There is so much debate today over the disparity of wealth. Roughly 1% of the population holds 20% of nation’s wealth and 20% of the top wealthy own 80% of nation’s wealth, leaving only 20 percent of the wealth for the rest of the 80% of the population. Confused? That’s their plan.
But an interesting report emerged saying that using credit cards actually supports the wealthy. No, banks aren’t just giving money to the rich…That would be wealthy welfare. No this is happening at retailers where you shop every day.
Retailers must pay credit card fees to the bank. Instead of taking the loss, retailers jack up prices to incur credit card fees. So as per the article, if you pay with cash you are helping to pay credit card fees. So even if you want to avoid credit cards you are paying for other people to use them.
How does this benefit the rich? Well the statistics show the wealthy spend more on credit cards and more often. They use their cards to receive rewards and that’s right – cash back (what you work so hard to earn)
So next time you’re shopping toss in a few coins for the rich and not needy to support wealthy welfare. They of course are nothing without us measly peasants.