
I do not have much time; therefore, I will stop right here.
1: Pennies in circulation: 200 billion, totaling 2 billion dollars
2: Cost to produce a penny: 1.99 cents
3: Pennies created in 2013: 7 billion, totaling 70 million dollars
Doing some math we can see that if we make 7 billion pennies in 2013, and it costs 1.99 cents to make a penny then we spent 13,939,000,000" (13 billion 930 million cents) to make our pennies in 2013. That's a total of 139,390,000$ (139 million 390 thousand dollars) to make our pennies. As a total, we are losing 69,390,000$ (69 million 3 hundred and 90 thousand dollars).
Based on these statistics and the total losses provided by these pennies there is no reason to not pass this plan, we would also be making up for some of these losses by melting down these pennies and using the metal for other enterprises.
An interesting thing to consider about this is that it has been done before, in 1857 the half penny was eliminated. There were no serious side affects and the value of the dollar was much higher. When no serious side effects came into play when the value of the dollar was higher, it is clear that it will have minimal side effects on the current economy.
henry2833 forfeited this round.
1 votes has been placed for this debate.
Vote Placed by Iamaconfederate 2 years ago
|Agreed with before the debate:||-||-||0 points|
|Agreed with after the debate:||-||-||0 points|
|Who had better conduct:||-||-||1 point|
|Had better spelling and grammar:||-||-||1 point|
|Made more convincing arguments:||-||-||3 points|
|Used the most reliable sources:||-||-||2 points|
|Total points awarded:||7||0|
Reasons for voting decision: ff
You are not eligible to vote on this debate
This debate has been configured to only allow voters who meet the requirements set by the debaters. This debate either has an Elo score requirement or is to be voted on by a select panel of judges.