The Solution to Debit and Credit Card Fees: Pay Cash
Be sure to read the article on CNN. Otherwise, this blog isn’t going to make any sense.
Big banks want to dive into our pockets again, at least according to the evil Republicans… Wait! WHAT???!?!
Reading about how Democrats favor banks and Republicans favor retailers was another slice of comedy this morning but also begs the question as to which party W was in when he bailed out the banks? I’ve always argued that he was the biggest tax and (no)spend liberal in the history of American politics. But I digress…
Now, there is empirical evidence that reducing debit fees would benefit consumers and actually create jobs in America. One might expect that it comes from those socialists in Canada or that country we don’t like in Europe (pick one, but usually France is at the top of the list). Nope! It comes from Australia… What are the democrats going to do now? Get ready for the koala smear campaigns!!!
In a somewhat related story, the government continues to print money. Guess how many fees are associated with using cash at a store: 0! Quite frankly, I enjoy not having to pay fees or for a merchant to have to pay fees for the “privilege” to spend my hard-earned money. I’ll just use cash from now on. After all, the government is printing it like it’s going out of style. Might as well use it!