Quote:
Originally Posted by ActYourWage
Well, to get technical about it, some people that are high in CC debt may also not have jobs, thus living off unemployment checks and other government sponsored items, therefore our taxes are paying to help sustain these items. So, there really is no such thing as a free lunch.....we are paying for it somewhere. I am not saying it is a bad thing that we are paying these added taxes though.
|
There's also a school of thought that the prevalence of "reward" programs forces retailers to build the additional cost into their products. I actually read an interesting article (maybe I found it on this forum?) that said credit-card users are actually getting subsidized by those in poverty as a result.
Their logic was that all stores add 1%-3% to the price of all items to cover their charges from the CC companies. Those of us with rewards cards reap the benefits while those with bad credit who don't qualify for rewards programs pay cash (at the inflated price), thereby "subsidizing" our rewards programs.
I like the thought that those in debt are "treating" me (and DisneySteve) to lunch ... I'm going to stick with that one.