Every so often, Uncle Sam announces something that makes taxpayers stop, blink, and ask, “Wait… we’re still doing that?” Now that conversation has landed squarely on the humble penny. Yes, the little copper-colored coin that costs more to make than it’s worth, that falls between couch cushions like it’s trying to escape the junk drawer, and that we all secretly wonder what to do with when we get it back as change. Last week, Treasury Secretary Scott Bessent personally minted the last five of their kind. And many Americans say this with love: it’s about time. You know inflation is bad when even money is worth less than the metal it’s made from.
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Houston, We Have No Taxes
You know how you sometimes hear about highflying companies sending miserly tax checks to Uncle Sam? Well, buckle up — SpaceX might just be the star of that show. According to a New York Times exposé, SpaceX has privately told investors that because of a 2017 tweak to the Tax Cuts and Jobs Act, it may never have to pay federal income tax, even if they do succeed in helping mankind colonize Mars.