tag:blogger.com,1999:blog-3222689798881623163.post847742590767077156..comments2022-11-18T05:32:03.332-08:00Comments on Americans Demanding Change NOW: The Cards That Really Pay You Backaka John Quincy Adams (Founder of this blog)http://www.blogger.com/profile/15998826551351781321noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3222689798881623163.post-10016985743602108912011-04-11T21:09:45.812-07:002011-04-11T21:09:45.812-07:00FAQ's:
I've had a few questions about thi...FAQ's:<br /><br />I've had a few questions about this proposal, so let me answer them to help eliminate any confusion...<br /><br />Q) What if the credit card companies and banks raise their fees/percentage rates?<br /><br />A) If they do, they will still be required to pay 1% of their profits. As their profits go up, the amount they pay into the system goes up.<br /><br />Furthermore, if people get pissed off enough they may decide to use their credit cards less or take their money elsewhere. These industries will be forced to change their policies and make them more consumer-friendly if they want to remain in business.<br /><br />Q) How can you get away with charging banks and credit card companies an "operating fee"?<br /><br />A) The same way they get away with charging fees: just do it. Credit card companies charge operation and usage fees to consumers and merchants alike, although they charge way more than 1%. If you buy a debit/gift card, regardless of the amount, you get charged an "activation" fee that can range from $3.00 to $6.00 depending on the brand and the denomination. That's as high as 15% on a $20.00 card. Credit card companies also charge usage fees to merchants who accept their brand. And banks charge fees for everything they can. So charging an operating fee to these businesses is just as legal as their charging usage or so-called "activation" fees to us.<br /><br />Q) How can you guarantee that the funds will be protected and used for their purpose, instead of pilfered as has already been done with Social Security?<br /><br />A) By building language and protections into the bill that prevent the Operating Fee provision from ever being reversed, amended, or altered, and which will keep the funds safe by denying access to them by Congress or any other agency or organization or special interest. There will be no date of termination allowed on this plan, and privatization or conveyance of any outside ownership by the parties paying into the system will be absolutely prohibited. The Government will be signing a contract with the American People to protect these monies and interests for the Public Good. And the 1% fee will be a straightforward, cut and dried, loophole-free fee without exemptions.<br /><br />This can also pave the way for making other corporations fund public interests such as health care, or subsidize energy costs and underwrite the revamping of the infrastructure, all of which could allow a greater percentage of our tax money to go farther, and perhaps even allow a reduction of taxes upon the American people over time.<br /><br />Any other questions?aka John Quincy Adams (Founder of this blog)https://www.blogger.com/profile/15998826551351781321noreply@blogger.com