Category: American Values

Will the penny survive? During recent years there has been significant debate over whether to keep the penny as part of the US currency or to discontinue production of the penny. Every year the United States Mint produces around 12 billion new pennies, but 6 billion get lost, stored, or disposed of. Even so, a recent poll shows most Americans, such as I, are not ready to say good bye to the penny. The penny should stay because if it were to be discontinued there would be higher prices and inflation, less consumer confidence, less profit for the treasury, more deficit, huge layoffs in the zinc industry, and a general feeling of sadness over the loss of Americas oldest coin.

If the penny were discontinued then prices would be rounded off to the nearest five cents. Professor Raymond Lombra, Pennsylvania State University, testified before congress in 1990 that this rounding tax would cost Americans $600 million annually!

Abolishing the penny could also erode consumer confidence in the economy. A 1990 General Accounting Office report found people fearful their money would not go as far if the penny was eliminated because prices would be rounded to the nearest five cents. The reported note this rounding made many Americans feel that they are being ripped off by being charged higher prices.

The penny even produces a profit for the Treasury. The difference between the face value of coins and the cost of their mintage produced more than $25 million for the Treasury in 2001 from the penny alone. The penny is composed of 97% zinc and 3% copper. This means that for the 12 billion pennies coined each year a lot of zinc is used. If the penny were to be discontinued that would lead to huge layoffs and lost profits in the zinc industry which would harm the economy.

The penny is part of our nations history and culture. It was the first coin to be minted by the government, with Benjamin Franklin suggesting its original design. Over the centuries, the pennys design has symbolized the spirit of the nation, from liberty to Lincoln. The penny has and is an integral part of the American experience. Take for example the millions of people who grew up with penny candy and other small purchases. Without the penny all this would be lost.

Charities greatly benefit from the penny. Organizations such as the Ronald McDonald House and the Salvation Army rely heavily on the donations from collections of pennies. Also, the elimination of the penny will hurt those who can not afford it the least, the poor and the elderly. Increased prices due to the rounding will fall disproportionally in those least able to afford it because they make the least cash purchases.

The penny should be kept because we live in a democratic country and the majority of Americans support the penny. The fourth annual Coinstar National Currency Poll showed that 65% of Americans believe that the penny should be kept in circulation. Women are the dominant supporter of the penny, with 74% in favor of keeping the penny whilst only 54% of men are in favor of the penny.

Proponents of ending the penny claim the penny is a nuisance. Obviously if the penny is supported by a majority of Americans then it isnt a nuisance. Another argument for getting rid of the penny is that it is a waste of time to make but it isnt a waste of time to the hundreds of workers in the zinc industry, and it generates a profit for the Treasury so they defiantly dont mind printing pennies.

The penny should not be discontinued because it is such an important part of the economy. It should remain in circulation for a multitude of reasons including its cultural value, popularity, importance to the zinc industry and Treasury, and if it were to be discontinued there would be inflation in the economy which will lead to lower consumer confidence.

The penny should be abolished, and no longer be accepted as currency, because it costs more to produce the penny than what it is actually worth, and its value is too low.

The value of the penny is too small to be useful. When people start leaving a unit of cash at the register for the next person, the cash value is too low. Some people see pennies just lying on the ground and don’t even pick it up because it’s worth too little. It’s hard to find something even worth a dollar these days and that’s one-hundred pennies. “The purpose of the monetary system is to facilitate exchange. The penny no longer serves that purpose… It is just wasting peoples’ time — the economy’s most valuable resource…” (Mankiw). No one, besides little kids, express joy when they find a penny on the ground. Some people don’t even bother to pick it up. No machine accepts pennies anymore, either. Vending machines, parking meters, arcade games, and many more no longer accept the penny, except Coinstar. The only thing people still use pennies for is to throw them into fountains.Pennies are also a huge waste of time. Whenever we are paying for something in cash, the total amount almost never ends in a multiple of five cents. It’s costing us more to produce the pennies than what they’re actually worth. If there is one thing that every political party can agree with, it’s that we need to save money. Although the penny is now only five percent copper and 95 percent zinc, “The value of copper rose to more than the value of the penny, meaning they were worth more dead than alive…” (Mankiw). The cost to produce one penny is 1.8 cents. It may not seem like much, but when you also consider that the U.S. produces four billion pennies a year, that adds up to the government spending about eight million dollars more than pennies are even worth. Even though the value of the penny is next to nothing, they still cost money to produce and consume huge quantities of natural resources. Instead, we could put that money towards something that will improve our country, instead of using it to make something that people just throw away.

Most other countries have gotten rid of their lowest value form of currency. Canada, Australia, Brazil, Denmark, Britain, Finland, Hungary, Israel, and many more have already gotten rid of their versions of the penny. Contrary to popular belief, the penny does not keep prices low. If that was true, then the penny would still be able to be used for something, even just for buying a ball of gum at the very least. The biggest group that is fighting to keep the penny, Americans for Common Cents, represents Jarden Zinc, the very company that makes zinc and copper blanks from which pennies are produced. Some believe it is unpatriotic to get rid of the penny, but the U.S. military has already done it. At U.S. military camps, the penny is no longer accepted as currency. Others don’t want to get rid of the penny because Abraham Lincoln is on it, but Lincoln and his memorial will still be on the five dollar bill. Although the penny is a part of our history, its usefulness has passed and it’s time to let it go and move forward. This isn’t rocket science, it’s Common Cents.

