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Elon Musk, billionaire businessman, and a member of the cabinet known for his leading and sabotage innovations, including Tesla, Spacex and Neuralink, was frank about his belief that the United States should be Eliminate a penny.
Although he is not the first person to defend this change, the MUSK effect and the explicit nature have brought a renewed attention to discussing whether the shark still has a place in the modern economy.
The issue is against Benny
The argument for Get rid of a penny Not new. Economists, policy makers and financial experts have long discussed its practical contradiction. The last time I remember using a penny was in the store with “giving one penny, take a penny.”
Economists, policy makers and financial experts have long discussed the practical application of the People. (Getty Images)
Here why will Musk be the final motivation in removing a shark (and possibly other currencies) from our daily life.
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1. The century is equal to less than its cost to produce it
One of the most convincing reasons for getting rid of a shark is that it costs its production more than its nominal value. According to American mint, it costs about 2.7 cents to manufacture one penny. Talk about Dog!
This means that taxpayers are effectively losing money every time a new penny is declining. The United States government spends Hundreds of millions of dollars The production of pennies that are barely used in daily transactions. Dog said at X that in 2023 the number was 179 million.
Musk, who built his career to improve efficiency – whether in electric cars, space travel or artificial intelligence – believes that this is a clear waste of resources. And you know what, it is right!
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This is about a new government of healthy sense. From the perspective of work, it does not make sense to continue to produce an element that costs more than it is worth.
2. The pennies are economically ineffective
Regardless of production costs, pennies slow transactions. Whether in a cash record, a selling machine or kiosk, the treated pennies take time. Companies and consumers alike lost endless hours every year in counting and dealing with these low -value metal currencies.
By removing a The sect is almost no valueCash transactions can move faster, benefiting from both companies and customers. Most people believe that checks will be old at this point, but people still use them. But certainly, most people know that the pennies have no place in our daily life.
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3. The inflation made an outdated shark
When a penny was first offered in 1793, he had a great purchase force. Today, he buys anything almost. Ergonization of inflation The value of Benny to the extent that many people refuse to pick up one of the ground.
Elon Musk arrives at an internal presidential installation event in Washington, DC, on Monday, January 20, 2025. (AP Photo/Matt Rourke)
In an era in which digital payments and credit cards dominate, Benny's role in daily trade is diminished. There is a reason that the dollar tree barely has anything to cost a dollar anymore.
Society develops with technological progress and many forms of digital payments. Most people use credit cards, discount cards, Venmo, Zelle, PayPal and perhaps the coin in the future.
What can you really buy against a penny anymore? When I was 20 years old, it was 12 compressed tablets from Colombia's house. Not anymore.
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The effect of musk and its general reaction
Why musk is the leader to make this change? For one, his views bear the weight socially and politically. As CEO of Tesla, Spacex, Neuralink and other projects, he has huge followers. When he talks about an issue – even one apparently a minor like eliminating a penny – people pay attention.
ELON Musk arrives on the Eve New Year at Mar-A-Laggo Club on December 31, 2024, in Palm Beach, Florida. (EvCategui/Getty Images)
Use musk social mediaSpecial X (Twitter), to express his ideas on various economic and financial issues. Its effect in pushing policy makers can help think seriously about getting rid of sharks, especially if he continues to highlight his inefficiency.
However, not everyone agrees with musk. Some Americans have an emotional association with forgetfulness, especially because of its historical importance and its association with President Abraham Lincoln. Others are concerned that getting rid of a shark may increase prices instead of declining, which effectively increases the costs of consumers.
What would happen if a penny is eliminated?
If the United States is following the Musk proposal and gets rid of a penny, many changes will happen:
Close transactions: Prices are likely to be rounded to the nearest five cents. Studies from other countries Like Canada,, Which was canceled in 2013, showed that this approximation tends to balance, which means that consumers are not losing significantly.
Decreased production costs: The government can save millions of dollars every year by stopping the production of sharks.
Faster transactions: Cash purchases will be faster without the need to calculate and distribute pennies.
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This must happen over the next four years
Elon Musk's invitation To eliminate roots in logic, efficiency and financial pragmatism. While a shark once served a meaningful purpose, inflation and technological progress made it largely unrelated.
Whether political makers will act on this issue, it still must be seen, but the influence of Musk has sparked the conversation about whether the time has come to become something of the past.
