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Thread: House GOP wants to cash out dollar bill

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    Re: House GOP wants to cash out dollar bill

    nothing wrong with this at all.

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    Re: House GOP wants to cash out dollar bill

    Hell, I use a debit/credit card. Wouldn't affect me one way or the other.

    I never carry change. If I want a large, heavy mass in my pants...

    Well, you know where I'm going with this.

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    Re: House GOP wants to cash out dollar bill

    First get rid of the god damn penny.
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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by Thunder View Post
    nothing wrong with this at all.
    Heaven help me, I agree with Thunder!

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by pbrauer View Post
    LOL Here is the Tea Party at work, wanting to abolish paper dollars and replace them with coins. Good or bad idea? I don't think coins would work well in my wallet.



    House GOP wants to cash out dollar bill - The Hill's Floor Action
    Well, I could think of a couple reasons why this is a good idea, and a couple reasons why it's bad.

    But if this ever gets enacted, it would at least mean that all the dollar coins currently sitting in vaults just taking up space would actually be used instead of having been minted for no reason.

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    Re: House GOP wants to cash out dollar bill

    But Massachusetts Sens. Scott Brown (R) and John Kerry (D) introduced a competing bill over the weekend, the Currency Efficiency Act. That bill is aimed at protecting the paper dollar from what the senators call a “massive overproduction” of the “unpopular $1 coin.”

    “The $1 coin is misleading because it costs taxpayers so much more,” Brown said. “In fact, we have over $1 billion worth of extra $1 coins sitting idle in vaults, and that’s set to double over the next several years.”

    The Brown-Kerry bill would prevent the minting of $1 coins when a surplus of them exists. The two senators argue that $1.2 billion worth of $1 dollar coins are sitting in the Federal Reserve’s vaults, not in circulation, which is adding to the Fed’s storage costs.
    This argument makes no sense. If you retire the paper dollar, then folks will have no other alternative except to use the sacajaweas and the dead president coins.

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by StillBallin75 View Post
    This argument makes no sense. If you retire the paper dollar, then folks will have no other alternative except to use the sacajaweas and the dead president coins.
    BC teaches you how to be stupid.
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    Re: House GOP wants to cash out dollar bill

    We already tried this...There was big hoopla about the minting of Susan B Anthony 1.00 coins that was going to make the paper dollar bill obsolete.
    The public hated the coins and the faded and stopped being minted....Granted one of the problems was the size was to close to a quarter...If I remember right it was octagonacal in shape...if thats even a word LOL....lemme go find a pic if I can...here ya go and its not Octagonacal..:P

    susan b anthony dollar coin picture - Bing

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by lpast View Post
    We already tried this...There was big hoopla about the minting of Susan B Anthony 1.00 coins that was going to make the paper dollar bill obsolete.
    The public hated the coins and the faded and stopped being minted....Granted one of the problems was the size was to close to a quarter...If I remember right it was octagonacal in shape...if thats even a word LOL....lemme go find a pic if I can...here ya go and its not Octagonacal..:P

    susan b anthony dollar coin picture - Bing
    This isn't really the same thing. The example you gave of the Susan B Anthony coins would be more comparable to the Presidential 1 Dollar Coin Program, the result of which has been that billions of $1 Dollar coins are currently sitting useless in Fed vaults. (And also, until recently, people were buying batches of 1 dollar coins online with their credit cards to essentially get free frequent flyer miles.)

    This proposal doesn't aim to mint so many 1 dollar coins so that they will suddenly become popular and supplant the dollar bill - the aim is actually to do away with the paper dollar altogether so that people have no choice but to use dollar coins, and the goal is essentially cost savings.

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    Re: House GOP wants to cash out dollar bill

    Quote Originally Posted by pbrauer View Post
    This might be a good idea if people like dollar coins, but by all indication they don't.

    The Federal Reserve Stores $1 Billion In Dollar Coins That No One Wants : NPR

    And they keep making more.
    I did not say it was a good idea. I pointed out that blaming it on the tea party is ****ing retarded and explained the arguments for proposing this.
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    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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