Senator Tom Coburn (R-Okla) Proposes Eliminating the Dollar Bill
steve229
From his “Back in Black†Deficit Reduction Plan:
Replace the $1 Bill With $1 Coin
The Treasury Department should phase out use of the $1 bill and replace it with the $1 coin.
Paper-based currencies wear out faster than coins, and so cost taxpayers more in the long run.
According to GAO, starting in the 1980's, “Over the last 47 years, Australia, Canada, France,
Japan, the Netherlands, New Zealand, Norway, Russia, Spain, and the UK, among others, have
replaced lower-denomination notes with coins.â€
WTF? – this idea is just plain “loonie.†(Also, does AC/DC know about this?)
http://coburn.senate.gov/public/
Replace the $1 Bill With $1 Coin
The Treasury Department should phase out use of the $1 bill and replace it with the $1 coin.
Paper-based currencies wear out faster than coins, and so cost taxpayers more in the long run.
According to GAO, starting in the 1980's, “Over the last 47 years, Australia, Canada, France,
Japan, the Netherlands, New Zealand, Norway, Russia, Spain, and the UK, among others, have
replaced lower-denomination notes with coins.â€
WTF? – this idea is just plain “loonie.†(Also, does AC/DC know about this?)
http://coburn.senate.gov/public/
22 comments
I tend to agree with one of the comments above about real Americans. I think all of those coin countries are also on the metric system.
As for how to tip strippers, bring back the two dollar bill, but let's make this bill interesting also. Put Reagan on it, and on the back, the Iwo Jima memorial.
SCs could just sell you funny money to use for tips and card readers for everything else.
Of course for the dancers it is all about the money. I know a club in Alberta that caters to high wage oil patch workers. When the club is full a dancer can pick up $200+ during the loonie/toonie toss after each stage show she does. Four or five sets per day can add up to serious money! Most Alberta clubs have change machines to convert $20 bills into loonies for the customers' 'pleasure'.
Most dancers now have mini magnetic vacuum devices to pick up coins from the stage floor. (Loonies and toonies are magnetic.) Bending over to pick up scores of coins by hand is tedious but if she is naked some interesting vistas can be presented for one's viewing pleasure!
There was a time when the half cent was a staple of US coinage (up to 1857). One utile factor of this coin was exchanging for peso (centavo?) where 12 1/2 c equaled 1 of the other.
Since I last bought something for a penny, inflation has gone up six fold. Thus for several tusclers, the nickel today has less or equal value/relevance as the penny did not so long ago. We've all probably heard the moniker "pocket change." Consider that CPI has doubled since the late 80's. I haven't heard anyone griping about carrying a couple of quarters change around, current presidential dollars are lighter than 2 quarters and buy what 2 quarters used to.
I also propose ramping up the production of $2 bills. Remaining $1 bills would still be usable in circulation, but phased out. Before the howls of outrage begin on the increased cost of stage tipping, ask yourself what percentage of your total visit budget is consumed by stage tips vs drinks, lapdances, and VIPs. While I don't kid myself that reducing the cost of printing money will be the silver bullet to our nations budget deficit woes, at least some reasonable options should be pursued.
- There was a law passed years ago to mint Presidential Dollar coins to drum up interest, just like the States Quarter.
- The law also stipulate for every 3 President coin, 1 Sacajawea coin has to be minted.
- The dollar coins (all of them) has not been as popular as they thought, so the US Mint spends BILLIONS to store them.
- The coins could be bought with a credit card, with free shipping. In essence, you can buy one thousand $1 coins for $1000 on your credit card every 10 days, earning you points or mileage or whatever your favorite Rewards program is. Most of these buyers would in turn deposit back to the bank, taking them out of circulation. The deal made news on Yahoo, NPR, etc., so the Mint just stop taking credit cards this week.
s bad enough that a few restaurants in the U.S. give change in dollar coins. If they all did it then it would become a pain very quickly. I visit Canada ever year or so and it's very easy to end of with a pocketfull of heavy dollar coins in a single day of shopping.