When I was a kid, a penny might stay on the ground for sometime, but a dime was quickly snatched up by anyone. Many years later, it isn't rare to see a dime laying on the ground and everyone passing it up. Even now, most people hand over a quarter like its some kind of nuisance, happy to part from it. If you ask them for a dollar, then the mental "credit line" opens up in a persons mind, ready for that day when they seek the need for a quick vending snack. I feel that if the $1 coin replaces the dollar, then we will see a great devaluation in the next decade, as people push the $1 into common pocket change. I believe the american dollar will be devalued greatly over the next decade, even more so since gold no longer backed the dollar. I know many people will say, "well the dollar coin has always been around", but it seems our government is really pushing to replace the dollar bill. I think we need to hang on the dollar bill and the penny as long as possible. http://news.yahoo.com/s/ap/20070212/ap_on_bi_ge/money_ap_poll
When you were a kid a dime was probably equal to what a dollar is today. Didn't Sam Walton start out with a Dime Store?
Get rid of the penny, but only on cash transactions. Round down every price that ends in two, and round up every price that ends in three. The number of times a price is rounded up and down would be somewhat close together. I think people can swing an extra three cents on their purchases every now and then. The only problem would be updating all the cash registers, but since most cash registers are computerized now, I think it would only involve a little simple reprogramming.
That would be ideal. I wouldn't even mind rounding up to 8 cents to get rid of the nickel. That's nothing. It's not like your rounding every dollar you spend, just the entire purchase. Everything will end with a 0. Well if that's the case, make the cut-off 4 cents.
I don't get it. I love Richard Pryor and the only movie that I don't recall seeing him in was "Superman III" so this must be from that or maybe another unknown that I haven't seen.
MICHAEL It's pretty brilliant. What it does is where there's a bank transaction, and the interests are computed in the thousands a day in fractions of a cent, which it usually rounds off. What this does is it takes those remainders and puts it into your account. PETER This sounds familiar. MICHAEL Yeah. They did this in Superman III. PETER Yeah. What a good movie. *** PETER That's the beauty of it. Each withdrawal is a fraction of a cent. That's too small to notice. Take a thousand withdrawals a day, space it out over a few years, that's a couple hundred thousand dollars. MICHAEL Just like Superman III. SAMIR Superman III ? - that's it, I have to leave now, ok? (gets up) I have to get my resume ready.
I would have used the dollar coin more often, but it would weigh down my wallet too much. I would have a Costanza wallet then.
