Comments on: No Credit to Congress: House Judiciary Committee Votes on Price Controls http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/ Sat, 11 Feb 2012 19:18:39 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Jeanna, Fargo http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-12654 Jeanna, Fargo Sat, 10 Jan 2009 19:44:50 +0000 http://www.foundry.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-12654 As a small merchant I am paying an average of 5.5% of a customers ticket in credit card fees. Before I began accepting credit and debit cards I was lucky to post a 10% net profit. Take 5.5% away from that and it becomes very difficult to survive without passing the cost on to the customer. When talking with customers, the majority are unaware that the merchants are socked with these fees. It truely is a hidden fee. How else would they know. Help! As a small merchant I am paying an average of 5.5% of a customers ticket in credit card fees. Before I began accepting credit and debit cards I was lucky to post a 10% net profit. Take 5.5% away from that and it becomes very difficult to survive without passing the cost on to the customer. When talking with customers, the majority are unaware that the merchants are socked with these fees. It truely is a hidden fee. How else would they know. Help!

]]> By: The Merchant Account Blog » Interchange regulation - H.R. 5546 http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2860 The Merchant Account Blog » Interchange regulation - H.R. 5546 Thu, 24 Jul 2008 15:37:58 +0000 http://www.foundry.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2860 [...] Related relevant posts: An Ugly Regulatory Bill STOP THE MADNESS! Congressional Price Fixing Electronic Payments Coalition Statement on Price Control Legislation (H.R. 5546) Interchange bill may be dead for ‘08 No Credit to Congress [...] [...] Related relevant posts: An Ugly Regulatory Bill STOP THE MADNESS! Congressional Price Fixing Electronic Payments Coalition Statement on Price Control Legislation (H.R. 5546) Interchange bill may be dead for ‘08 No Credit to Congress [...]

]]> By: peter133,australia http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2654 peter133,australia Fri, 18 Jul 2008 09:45:15 +0000 http://www.foundry.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2654 politicans are not doing anythig they are sitting and watching there power has been increased.Harry is saying right that we will go swinging.This is truth.Ideas make a men perfect but do that ideas prove. _________________________________ peter<a href="http://www.addictionrecovery.net/nebraska" rel="nofollow">Addiction Recovery Nebraska </a> politicans are not doing anythig they are sitting and watching there power has been increased.Harry is saying right that we will go swinging.This is truth.Ideas make a men perfect but do that ideas prove.

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peterAddiction Recovery Nebraska

]]> By: Harry in Chicago http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2597 Harry in Chicago Wed, 16 Jul 2008 11:15:38 +0000 http://www.foundry.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2597 Ed and Dave have said it rather well. I feel as if I am standing and watching our country fade away and its a very helpless feeling. However, I can assure those who feel the same way, we will go down swinging. Ed and Dave have said it rather well. I feel as if I am standing and watching our country fade away and its a very helpless feeling. However, I can assure those who feel the same way, we will go down swinging.

]]> By: Dave, New Orleans http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2596 Dave, New Orleans Wed, 16 Jul 2008 10:31:19 +0000 http://www.foundry.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2596 The selfless Statesmen are dead.Politicians have devolved into simply having to do something, anything, just to justify their existance,most of the time its wrong...For the sake of the country..use your vote wisely and vote less government.. The selfless Statesmen are dead.Politicians have devolved into simply having to do something, anything, just to justify their existance,most of the time its wrong…For the sake of the country..use your vote wisely and vote less government..

]]> By: Ed, Leesburg, VA http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2590 Ed, Leesburg, VA Wed, 16 Jul 2008 07:32:52 +0000 http://www.foundry.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2590 Who in Congress dreams this stuff up? Do they have an idea jar in the hallway over there that folks just throw dumb ideas into every now and then? Ideas for work items that just waste time? Those people need orange hair and red noses. Why not work on helping us out of current set of messes instead of creating new ones? Cheee. Who is watching these folks? Who in Congress dreams this stuff up? Do they have an idea jar in the hallway over there that folks just throw dumb ideas into every now and then? Ideas for work items that just waste time? Those people need orange hair and red noses. Why not work on helping us out of current set of messes instead of creating new ones? Cheee. Who is watching these folks?

]]> By: Darvin Dowdy, Houst http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2582 Darvin Dowdy, Houst Tue, 15 Jul 2008 22:02:13 +0000 http://www.foundry.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2582 What the merchants are not factoring in is the speed of the transaction. That, alone, pays for the extra 2% or so. Especially for a high volume retailer like Walmart. I actually got in line behind someone the other day who pulled out their checkbook and commenced the process. It took at least 3-5 minutes. And that is with the check clearing ok. If there'd been a problem it could've easily go on longer. Were I the cc companies I'd certainly make merchants aware of this +. I know the buying public will pay an extra 2 cents on the dollar not to have to wait for extended periods of time. I like to shop at business' that promote and accept all forms of payment and legal tender. I hope we never become a cashless society. Different strokes for different folks. Merchants should stop their whining and cater the the customers preference. DD What the merchants are not factoring in is the speed of the transaction. That, alone, pays for the extra 2% or so. Especially for a high volume retailer like Walmart.

I actually got in line behind someone the other day who pulled out their checkbook and commenced the process. It took at least 3-5 minutes. And that is with the check clearing ok. If there'd been a problem it could've easily go on longer.

Were I the cc companies I'd certainly make merchants aware of this +. I know the buying public will pay an extra 2 cents on the dollar not to have to wait for extended periods of time.

I like to shop at business' that promote and accept all forms of payment and legal tender. I hope we never become a cashless society. Different strokes for different folks. Merchants should stop their whining and cater the the customers preference. DD

]]> By: Credit Crunch » No Credit to Congress: House Judiciary Committee Votes on Price Controls http://blog.heritage.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2573 Credit Crunch » No Credit to Congress: House Judiciary Committee Votes on Price Controls Tue, 15 Jul 2008 20:38:23 +0000 http://www.foundry.org/2008/07/15/no-credit-to-congress-house-judiciary-committee-votes-on-price-controls/#comment-2573 [...] Payoff My Credit Cards Now wrote an interesting post today onHere’s a quick excerpt No Credit to Congress: House Judiciary Committee Votes on Price Controls Posted July 15th, 2008 at 4.03pm in Entrepreneurship. In 1979, Robert Schuettinger and Eamonn Butler wrote a book called “Forty Centuries of Wage and Price Controls,” detailing 4,000 years of disastrous attempts by government to control market prices. Tomorrow, the House Judiciary Committee will vote on adding a 41st century to that litany of failure. The target: credit card “interchange fees.” Interchange fees are [...] [...] Payoff My Credit Cards Now wrote an interesting post today onHere’s a quick excerpt No Credit to Congress: House Judiciary Committee Votes on Price Controls Posted July 15th, 2008 at 4.03pm in Entrepreneurship. In 1979, Robert Schuettinger and Eamonn Butler wrote a book called “Forty Centuries of Wage and Price Controls,” detailing 4,000 years of disastrous attempts by government to control market prices. Tomorrow, the House Judiciary Committee will vote on adding a 41st century to that litany of failure. The target: credit card “interchange fees.” Interchange fees are [...]

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