The price of zinc has soared over the course of the last few years, and with that the price to produce the penny has gone up. The U.S. Mint reports that it costs nearly 1.6 cents to product one single cent (Grenoble, 2013). A cent that, most of the time, goes unused. There has been a growing debate on whether we should keep the penny or let it go. In my opinion, the U.S. Mint should stop producing pennies because they’re a waste of money, making the penny a waste of time and resources for the U.S. and its citizens.

If the penny is eliminated, prices of goods will have to be rounded, and will therefore be increased. Some people are dissatisfied with the idea that items, which cost $1.01 or $1.02, would be rounded flat to $1.00, but items that are $1.03 and up would end up being rounded to $1.05 (Whaples, 2006). Many argue that this would this would unfairly charge Americans more money than warranted. However, this argument is false due to the fact that the average customer is willing to pay more in change. Most modern-day people don’t see a big deal with paying $1.25 for something that’s already costing them about $1.06- they’re already paying with coins regardless. These days, the majority of people simply don’t regularly carry pennies on their person anymore; they are seen as a nuisance. Usually, people tend to pay with cash, and receive change rather than giving exact change for what they are buying; therefore the penny is basically entirely obsolete within our society today.

The cost of producing pennies -as well as the effect that they have on Americans in generalends up being such a waste. The average American wastes 2.4 hours a year handling pennies, or waiting for people who handle them (Headley, 2014). There is no reason to continue to produce these coins, when most people never use them; pennies will only to continue to become increasing cumbersome for Americans in the future. Not only that, but creating pennies uses fuel, energy, (and, yes, money). Not making any more pennies would mean saving our resources and material for things that matter more.

The U.S. Mint makes an average of 20.27 million pennies per day to produce its 7.4 billion penny annual output (Headley, 2014). If pennies were eliminated, this cost would be totally eradicated, saving our government enormous amounts of money and therefore cutting federal spending so that those funds can then be utilized for other projects and put into other programs that need them. It’s obvious to see that pennies serve solely as an inconvenience to Americans, and when something is an inconvenience, the best thing to do is to remove it. It would save us plenty of money, because taxpayer dollars is ultimately what funds the creation of new coins.

In a nutshell, pennies simply aren’t needed in today’s America. They are insignificant. When most people wouldn’t miss these coins, there is no necessity to continue to waste our resources, time, and energy to produce them. Eliminating pennies would only give more money back to taxpayers and make life easier for Americans who don’t use them and have no need for them. This issue is relevant to life in our society, because the penny is an irrelevant form of currency that we have no need for, and should therefore be eradicated within the next few years.

According to an old superstition, it’s good luck to find a penny on the sidewalk. But whether or not you believe picking up that penny will bring you luck, one thing it definitely won’t bring you is wealth. Pennies are worth so little now that by taking five seconds to pick one up isn’t even worth it. Pennies are so close to worthless that many people, including me, argue it’s time to do away with them altogether. Pennies are pretty much useless and a waste of time. 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 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 flatout 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. If you do use pennies than you usually spend up to 2.4 hours counting and sorting them out,which if you ask me, is a pretty boring way of spending your time. These one cent also cost the government a lot of money. It now costs about 1.6 cents – to make one cent. That means whenever the Mint produces a penny and sends it out to a bank, it’s actually losing money on the deal.

Of course, spending 1.6 cents to make a coin that’s worth only 1 isn’t really a bad idea, because coins are reusable. A single penny could be used for hundreds, thousands, or even millions of transactions before it drops out of use. However, this only works if the coins are actually used – and pennies, as noted above, often aren’t.They’re so hard to use that they end up stuffed in jars or abandoned on sidewalks. This also means that the money we lose is going to waste because it can be used for something more important.

For example, bettering the schools system, buying better military equipment or even funding a new space station. Many people argue that even though pennies seem useless many charities rely on them.I would like to point out that if the U.S. Mint stops producing pennies, they won’t simply lose their value overnight.Instead, the coins will be gradually pulled out of circulation.

However, stores will no longer be required to accept pennies – so consumers will have even more incentive to donate the coins to charity, since they won’t be able to use them anywhere else. Also once pennies drop out of circulation, the nickel will become the lowest-value coin cluttering up people’s pockets. So instead of penny drives, charities could start holding nickel drives, putting out bottles or wishing fountains to collect the new “useless” coins. And since each nickel is worth five times as much as a penny, charities would gather five times as much money with each spare coin tossed into the jar. As you can see there are many reasons as to why the penny should be discontinued. Keeping the penny would cost us more than it’s worth and stop us from using the wasted money on things that would protect our country and even help it grow.

