Mario Nawfal
Mario Nawfal
DOGE+3.72%
DOGE TARGETS THE PENNY PROBLEM: WHY MINT MONEY THAT LOSES MONEY? DOGE's first revelation exposes an absurd inefficiency: The U.S. Mint produced 4.5 billion pennies in 2023 - each costing over 3 cents to make. This negative-return manufacturing cost taxpayers $179M last year alone. Even worse? These pennies rarely circulate. With 240 billion pennies already sitting idle in American homes (about $7.24 per person), we keep minting replacements for coins nobody uses. It's exactly the kind of bureaucratic waste DOGE was created to eliminate. Canada solved this by eliminating their penny in 2013. Meanwhile, U.S. Treasury Secretary Yellen had the legal power to end penny production but wouldn't even discuss it - proving why we need DOGE to tackle these "small" inefficiencies that add up to massive waste. Source: NY Times Magazine, @elonmusk
Gallery 1
Department of Government Efficiency
Department of Government Efficiency
The penny costs over 3 cents to make and cost US taxpayers over $179 million in FY2023. The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11.4 billion coins for circulation produced. Penny (or 3 cents!) for your thoughts. Sources:
Sourced fromtwitter
258.86K
2.91K
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.