>Columbia
Why do we still have a penny coin when it costs more to make than it's worth?
One theory:
Whose face is on the penny? Which state's favorite son?
Abraham Lincoln, from Illinois.
Why does this matter?
Illinois: 19 electoral votes
It also costs about 11.4 cents to make a nickel.
DOGE needs to get rid of the nickel as well.
When dealing with cash and change, just round up or down to the nearest dime. For credit card and other digital/electronic transactions, the current practice of 1/100ths of a dollar can be maintained.
No need to collect and destroy the current circulation of nickels and pennies.
Allow the current supply to be bought up by coin collectors or melted for scrap value.
Just make a law that as of a certain date, they no longer are allowed as legal tender.
Another way to deal with the penny issue is to create all new currency (so it won't be confusing as to what is 'new' money and what is 'old' money) then exchange the old for the new at a rate of ten old to 1 new. Bank account balances would be instantaneously changed by a factor of ten as well ($1549.57 would become New$154.96).
Then, if we want a penny and a nickel coin in the new system, they would actually be worth more than it costs to make them.
The states will have to work hard if Trump eventually gets rid of income tax. In many states, any deductions allowed on federal income tax are also allowed for state income tax purposes. Those states will have to work hard to create their own definitions of allowable deductions.
OR
States could just migrate to a flat tax, with a higher minimum income to have to file at all.
I know… too much to ask all at once, but wouldn't be great to put tax preparation services, tax accountants, and tax lawyers out of business?