Comments for The Post Passes Along Credit Card Industry Propaganda at http://www.cepr.net , comment 1 to 7 out of 7 comments http://www.cepr.net Sat, 25 May 2013 10:41:13 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/the-post-passes-along-credit-card-industry-propaganda/#comment-790 See Bubba, our lobbying strategy worked for our chain of "All-You-Can-Eat Frog Legs and Fries Redneck Huts". All we have to do is change the name to "You-Must-Eat-At-Least-This-Much" to satisfy a minimum purchase level for those using credit cards, then for the socialists on food stamp welfare with prepaid or debit cards, they can sit in the "All-You-Can-Eat-And-Stuff-Even More-In-Your-Bags-And-Clothing" Section, as part of our marketing and redistribution plan to survive the recession. - izzatzo Wed, 02 Jun 2010 10:50:49 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-post-passes-along-credit-card-industry-propaganda/#comment-784 A correction at the top of the article in the Post states: The article should have noted that the amendment allows merchants to set minimum purchase thresholds for credit cards but not for prepaid or debit cards. Since the cards issued by the states to food stamp clients and others are issued as pre-paid cards, it would seem that the state treasurers no longer have a dog in this fight. They should butt out. There is more than enough lobbying effort already being expended on this bill. - Queen of Sheba Wed, 02 Jun 2010 08:08:42 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-post-passes-along-credit-card-industry-propaganda/#comment-770 If you have a significant number of already-paying-cash customers, a cash discount doesn't help. If you make the discount large enough to convert credit card users, you give a discount to a lot of people without a change in their cash-paying behavior. The only alternative is a higher advertised price then a cash discount, but that hurts as your sticker prices becomes higher and you'll drive customers away entirely. The "no extra fees for using credit cards" piece of the contract is quite the scam. Cash only businesses please! - BDawg Tue, 01 Jun 2010 22:42:12 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-post-passes-along-credit-card-industry-propaganda/#comment-762 [quote]card companies are using their market power to gouge retailers [/quote] retailers can give cash discounts if they do not like the CC charges. - floccina Tue, 01 Jun 2010 07:39:59 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-post-passes-along-credit-card-industry-propaganda/#comment-761 The Post claim is also contradicted by the fact that companies issuing public benefits reap millions of dollars each year from recipeients because they charge each time (after 1 per month free) that recipients draw down benefits on their cards -- such as food stamps. - Ed Kahn Tue, 01 Jun 2010 06:42:06 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-post-passes-along-credit-card-industry-propaganda/#comment-760 Izzatzo, in his/her wonderfully ignorant and factless style, proposed: "If credit card fees are regulated hundreds of competitive credit card companies will lay off thousands of employees because they can't recover enough cost to stay in business. These employees will end up on food stamps paid for by taxpayers, designed by socialists to act as automatic stabilizers in a recession. " This is not supported by the credit card companies enormous profits. It also ignores the fact that each card will have a different fee to the business - you cannot shop for lower fees as the fees are set by the individual credit card. The business has no idea what the fee will be on a customer's credit card until after it is used, so they have no ability to refuse or tailor their customers' credit card use. This is a leveler of the playing field, a control on what has become a shadow currency, and a job creator. Stupid izzatzo - Silence Dogood Tue, 01 Jun 2010 05:51:27 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-post-passes-along-credit-card-industry-propaganda/#comment-754 [quote]If the credit card fees are limited then states may have to pay a somewhat higher cost to the credit card companies so that they can recoup the cost of issuing the cards, however this would almost certainly be far below the cost of writing checks.[/quote] If credit card fees are regulated hundreds of competitive credit card companies will lay off thousands of employees because they can't recover enough cost to stay in business. These employees will end up on food stamps paid for by taxpayers, designed by socialists to act as automatic stabilizers in a recession. All because businesses which accept credit cards from their customers want the government to subsidize them by forcing a reduction in the fees, as they're too lazy to shop around for lower fees. Stupid liberals. - izzatzo Tue, 01 Jun 2010 03:02:12 +0100