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CENTRAL ILLINIOS | What has ruined the penny is inflation and excessive money printing in Washington. My first paying job bucking bales - we got paid a penny a bale. Now I would not bend over to pick up a penny in the parking lot. If you wanted to make $10 per hour picking up pennies you would have to pick up 1000 in an hour. Most people couldn't do that.
I think most older people (Like me) have lost track of how much inflation has changed things. Almost everything is ten times more expensive now than when I was a kid. A postage stamp is a good example. A 70 cent postage stamp gets you exactly the same thing a 7 cent stamp got when I was young - a letter picked up at one address and delivered to another address. So a dime today will get you what a penny used to.
They won't eliminate the penny because they don't want to have to admit how much the excessive money printing has devalued our currency. | |
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removing pennies
