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Death To Pennies
If you too were a #nerdfighter in 2010, you, dear reader, should know the wrath that only pennies can incite in John and Hank Green brothers.
It’s why today Data for Progress is proud to present Death to Pennies: a poll.
Every year, the U.S. government produces billions of new pennies. Even though a penny is worth only 1 cent, each penny costs about 2 cents to produce. In 2010, 70 million dollars of federal tax money went to subsidizing the existence of the penny, meaning that the U.S. has lost roughly $840 million over the past 12 years to the production of the penny (enough to pay for the Inflation Reduction Act’s alternative fuel and low-emission aviation technology program 2.5 times!!)
New Data for Progress polling reveals that 58 percent of voters agree that the U.S. government should stop producing new pennies. When voters hear information about this cost, a majority of them agree that the penny is no longer useful in our economy and producing the coins wastes millions of dollars. Though little in politics is bipartisan these days, the death of the penny is a bipartisan winner: 59 percent of Democrats, 60 percent of Independents, and 57 percent of Republicans support ending the production of pennies. (Just over a third of voters believe the U.S. government should continue producing new pennies.)
There is hope yet. Democrats, might we suggest you run on this bipartisan winner in 2022? Read the blog here.
Here are some other highlights from DFP this week:
Secure Social Security
It might not be the sexiest progressive issue out there, but protecting Social Security is one of the most important progressive issues Democrats can talk about in a midterm environment where historically older voters will be turning out at higher rates than younger voters.
Recent polling from Data for Progress throughout June and July finds that voters overwhelmingly support Social Security and want Congress to expand Social Security benefits to help beneficiaries meet rising costs. Republican attacks on Social Security (Rick Scott’s plan to sunset Social Security and Lindsey Graham’s corroboration) are in sharp contrast with public opinion, and Democrats should capitalize on this opportunity to communicate about their efforts to protect and expand Social Security.
Data for Progress polling finds that 86 percent of voters are “very” or “somewhat” concerned that the U.S. government will reduce Social Security benefits for those who currently receive them. We also find that 79 percent of voters are concerned the government will privatize Social Security, and 67 percent of voters are concerned the government will raise the Social Security eligibility age over 62.
Read the full blog here.
When the CHIPS are Down, Corporations Will Still Profit
Today, most of the world’s semiconductor chips are manufactured outside of the United States, primarily in China and Taiwan. However, the bipartisan CHIPS and Science Act aims to make the U.S. a world leader in the semiconductor market. The bill will lower costs, create jobs, and reduce our reliance on foreign nations for essential goods.
To achieve these goals, semiconductor companies will receive billions of dollars in government funding for American chip manufacturing. However, Senator Bernie Sanders (I-VT) has criticized the bill, arguing that it does not stop these corporations from using the funds to outsource jobs or enrich their own shareholders and executives.
The five major companies that will receive the bulk of funding from the CHIPS and Science Act collectively earned over $70 billion in profit last year. Nearly three-quarters of voters think it is important to explicitly prevent semiconductor companies from using taxpayer dollars to benefit their corporate shareholders, including 73 percent of Democrats, 68 percent of Independents, and 76 percent of Republicans.
Read the full blog here.
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