High gas prices - a windfall

Thread view:

Enable EMail Alerts

Start New Thread

Thread rating:

Bob Willard - 12 Sep 2005 11:35 GMT

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.

Signature

Cheers, Bob

Reply to this Message

Ritz - 12 Sep 2005 13:40 GMT

> 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

Cheers,

Reply to this Message

fordman3@hotmail.com - 12 Sep 2005 23:10 GMT

>Guess who makes out when the price of gas shoots up?

warman and i do

h
u
r
c
a
s
rt

Reply to this Message