I know that the penny is near and dear to all of our hearts, but it's quite a burden on our economy! Why? Well, a lot of reasons.
-It costs more money to make a penny than a penny is worth.
-If the penny is eliminated, prices will stay the same. (Seriously. Australia, New Zealand, Canada, and other countries have already done this and all that happened was that the government saved money!)
Lots of other reasons. But let's think about this for a second.
Let's say you buy an ice cream cone from a store that, after tax, costs $1.16. In any way that you pay with cash, you're getting 4 pennies back. And what can you spend your pennies on? Nothing. Parking meters and vending machines don't take them, and if you are using exact change, you're wasting time and time is money.