IceWeaselX
872
34
3
https://www.cnn.com/2025/05/25/business/penny-what-happens-to-them
"There are an estimated 114 billion pennies currently in circulation, but they are 'severely underutilized' according to the Treasury department. Many are at home in coin jars or junk drawers, or some other forgotten location gathering dust."
Other estimates are as high as 240 billion, but 114 billion is the official estimate from the US Department of Treasury.
https://www.forbes.com/real-time-billionaires/
According to the Forbes Real-Time Billionaires List, the 11 wealthiest Americans (rank is global, 2 of the top 10 are not American) each own assets worth MORE DOLLARS than there are PENNIES IN CIRCULATION.
Again, for the people in the back: If you had a dollar for every penny currently in circulation, THESE PEOPLE WOULD STILL BE RICHER THAN YOU.
https://www.cnn.com/2025/05/24/politics/house-tax-spending-cuts-bill-explained
Republicans are pushing forward with yet another scheme to transfer wealth from the poor to the wealthy. More tax cuts for the rich, and more cuts to services that help people who need it.
FUCK REPUBLICANS.
Wuz314159
I have been to many countries that have abandoned their penny. The Aussies taught me a trick. When buying petrol, pump to 2ยข because they round down.
BosunMark
I agree with your post, but, I don't really see the correlation between #2 and #3 with the first. Are you claiming elimination of the making of pennies will help the wealthy and hurt the poor?
YuffieK
The war against these machines:
Clockworkdancerobot
wait, I thought stopping producing pennies as a good thing. It saves money and makes transactions easier.
ImgurIsOutOfUsernames
The part that hurts "the poors" is in the bill, not the bit about the pennies :)
IceWeaselX
I'm fine with the death of the penny, I only included that article because it stated the official estimate of how many are in circulation, which made for a really disgusting comparison to the wealth hoarded at the top.
Clockworkdancerobot
Ah, the title made it seem like the first image and bit was linked.
Fiss
Honestly, I'd be less worried about pennies and more of the whole "trillions of dollars being siphoned to the billionaire/millionaire class" bills being passed right now. Canada has pretty much eliminated physical pennies but we still deal with them virtually, not the biggest issue right now.
Fiss
Still, giving you an upvote because you're not wrong....200 billion being 'phased out' in a bad way could be an issue.
ImgurIsOutOfUsernames
Yeah, the pennies isn't cause for concern. That's just there to provide perspective. Like saying "if Elon Musk spent $1 million a day, it would take 1030 *years* for him to spend all the money he has right now."
Fiss
Absolutely, it's important to count the pennies but also the people making everyone's elses' pennies work for or against them.
It adds up fast. Something, Something Compound Interest.