Re: It makes Cents to me
- From: "Donald Hovatter" <donnie12@xxxxxxxxxxx>
- Date: Sat, 10 Dec 2005 08:50:16 GMT
"shreadvector" <fred.e.shecter@xxxxxxxxxxxx> wrote in message
news:1134162837.515849.53560@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> Cost to the poor:
>
> http://www.retirethepenny.org/
>
This site holds no water at all Fred.
They are quick to point out pennies are a waste of money, but the figures
they show must have come from someone's imagination.
They say 12 billion pennies are made each year at a cost of 100 million
dollars. They give the illusion of a burden on the taxpayer..........just
short of an out and out lie!
I refer you to page 17 of the 2004 annual report from the US Mint:
6.8 billion minted
Cost to produce and ship to the Federal Reserve Banks. 66.7 million
dollars.
Profit realized, 4.6 million dollars.
http://www.usmint.gov/about_the_mint/index.cfm?action=annual_report
No burden whatsoever on the US taxpayer.
As for their waste of time example, well, that is just silly!
Don
.
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- Re: It makes Cents to me
- From: Donald Hovatter
- Re: It makes Cents to me
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- It makes Cents to me
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