Every year, the United States Treasury Department loses over $100 million on minting pennies. There is a heated debate between people who are in favor of the penny and people who believe the penny should be removed from circulation. The penny should be removed from circulation for three main reasons: the penny costs too much to make, citizens lose money by using the penny, and pennies are hardly used because they do not matter that much anymore.

A penny is worth one cent but they cost 2.4 cents to make which is the main cause of the Treasury Department losing money. “Because the penny costs more than a cent to produce, the Treasury loses more than $100 million per year on the coin’s production” (Fund). Many people believe the penny should stay because of its story and rich history. “Still, for many people, the penny’s sentimental value remains the same” (Shelton). This claim appeals to collectors and historians but one thing they fail to recognize is the fact that even though the coin would not be in circulation, there would still be pennies. The point is, if the penny costs more to make than it is actually worth, there is no point in making them.

Americans lose two cents on every transaction they make. Every year, due to this small loss, Americans lose $50 by using the penny. By eliminating the penny, instead of losing $50, they would lose $18.25. “If someone engages in two such transactions per day, over a year they would lose $18.25 compared with the person given their pennies” (Fund). Some think that if the penny were to be removed, companies would round prices up to make more money. “For instance, instead of paying $29.96 for something, you may have to pay $30” (Save the Penny- Save the Day!). This sounds reasonable but companies would likely drop their prices to attract customers or to see how well their product does. “For example, something currently worth 99 cents may well drop to 95 cents…” (The Cost of a Penny). If the penny were to stop being minted, Americans would lose less than half of what they normally lose.

The final point is the fact that pennies are not used that much anymore. People in favor of keeping the penny have said that the penny does not matter. “Pennies don’t really matter much, so I was happy to give them to someone who could use them” (Save the Penny- Save the Day). The letter that was just referenced explained that charities will suffer if the penny is cast out because penny drives bring in a lot of money. The charity argument is a fair argument however charities do not only rely on pennies for donations to keep afloat. So in short, pennies do not matter much to everyday life and are not needed by charities despite the penny drive efforts.

In conclusion, if the penny were to stop being minted, it would save money for America and the Treasury. It makes more sense to eliminate the penny from circulation rather than keep it for the sentiment. Be sure to tell your local representative your view on the penny.

On April 24, 2019, the final episode of Avengers: Endgame was finally released worldwide, marking the end of an era for the Marvel Avengers series. Although the Avengers is just one of many Marvel series, it continues to captivate audiences. Over the 11 years of the Marvel series, countless people have cheered for these superheroes. It’s as if these stories unfolded right beside them—they’re drawn in by the superheroes’ perfect faces and bodies; they’re addicted to the richly imaginative storylines and supercool movie special effects; and they’re moved by the flesh-and-blood struggles of the superheroes. Undoubtedly, the Marvel series has created lasting memories for a generation and influenced their growth. With each new episode, it becomes the hottest topic in town, drawing great attention from almost everyone.

The popularity of Marvel movies has sparked discussions around two theories. Some argue that the popularity of Stan Lee’s cartoons is an expression of American cultural imperialism. According to Banerjee’s article, ‘ ‘Cultural imperialism’ refers to the one-way flow of media products and services from advanced industrial countries to Third World nations, undermining their cultures, morals, and values.’ Since cultural imperialism emphasizes domination and hegemony, there is no equality between the sender and receiver (Banerjee, I. 2002). This is why many view American cultural imperialism negatively.

On the other hand, some believe that the popularity of Stan Lee’s cartoons is due to American cultural globalization. Compared to American cultural imperialism, American cultural globalization is seen as better for the development of developing countries. American cultural globalization represents a transformation of cultural globalization, where ideas, meanings, and values spread globally through channels such as the internet, popular culture media, movies, and music, intensifying social relations. Furthermore, it emphasizes cultural change, diversity, and interconnectedness within the broader cultural environment (Banerjee, I. 2002).

American cultural globalization entails the dominance of American culture as the global norm, which many view as unfair to other countries. Additionally, American cultural globalization is seen as a trend toward homogeneity that could make human experiences identical everywhere (Watson, J. L. 2017). However, proponents argue that American cultural globalization is beneficial because it focuses more on the autonomy of developing countries and active audiences. It does not erode the cultural identity of weaker countries; instead, it encourages cultural pluralism, stimulating the development of new cultures that blend external influences with local traditions. Despite the homogenizing effect of American cultural globalization on daily life—where people watch the same movies, listen to the same music, eat the same food, and wear the same brands—their original lifestyles are not significantly affected because they can incorporate American culture into their lives.

In conclusion, both American cultural globalization and American cultural imperialism have their drawbacks and merits. They differ in their approaches and impacts. American cultural imperialism is unequal to many developing countries, whereas American cultural globalization focuses more on the autonomy of developing countries. We cannot overlook the interconnectedness and interaction between them. It’s crucial to consider both structural inequalities and active agency. However, which of these phenomena is more beneficial to global development depends on the perspective from which we analyze the issue.