On Mar 5, 2:17*pm, "Walter R." wrote:
Besides, it costs them nothing because they are not going to remit sales tax
to the state on their cash sales anyway. (Neither are they going to pay
income tax on cash sales.) That's the beauty of cash transactions.

--
Walterwww.rationality.net
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"Percival P. Cassidy" wrote in ...



On 03/05/08 02:44 pm George wrote:

N O wrote:
Sam's club doesn't take Visa? I wanted to join and buy some things but
they don't take Visa the lady said. I get 1% back and they end up paying
me 15 or more dollars a month, so I'm not changing to a sam's master
card.

Went cross the street to walmart and they take everything. I mentioned
it to the cashier and she said, no wonder people are buying 500 dollar
sam's gift cards..

I am no fan of Sams but I applaud their refusal to accept "rewards"
cards. I have no interest in paying more for merchandise to cover the
cost of someone's "rewards". I also think cash discounts are a great idea
but the banks prevent that but banning it in their merchant agreements.

I think that was the intention of the card-issuers' agreements, but it
doesn't seem to work in practice. AIUI, the card issuers prohibited
merchants from charging more for using plastic, but they could *not*
prevent them from giving discounts for cash. I've seen gas stations
advertising a "cash only" price, and I've been to computer and ham radio
"flea markets" where vendors will advertise separate "cash" and "credit"
prices or will say, "If you pay cash, we'll pay the sales tax, but if you
want to use plastic, you'll have to pay the tax."

Perce- Hide quoted text -

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Don't know where you got that information but in the future, don't
listen to them. You pay sales tax and income taxes rather its a cash
sale or credit card sale. Sams is not a flea-market and the states
monitor their sales based on purchases.

The cash only price discounts are given because every retailer who
accepts a credit-card must pay a fee to the credit card company. (Or
should I say, they accept a reduced payment since the credit card
company extrats the fee from their payment.)
A retailer who offers a cash discount does so for two reasons, the
first is rather obvious to avoid the fee and their cash discount will
almost always be less than the fee by the way. The second and less
obvious reason is to get their money sooner. That cash sale is
immediate cash flow, the credit card may take a few days to a few
weeks before payment is received.