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> Looking back, I have to imagine that this 3%+ tax on all American transactions must put a weight on the system. 90% of the credit card take gets paid back ou
by xadhominemx 5y ago
> Looking back, I have to imagine that this 3%+ tax on all American transactions must put a weight on the system.
90% of the credit card take gets paid back out in the form of rewards, so it’s not really a tax
- Invictus0 5y agoIt's a tax on the people paying with debit, who finance the credit card fees by paying higher prices with no rewards paid back. Credit cards are regressive.
- xadhominemx 5y agoDebit interchange is regulated, and much lower than credit.