Comments on: Government Agencies in Missouri Spent $2,047,457.28 on Credit Card Fees and $17,940.49 on Late Payment Penalty Charges During 2009 http://www.showmedaily.org/2010/02/government-agencies-in-missouri.html Advancing liberty with responsibility by promoting market solutions for Missouri public policy Fri, 10 Feb 2012 02:56:48 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Missouri state agencies fact check blogger | Political Fix | STLtoday http://www.showmedaily.org/2010/02/government-agencies-in-missouri.html/comment-page-1#comment-5247 Missouri state agencies fact check blogger | Political Fix | STLtoday Fri, 05 Feb 2010 22:10:10 +0000 http://www.showmedaily.org/?p=13234#comment-5247 [...] CITY – A Show-Me Institute analysis of state government credit card spending during 2009 doesn’t tell the full story, according to state [...] [...] CITY – A Show-Me Institute analysis of state government credit card spending during 2009 doesn’t tell the full story, according to state [...]

]]> By: ray http://www.showmedaily.org/2010/02/government-agencies-in-missouri.html/comment-page-1#comment-5226 ray Thu, 04 Feb 2010 19:42:08 +0000 http://www.showmedaily.org/?p=13234#comment-5226 Are these fees that the agency has paid in order to have the privilege of using the card? OR (more likely) are these fees that the agency pays whenever it accepts a credit card payment for goods (as in MDC's online store - or for that matter, its brick-mortar stores)? You have to know this first, before you can even speculate about why they went up, or down. Are these fees that the agency has paid in order to have the privilege of using the card? OR (more likely) are these fees that the agency pays whenever it accepts a credit card payment for goods (as in MDC’s online store – or for that matter, its brick-mortar stores)? You have to know this first, before you can even speculate about why they went up, or down.

]]> By: Eric D. Dixon http://www.showmedaily.org/2010/02/government-agencies-in-missouri.html/comment-page-1#comment-5225 Eric D. Dixon Thu, 04 Feb 2010 18:47:41 +0000 http://www.showmedaily.org/?p=13234#comment-5225 I don't buy that there's any problem with credit card "swipe" fees. Businesses can choose not to accept credit cards at all, if they want. The fact that they choose to accept credit cards indicates that the benefit from increased sales that they receive is greater than the cost in lost income of the aggregated "swipe" fees. Credit card companies are providing a convenient service, making it possible for commercial transactions to occur with less advance planning and coordination (i.e., obtaining cash before buying). The prevalence of credit card use leads to marginally higher market prices, but I'm almost universally happy to pay that extra cost in exchange for the convenience that credit cards provide. I don’t buy that there’s any problem with credit card “swipe” fees. Businesses can choose not to accept credit cards at all, if they want. The fact that they choose to accept credit cards indicates that the benefit from increased sales that they receive is greater than the cost in lost income of the aggregated “swipe” fees. Credit card companies are providing a convenient service, making it possible for commercial transactions to occur with less advance planning and coordination (i.e., obtaining cash before buying). The prevalence of credit card use leads to marginally higher market prices, but I’m almost universally happy to pay that extra cost in exchange for the convenience that credit cards provide.

]]> By: Andy http://www.showmedaily.org/2010/02/government-agencies-in-missouri.html/comment-page-1#comment-5222 Andy Thu, 04 Feb 2010 15:42:54 +0000 http://www.showmedaily.org/?p=13234#comment-5222 This is not only a problem for state agencies, but also businesses of all sizes. Visa, MasterCard and thier big issuing banks collect between 1 and 4% off of every transaction in "swipe" fees, which totaled $48 billion in 2008. I would encourage people with an interest in this to write their Members of Congress here: http://www.capwiz.com/thecreditcardcon/issues/alert/?alertid=14327556&type=CO This is not only a problem for state agencies, but also businesses of all sizes. Visa, MasterCard and thier big issuing banks collect between 1 and 4% off of every transaction in “swipe” fees, which totaled $48 billion in 2008. I would encourage people with an interest in this to write their Members of Congress here: http://www.capwiz.com/thecreditcardcon/issues/alert/?alertid=14327556&type=CO

]]> By: Audrey http://www.showmedaily.org/2010/02/government-agencies-in-missouri.html/comment-page-1#comment-5221 Audrey Thu, 04 Feb 2010 15:30:22 +0000 http://www.showmedaily.org/?p=13234#comment-5221 My initial guess is that this has something to do with credit cards issued to employees. http://mdc.mo.gov/about/employment/benefits.htm The department has a credit union. Could that be part of the problem? http://www.cecuonline.org/ My initial guess is that this has something to do with credit cards issued to employees. http://mdc.mo.gov/about/employment/benefits.htm

The department has a credit union. Could that be part of the problem?
http://www.cecuonline.org/

]]> By: Abhi Sivasailam http://www.showmedaily.org/2010/02/government-agencies-in-missouri.html/comment-page-1#comment-5212 Abhi Sivasailam Thu, 04 Feb 2010 04:56:06 +0000 http://www.showmedaily.org/?p=13234#comment-5212 Christie, this is a great find! Christie, this is a great find!

]]> By: David http://www.showmedaily.org/2010/02/government-agencies-in-missouri.html/comment-page-1#comment-5211 David Thu, 04 Feb 2010 04:42:56 +0000 http://www.showmedaily.org/?p=13234#comment-5211 Does Russ Carnahan's brother also own a substantial amount of Visa stock? I'm just wondering. Does Russ Carnahan’s brother also own a substantial amount of Visa stock? I’m just wondering.

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