The laws don't have anything to do with credit unions and banks. They apply to the card processors, like First Data. They had other higher rates in place the same day the Dodd-Frank bill went into effect, nullifying any savings. So no, it doesn't matter what card you use. The name on the card has very little to do with where all of the money flows. Most of the money goes to a handful of very large corporations who set the rules and the fees, not the name on the card.
They've been fighting credit unions for decades. Credit unions, due to banks buying laws, are already at a tremendous disadvantage in many respects. One big way is that credit unions must hold many times more cash per dollar loaned out than banks do. It's far beyond keeping credit unions safe. It's hobbled them so they can only loan out so much money, hurting small businesses who need those loans (because banks don't loan to small businesses).
Credit unions are fantastic. I run my multi-million dollar business solely through credit unions. People think they're silly things for pensioners. In reality, I have much more credit, and I earn a lot more interest than my competitors do who are still going to banks. I know most individuals save maybe a hundred bucks a year going to a credit union, but I save thousands a year. I love my credit union(s)!!
"Figure up that the tax is around 40%, advertizing, insurance is about 400-800 a month per employee, plus bonuses, incentives, paying the accountants...I know I was shocked too. Go into business yourself and have a few employees, you will find out soon enough that is is borderline insane."
I am. I pay my employees' health insurance. Nobody has health insurance that costs $400/month. A team of accountants is not needed for payroll (A $300 copy of Quickbooks works just fine).
Politics has nothing to do with it. Where a company chooses to spend their money is something that I consider where to spend my money. I would never use Carbonite because they fund these insane radio shows. If everybody cared where they spent their money, crazies like Beck and Limbaugh wouldn't have any advertisers at all.
So what? Those companies will invariably fail. Let the companies do that, and let the good employees go elsewhere. In that case, a union really isn't needed. The market will weed out those companies.
"The margins there have to be pretty tight. I am a pretty well paid IT worker at around $37 an hour (80K a year). When I contract it is for $125 an hour, $100 on the low end. The overhead on taxes and administrative costs is so friggin high that we break even on the $100/hr jobs."
It costs you $63/hour in administrative costs and taxes? Wow. What are these "administrative costs" that cost so much? You make quarterly tax payments, you pay the monthly health insurance bill.... what else is there that costs upwards of $150K/year?
Health insurance is a few hundred bucks a month. I used to work as a contractor for the government, and I was paid roughly double what the "full time" employees were paid. I paid for my own health insurance, and still took home about 80% more than what the "full time" employees made.
If a lower end worker wants to "negotiate", but there are 12 people behind him in line for the job, then why should that employee have any leverage? That's capitalism. Supply and demand works for labor, too. If somebody thinks they're worth $15/hour, but there's a line of people willing to work for $12/hour, shouldn't the employer just hire the $12/hour employee?
People don't care.
They just don't. As long as they can consume something faster and cheaper, they will. Self respect doesn't even into the equation.
Welcome to Idiocracy.
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In business, they're used every day.
Oh, well let's just bend over for the Royal Triumvirate of Credit Bureaus, while we're at it, huh?
My credit union charges me literally $0.01 for an overdraft.
E-Trade is one of the biggest banks in the world.
Stop shopping online. Shop local.
My credit union is open 7:00 AM - 7:00 PM on Saturday and Sunday.
The laws don't have anything to do with credit unions and banks. They apply to the card processors, like First Data. They had other higher rates in place the same day the Dodd-Frank bill went into effect, nullifying any savings. So no, it doesn't matter what card you use. The name on the card has very little to do with where all of the money flows. Most of the money goes to a handful of very large corporations who set the rules and the fees, not the name on the card.
They've been fighting credit unions for decades. Credit unions, due to banks buying laws, are already at a tremendous disadvantage in many respects. One big way is that credit unions must hold many times more cash per dollar loaned out than banks do. It's far beyond keeping credit unions safe. It's hobbled them so they can only loan out so much money, hurting small businesses who need those loans (because banks don't loan to small businesses).
Credit unions are fantastic. I run my multi-million dollar business solely through credit unions. People think they're silly things for pensioners. In reality, I have much more credit, and I earn a lot more interest than my competitors do who are still going to banks. I know most individuals save maybe a hundred bucks a year going to a credit union, but I save thousands a year. I love my credit union(s)!!
I get 2.5% on my checking and no fees and a larger free ATM network at my credit union.
"Figure up that the tax is around 40%, advertizing, insurance is about 400-800 a month per employee, plus bonuses, incentives, paying the accountants...I know I was shocked too. Go into business yourself and have a few employees, you will find out soon enough that is is borderline insane."
I am. I pay my employees' health insurance. Nobody has health insurance that costs $400/month. A team of accountants is not needed for payroll (A $300 copy of Quickbooks works just fine).
Politics has nothing to do with it. Where a company chooses to spend their money is something that I consider where to spend my money. I would never use Carbonite because they fund these insane radio shows. If everybody cared where they spent their money, crazies like Beck and Limbaugh wouldn't have any advertisers at all.
So what? Those companies will invariably fail. Let the companies do that, and let the good employees go elsewhere. In that case, a union really isn't needed. The market will weed out those companies.
If you're paying close to half of your salary in health insurance, you're doing something terribly, terribly wrong.
"The margins there have to be pretty tight. I am a pretty well paid IT worker at around $37 an hour (80K a year). When I contract it is for $125 an hour, $100 on the low end. The overhead on taxes and administrative costs is so friggin high that we break even on the $100/hr jobs." It costs you $63/hour in administrative costs and taxes? Wow. What are these "administrative costs" that cost so much? You make quarterly tax payments, you pay the monthly health insurance bill.... what else is there that costs upwards of $150K/year?
Health insurance is a few hundred bucks a month. I used to work as a contractor for the government, and I was paid roughly double what the "full time" employees were paid. I paid for my own health insurance, and still took home about 80% more than what the "full time" employees made.
If a lower end worker wants to "negotiate", but there are 12 people behind him in line for the job, then why should that employee have any leverage? That's capitalism. Supply and demand works for labor, too. If somebody thinks they're worth $15/hour, but there's a line of people willing to work for $12/hour, shouldn't the employer just hire the $12/hour employee?
That's not a significant amount of money. Look at their companies, their customers, and where they spend money lobbying.
Anybody can say whatever they want. If you want to see what the Koch's REALLY think, look at where they've spent their money.
Yet another example of the wealthy politicians trying to hurt the poorest among us.
People don't care. They just don't. As long as they can consume something faster and cheaper, they will. Self respect doesn't even into the equation. Welcome to Idiocracy.
But... but.... isn't money more important than our environment?
Have you been stabbed in the face with a Buick, yet?
People in generally are pretty stupid. As the replies here indicate, many people clearly just don't care.
It does, but it's nowhere near 3-3.5%