Find a penny, pick it up, all year long, you'll have that f*cking penny. There is a mounting consensus that the US should retire its tiniest coin.
According to the US Mint, the cost of making a penny in 2015 was 1.4 cents. These cents add up to millions of wasted dollars every year, and in 2015 alone, its production cost taxpayers $39 million. Meanwhile, even my local vending machines won’t accept them for the cent that they’re supposedly worth. Given how hard it is to spend a penny and that the raw materials are worth more intrinsically than pennies themselves, it’s hard to see why the government bothers to continue making them. As Binyamin Appelbaum points out in The New York Times, if the purpose of currency is to facilitate commerce, the penny is clearly failing.
Earners keepers? According to Larry Kudlow, there's a secret history behind the US's history of tax reduction and it involves John F. Kennedy.
On December 14 in 1962, at the Waldorf Astoria Hotel in New York City, President John F. Kennedy unveiled an economic plan that would breathe new life into the stagnant US economy. His focus was on growth incentives; he proposed reducing marginal tax rates for all taxpayers, cutting the lowest earners' taxes from 20% to 14%, and the highest earners' taxes from 91% to 65%. His tax code also closed a series of loopholes and tax exceptions. These measures worked, and the U.S economy grew by roughly 5% every year, for almost eight years.