Should We Get Rid of the Penny Scholastic PDF Form
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People also ask
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Why should the penny be removed?
Pennies are made of zinc and copper, and zinc can be harmful: Zinc's mining and industrial use has negative environmental and health impacts. During mining, smelting, and other industrial processes, zinc can leach into the soil, water, and air, and cause health concerns for those living nearby.
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Should we get rid of the penny scholastic?
Vending machines don't take pennies, and you'd have to save up hundreds of them just to buy something as simple as a candy bar. If we got rid of pennies, the government might have to make more nickels. In 2023, it cost more than 11 cents to make each nickel! So the government might not save any money after all.
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Why should we keep the penny?
Proponents of keeping the penny in circulation say that its use avoids increased prices that will hurt low-income households the most, that pennies have a long lifespan and are more cost-efficient to manufacture than nickels, and that pennies are vital to several charities' fundraising efforts.
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Is it worth it to save pennies?
A penny saved gains more than just dust -- it gains interest. Although interest rates aren't great and you can't exactly invest just pennies in the stock market, there is still great value in saving and investing your money to whatever degree you can.
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What are the cons of getting rid of the penny?
Eliminating the penny could harm low-income families. Because prices would be rounded up and because the people who use cash the most are the poorest fringes of American society, the poor would be most affected economically by the penny's removal.
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Is making pennies bad for the environment?
3) They're bad for the environment. Pennies nowadays are made up of 97.5% Zinc, which is hazardous to mine and gives off deadly fumes to refine. Copper makes up only 2.5% of the composition.
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What is the main idea of the penny debate?
The main argument in favor of eliminating pennies is financial. Pennies are always worth one cent, but the costs of buying metal, stamping it into coins, and then sending the coins to banks changes all the time. ing to the U.S. Mint, making a penny has cost more than one cent every year since 2006.
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Should we keep the penny pros and cons?
Pro 1: Preserving the penny keeps consumer prices down and avoids harming low-income households. Read More. Con 1: The penny has practically no value and should be taken out of circulation just as other coins have been in U.S. history.
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