Saturday, April 28, 2012

Penny Talk: Lobbying Gridlock with Coin

A trivial debate begins to unfold in Washington as different parties begin to question the value and production of US pennies. This NewsWorks article explains how countries all over the world have eliminated the lowest cent in efforts to clean up economic inefficiencies and save tax payer dollars. Countries implementing plans include Canada, China, and several nations within the EU. 

Why doesn't the U.S. stop making them and save the taxpayers a few million dollars every year? Lobbyists hired by the companies supplying zinc to the U.S. Mint have succeeded in creating a campaign to retain the penny despite the cost - Americans for Common Cents. They successfully scare Congress into believing that Americans will vote against anyone supporting elimination of the penny to save money. What may seem like an illogical debate around production of worthless pennies continues to be an expense paid for by U.S. taxpayers, and shows another example of political gridlock in Washington, which makes even the simplest and most sensible reforms impossible.

No comments:

Post a Comment