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.
High gas prices - a windfall
Sep 12, 2005
2 Replies
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
Cheers,
warman and i do
h u r c a s rt
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