Monthly Archives: February 2014

Avoid being penniless

 

By Bob Cox

February 24, 2014

Some opinions, comments and links relating to what is happening in this great nation and, in particular, in Western Colorado.

 

Sometimes I get a little goofy and start thinking about things that most normal people probably don’t allow into their minds. But I figure that my mind has a lot of room left and I may as well use that room to store up some insignificant pieces of drivel that will be in good company with what is already there.

 

My latest bedlamite thought has to do with the lowly one-cent piece, or as most of us know it, the penny. I read recently that it costs the government 1.83 cents to mint one penny. Not many of us will stay in business if we continue to make a product that has a cost of 80 percent more than the value, but the government is not one of us.

 

I cannot seem to find an accurate figure on how many of the nearly five billion one-cent pieces minted each year are still in circulation. I do know this: I do not recirculate a lot of pennies and I suspect I am not much different than most people in that respect. I am betting that there are one hell of a lot of jars and cans full of those lowly one-cent pieces sitting on dressers and chests of drawers around the country. The sad thing is that most of those one cent pieces, while costing more than one cent to make, are not worth much of anything and melting down pennies and nickels has been illegal in the U.S. since 2006. Even if we could sell them as scrap, we would not get much.

 

In fact, those copper-looking coins made before 1962 (with a couple of exceptions) were 5 percent zinc and tin. After 1962 the zinc alone became five percent of the content, then in 1982 the composition changed and today’s one-cent coin is 97.5 percent zinc. So, for the most part, the spot copper price means absolutely nothing for most of those pennies in your jar, but I have a plan.

 

There are a lot of people opposed to discontinuing the one-cent coin. They are afraid that prices will then be rounded up to the nearest five cents instead of the nearest one-cent. They may be right, but can we afford to continue to make the coin at such a loss? I think both sides of the argument can be satisfied with a simple solution. I will call it a path to avoid being penniless, or comprehensive coin amnesty that will bring the penny out of the shadows. We will do it for the kids so they too can some day experience the dream of buying penny candy.

 

During a 30-day grace period, I propose that the government pay each person that puts one hundred or more pennies back into circulation 1.5 cents for each  one-cent coin and, for that same period of time, no new pennies be minted.

Under my plan the government saves .33 cents on each penny put into circulation and injects that money into the private sector economy, creating a sizable amount of cash that will begin circulating immediately around the local stores. Talk about stimulus!

 

Now I know that the total amount saved or created here will likely not even pay for a weekend golf trip for our president and it may well not create a lot of jobs outside of the necessary extra employee or two that the armored car companies might have to hire, but it certainly would be a positive development, especially if we also required that the IRS give a direct tax credit on all income derived from this “One-Cent Reclamation Act of 2014.”

 

Call your senators and representatives. Send them this discursive little note and sit back. This could be fun.

 

Remember, I only send out these missives to those who have asked for them. I do not share your email addresses with anyone and I use the Reagan email precisely because they don’t share or sell the addresses either. If you are getting this because someone forwarded it to you and you don’t want it, tell him or her not to forward any more. On the other hand, if you received a copy and would like to see more of my ranting, simply drop me a line at coxnotes@Reagan.com I will put you on my exclusive, but growing list.

 

Bob

 

© Robert R. Cox 2014

 

 

 

 

 

 

Pay attention Colorado

 

By Bob Cox

February 3, 2014

Some opinions, comments and links relating to what is happening in this great nation and, in particular, in Western Colorado.

 

What a week! First, I must offer my condolences to all those who are in some sort of deep depression because the Denver Bronco blew the Super Bowl. The players will, for the most part, get over it. I wonder about some of the fans.

 

On a more serious note, it is time for all Colorado voters to start paying attention. As a rule, I am not a single-issue voter, but each of those single issues add up and it is time to start doing the math.

 

Last year two Colorado recalled Senate President John Morse and Sen. Angela Giron, both Democrats who supported the expanded gun control laws passed in the Colorado Legislature. A third recall effort against Sen. Evie Hudak was thwarted when Sen. Hudak chose to resign so her party could name a replacement. Now, the Democrats hold the majority in the House by a single vote.

 

There are at least six pieces of legislation, which will be presented in the upcoming session, each will either call for the repeal of the gun control laws or at least modify them to some extent. Proponents of these legislative efforts are may want you to believe that they have only to get any two Democrats on their side to pass any one of these bills. Nothing could be further from the truth.

 

Each of these bills must pass through the House State, Veterans and Military Affairs Committee. This committee is used by the legislature as a “kill committee” and it has earned the title well. The committee consists of six Democrats and four Republicans. So, while two Democrats will make a difference, if they are not among the ones on the committee, everything is for naught. Here is a list of the members:

            Rep. Su Ryden
(Democratic-CO 36) Chair


         Rep. Joseph Salazar
(Democratic-CO 31) Vice Chair


         Rep. Timothy Dore
(Republican-CO 64) Member


         Rep. Mike Foote
(Democratic-CO 12) Member


         Rep. Stephen Humphrey
(Republican-CO 48) Member


         Rep. Jeanne Labuda
(Democratic-CO 1) Member


         Rep. Jovan Melton
(Democratic-CO 41) Member


         Rep. Dominick Moreno
(Democratic-CO 32) Member


         Rep. Dan Nordberg
(Republican-CO 14) Member


         Rep. Ray Scott
(Republican-CO 55) Member


         Rep. Angela Williams
(Democratic-CO 7) Member


 

If you have friends or family in any of these districts, it is time to apply the pressure.

Here are the bills that I am aware of so far:

  1. HB 14-1063: “Deadly Force Against Intruders At Businesses”
  2. HB 14-1151: “Repeal Ammunition Magazine Prohibition”
  3. SB 14-038: “Governor Cannot Restrict Firearms During Emergency”
  4. SB 14-090: “No Background Check For Step-relations”
  5. SB 14-094: “Background Checks And Fees For Gun Transfers” (to repeal mandatory background checks for face-to-face transfers)
  6. SB 14-100: “Repeal Large-capacity Ammunition Magazine Ban”

As always, I encourage everyone to become knowledgeable on the topic before trying to advocate for it.

 

Remember, I only send out these missives to those who have asked for them. I do not share your email addresses with anyone and I use the Reagan email precisely because they don’t share or sell the addresses either. If you are getting this because someone forwarded it to you and you don’t want it, tell him or her not to forward any more. On the other hand, if you received a copy and would like to see more of my ranting, simply drop me a line at coxnotes@Reagan.com I will put you on my exclusive, but growing list.

 

Bob

 

© Robert R. Cox 2014