What would happen if we quit making the penny, because after all it costs more to make than it's worth. Then

Question

we could take every single money transaction in the country, from buying a pack of gum to buying a car, and round up to the nearest nickel. Take the difference between the two and apply it to the national debt. 1 to 4 cents isn't much, but added together it could put an end to the national debt quicker than any plan the government has come up with. Would you be willing to do this?

Answer 1

No, because while the money may technically go to paying off the debt, the government would just take this as a go ahead to start spending more.  It would just be like an extra 2.5% tax on all your money.

Answer 2

No, I wouldn't.  The only way I would want to penny to stop being circulated is if they rounded up (3 and up), and rounded down (2 and down).  Why should we give the government more many than we already do.  If they want to decrease the national debt, they should figure out a better way to get the tax money out of the people that don't pay taxes.