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Senators Continue Push To Replace Dollar Bill With $1 Coin
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<p>[QUOTE="19Lyds, post: 1723628, member: 15929"]While this may be true in large metropolitan areas, it may not be the case in the Real America which is made up of millions of lower income families which may or may not be able to afford certain electronic conveniences.</p><p><br /></p><p>There are millions of folks that do not have nor do they want "debit" cards much less "credit" cards. The convenience offered at the checkout stand is backed by a 1.5 to 3.0% "charge" to the merchants which in turn pass those costs off to the consumer. </p><p>I recently visited a MAJOR food venue in Austin Texas which was a "cash only" venue. I'm sure they are not the only ones.</p><p><br /></p><p>Now if a 3% reduction in costs to the consumer is something that a majority of Americans do not want, then push for a cashless economy but, I just don't think that this will happen.</p><p><br /></p><p>Of course this doesn't even take into consideration the risks associated with electronic banking and how easily one's bank account can be drained by unauthorized individuals.</p><p><br /></p><p>If it is going to "save" money, then implement it. If it is going to "cost" money, then do not implement it.[/QUOTE]</p><p><br /></p>
[QUOTE="19Lyds, post: 1723628, member: 15929"]While this may be true in large metropolitan areas, it may not be the case in the Real America which is made up of millions of lower income families which may or may not be able to afford certain electronic conveniences. There are millions of folks that do not have nor do they want "debit" cards much less "credit" cards. The convenience offered at the checkout stand is backed by a 1.5 to 3.0% "charge" to the merchants which in turn pass those costs off to the consumer. I recently visited a MAJOR food venue in Austin Texas which was a "cash only" venue. I'm sure they are not the only ones. Now if a 3% reduction in costs to the consumer is something that a majority of Americans do not want, then push for a cashless economy but, I just don't think that this will happen. Of course this doesn't even take into consideration the risks associated with electronic banking and how easily one's bank account can be drained by unauthorized individuals. If it is going to "save" money, then implement it. If it is going to "cost" money, then do not implement it.[/QUOTE]
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