[StBernard] We're from the government and we'er here to help

[Westley Annis]

Most merchants have this factored into their prices already. Remember, any
fees or taxes collected by a business are not really paid by the business
but are simply passed-thru from the customer.

In a more detailed look, but still simple terms, a credit/debit card
transaction will cost typically cost 30 cents per transaction plus 2.5% of
the value of the transaction. The merchant also pays a monthly fee that
starts at $12.00 month and can go much higher depending on equipment rental
fees.

Where this will really hurt is with retail stores that rely on impulse
purchases and gas stations. With a tank of gas for even small fuel-efficient
cars topping $50, this could hurt the economy even more.

The GAO, as it has for a couple of decades now, is trying to get rid of
dollar bills in favor of dollar coins. If people start switching to cash,
they will want more dollar bills because coins are too heavy (no one will
ever agree with those who suggest we should even drop pennies and nickels by
just rounding everything to a quarter).

This is one of those changes in the law that a bureaucrat dreams up with no
idea of how it will impact the common man on the street. If you walk around
with a black label American Express for those few times that you actually
have to pay for something yourself, as opposed to having a lobbyist pay it
for you, how can you begin to know the real struggles of Joe the Plumber?

Westley

-----Original Message-----

On the other hand, I'm sure the merchants will be happier paying lower
transaction fees, don't you think?

JY




	-----------------------------------------------------
	Obama and the liberals and Washington continuing to prove Reagan was
right
	when he said those were the most frightful nine words that could
ever be
	uttered.
	
	The Dodd-Frank financial reform bill that was passed last year is
starting
	to reveal some its "unintended" consequences.
	
	I have mentioned to others that this law along with Obamacare would
reverse
	the trend of moving to a plastic economy back towards a cash
society. Higher
	taxes and fees means everyone will look at ways to reduce those
taxes and
	fees. Cash is the simplest way to do so.
	
	
http://money.cnn.com/2011/03/10/pf/debit_cards_limit/index.htm?hpt=T2
	
	Westley