McCain Hopes $1 Coin Will Lead to Better Tips for Strippers

(Image source: United States Senate) 
BY CANDICE AVILES It looks like Sen. John McCain hopes the $1
coin will lead to better tips for strippers. Yes, you heard me right. $1 coin … better
tips for strippers … John McCain. Let’s back up a bit. “The Arizona senator, along with others, is
pushing a measure called the COINS Act, which would replace the dollar bill with the dollar
coin.” (Via WDAF) It’s officially called the Currency Optimization,
Innovation and National Savings Act. It’s been introduced in the past, but McCain’s
recent push has it back in the media. The benefit of the change? (Via CNN) “McCain says using the coin would save taxpayers
nearly $14 billion over 30 years.” (Via KSAZ) While lawmakers were taking questions about
the COINS Act, a reporter from The Hill asked if strippers would suffer because garter belts
don’t hold coins very well. That’s when McCain said, “Then I hope that
they could obtain larger denominations.” McCain began smiling and, as he walked down the Capitol
hallway, reportedly yelled: “Fives, tens, one hundreds!” Quite the response. The question stems from
a 2011 story by the same Hill reporter. She interviewed strip club owners about the
switch to dollar coins and got this gem of a quote: “You can’t put a coin in a garter
belt.” (Via The Hill) As for the Arizona senator, he has a reason
to push for the change, besides helping strippers make ends meet. Arizona stands to profit from the switch to
coins because it has some of the country’s biggest copper mines, an essential element
in coin production. (Via The Huffington Post) Although no votes have been cast on the bill
just yet, it would call for Federal Reserve banks to stop circulating $1 paper bills within
five years of the act going into effect.

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