Re: High gas prices - a windfall
Bob Willard wrote:
> Guess who makes out when the price of gas shoots up?
> The credit card companies charge a flat percentage of the price of
> the gas sold (usually 2-3%). So, when gas prices change from
> $2.50/gal to $3.50/gal, the Amex/Visa/MC/etc. gang love it. Arrrgh.
Yep, inflation helps them in every market. When NY and the feds charge
a NY consumer almost 60 cents a gallon in tax, they're getting their 3%
of that too. The credit card companies love sales tax hikes as much as
they like inflation...but there's no outcry here since those companies
are making HUGE donations to political parties/politicians/PACS. Hmmmm