The Importance of Cash Money

Discussion in 'Business & Economics' started by river, Feb 13, 2018.

  1. DaveC426913 Valued Senior Member

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    It also means that the government - for which we can all thank for a operating society - gets a fair cut.
    Cash - without tax - is essentially cheating the government. (Granted, a lot of people don't see it that way.)

    I am astonished at how many people tell me I won't have to pay taxes if I pay in cash. I politely tell them I'm happy to pay the tax - and let the government know about the transaction.
     
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  3. river

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    Cash is about the absence of information . That is more to the point . Not just taxes
     
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  5. Gawdzilla Sama Valued Senior Member

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    Money is just the way we keep score.
     
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  7. sculptor Valued Senior Member

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    When I buy, tax is added to the purchase price.
    It ain't about the taxes, it's about privacy.

    About taxes:
    When I see frugality in government I am happy to pay the taxes.
    Unfortunately, that seems a rare occurrence.
    So-----------I pay anyway ...............
    Many years ago:
    While visiting a friend from a poor rural farming community I was impressed by their 50 year old snowplow truck.
     
  8. iceaura Valued Senior Member

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    One of the major Parties in the US features a subfaction of politicians in leadership roles who have been trying - with occasional partial success - to restrict and regulate the ability of credit card companies to gather information and impose policy (such as no cash discounts) on retailers.

    The other major Party features no such faction, and the opposite preference: no restrictions on credit card companies or the deals they can make, no restrictions on what information they may collect and sell.

    This Partisan difference hit the news cycle recently with the Trump administration's process of gutting the Consumer Financial Protection bureau. https://www.investopedia.com/terms/c/consumer-financial-protection-act.asp
     
  9. sculptor Valued Senior Member

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    What do you buy for cash vs credit card?
     
  10. Write4U Valued Senior Member

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    Ideally, if you cannot pay cash you cannot charge on your credit card....

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    Just like you could not charge on your debit card.

    There is a saying; "becoming a victim of unrestricted credit" .....

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  11. sculptor Valued Senior Member

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    Years ago, I read an article about credit card companies.
    People like me were referred to as "deadbeats". Because:
    We have cards without annual fees, and always pay the bill on time, never incurring a finance charge. So, we have the convenience of the card, the convenience of their record keeping, and get to use their money interest free for the average of 2 weeks.(altogether, a rather handy tool if used judiciously)

    I cannot imagine living under the burden of high interest credit card debt.

    I recently had my diesel truck repaired and asked if the shop owner offered a cash discount.
    He did---though not much---still, a $345 bill was paid for with $320 in cash. (a savings of about 28% of a tank of fuel---or 2 gallons of chainsaw bar and chain oil, or a bottle of Ouzo...etc)

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    A friend of my beloved spouse will most likely die still owing money for school loans for her doctorate---she is a diabetic who has had 3 cancer episodes..(one treatment left her bald---which embarrassed her) .....we celebrate after each recovery...
     
  12. ForrestDean Registered Senior Member

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    Oh whatever. Nothing would make me happier than to see the entire global monetary system come to a total collapse and disappear completely.
     
  13. Write4U Valued Senior Member

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    That is called being a "victim of unrestricted credit".
     
  14. RainbowSingularity Valued Senior Member

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    un-restricted credit companys & staff are like drug pushers selling outside schools while the school is in lunch break with all the kids running about.

    morally i consider them equal
     
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  15. Write4U Valued Senior Member

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    Is it a wonder that individuals are trying to evade taxes on a few dollars, when they look at multi-million dollar companies, like GM who do not only have to pay no taxes at all, but in fact receive corporate welfare for all sorts of exotic write-offs, while the CEO receives a yearly bonus (for a job well done) by the millions, while his 60,000 p/yr secretary pays more on individual income taxes than that multi-millionaire CEO

    The game is rigged. Everyone cheats because it is rigged.
     
    Last edited: Jan 16, 2019 at 9:19 PM

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