The Instigator
benjamindaniels992
Con (against)
The Contender
Pro (for)
Anonymous

The USFG should eliminate the penny

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Voting Style: Open Point System: 7 Point
Started: 3/24/2018 Category: Politics
Updated: 3 years ago Status: Debating Period
Viewed: 622 times Debate No: 111467
Debate Rounds (4)
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benjamindaniels992

Con

Round 1: Acceptance only
Round 2: Opening arguments (no rebuttals)
Round 3: Rebuttals/Counter arguments
Round 4: Rebuttals and conclusion (no new arguments)

Resolution: The USFG should eliminate the penny.

Good luck,
Ben

Pro

When the Baby Boomers were young, a penny still had some value. Economist Henry Aaron of the Brookings Institution, a nonprofit research group, reminisces in a 2013 anti-penny screed about paying a nickel for an ice cream cone as a boy. Even during my childhood in the 1980s, there was a candy store not far from our house that sold "penny candy" in jars " one penny for a mini Tootsie Roll, or two for a Mary Jane.

Today, there"s literally nothing you can buy with a single penny " and you can"t do much else with it either. Vending machines don"t accept them, and neither do most parking meters. Even automatic toll booths won"t take them " except in Illinois, the home state of President Abraham Lincoln, whose face adorns the coin.

And if a single penny is useless, a whole bunch of pennies isn"t much better. If you try paying for something in a store with a fistful of pennies, you can expect dirty looks from both the clerk and the other customers " if the store doesn"t just flat-out refuse to take them. Pennies are so hard to spend that many people don"t even bother " they just store them all in jars, or even throw them away. Economist Greg Mankiw of Harvard University argues that pennies are simply no longer useful as a means of exchange: "When people start leaving a monetary unit at the cash register for the next customer, the unit is too small to be useful."

There are precedents for getting rid of coins that are too small to use. Back in 1857, the U.S. Mint stopped producing halfpenny coins " which, according to the historical information calculator at MeasuringWorth.com, had a purchasing power of $0.14 in 2015 dollars. So at the time it was eliminated, the "useless" halfpenny could buy as much as 14 pennies can today. If consumers in 1857 could get along without halfpennies, then modern consumers can almost certainly manage without a coin that"s worth less than one-tenth as much.
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