Comments on: Life imitating art

By: Marc

Marc — Sun, 13 Jul 2008 20:00:26 +0000

Oh yeah and Becky, if we did away with cash, John wouldn’t have to cash a check, the money would just automatically be deposited in to your account, and you wouldn’t even have to go to one bank.

It will eventually happen, just probably not in my lifetime.

By: Marc

Marc — Sun, 13 Jul 2008 18:30:39 +0000

Alan, while I do agree there is a direct cost to the price of goods, the indirect benefit received from the elimination of the untold billions of unpaid taxes, due to the underground economy, and the elimination of losses by businesses due to counterfeiting, far out weighs any such cost impact.

By: Becky

Becky — Sun, 13 Jul 2008 17:21:27 +0000

I always use cash at Independent Stores for books, music or yarn, or write a check rather than use my debit card. And when John does a side for someone that we don’t know very well, we cash the check at the bank where the check was issues from and then just use the cash. It’s a pain in the butt to go inside TWO banks and I don’t trust an ATM with large sums of cash. Some people have bad credit and don’t have credit cards and some people like my mother buys everything with cash because she doesn’t believe in credit cards. You should have seen the greenhorn salesman when she paid cash for a brand new car.

By: Alan Posner

Alan Posner — Sun, 13 Jul 2008 11:14:16 +0000

Marc,

While I always use credit cards (for the reason you mentioned), keep in mind that merchants pay the credit card companies 2% on each transaction. Who do you think really pays that 2%? It’s an extra 2% tax on the consumer, even if he uses cash.

Bottom line is that the Credit Card companies are sucking 2% of our consumer economy.

Alan

By: Claude (France)

Claude (France) — Sun, 13 Jul 2008 08:43:35 +0000

Hi Marc,
I agree fully with you, in France it is worse !
some pay taxes and other throw the money by the windows !
Keep riding,
Claude