Cash discounts have long been common at gas stations, but recently more businesses have begun offering discounts for those paying with cash. The number of cash purchases with a discount has soared 66 percent between 2015 and 2022. NBC News’ Christine Romans has the story.
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#cash #money #economy
Money laundering?
Make America Cash Again !!
Don’t be fooled. The only reason why they want you to pay in cash is so that they don’t have to put it on their taxes. Yeah, there’s a common trick by Mom and Pop restaurants or restaurants all over the place. They’ll say they do about 40% less and some reason the IRS believes it. They also believe that only two people can do 300 covers a night 😂😂
You really want to give this place and places like them a middle finger, pay for everything with a credit card. This way they can’t deny how much they truly made
“Discounts”? BS. They are INCREASING the bill if you use a card. Check their prices pre covid versus now. Bet their cash prices are jacked up too. In our area, the menu quotes the prices. If you pay with cash, THAT’s the price. If you pay with credit card, they INCREASE the price. “Discount”? The businesses and NBC News just called us stupid.
If this sticks, expect 1) all other types of business to do the same, and 2) restaurants will start charging the menu price, plus other costs of doing business, starting with the “tip”. Next that tip will increase to cover their entire staff including the kitchen. After that charges that are phrased to imply that they are YOUR government taxes, but are actually THEIR own taxes like property taxes and business licenses. After that, their entire list of cost of doing business like electricity, insurance, and the food itself. 3) These fees to grow higher.
Credit card acceptance and use blossomed in our rural area in the 80’s. Maybe sooner in the metro areas? Business did NOT take on that additional cost of doing business as a gift to their customers. Business were all in because it was a net win for the business. Before credit cards, businesses accepted cash, and maybe personal checks. By accepting credit cards, the credit card company picked up the risk of default on checks. And businesses got people to spend even MORE money. Either because the customer did not have cash in their pocket at the moment, or because people could spend money they had not yet earned. Businesses BENEFITTED. That’s why they paid the credit card fees.
Once all business do this, consider how often you will need to make a trip to get cash. How much cash will you need to carry? When Americans routinely carry that much cash, expect an increase in muggings. How much cash will you need to keep at home? When Americans routinely keep a cash stash at home, expect more home invasions.
This is a wonderful “discount”.
Good bring back cash.
It’s actually illegal to advertise a cash discounts because of bank lobbyists wanting preferential treatment.
Cash: For the customer, needing to wait in service lines that take longer, needing to go to the 🏧, having to manage random change. For the business, needing to count out change, needing to track, take to/from the bank, worry about theft. Yes, I get the avoidance of the credit card company fees, but that convenience overall of everything digital outweighs the work of physical money.
And the business fail to report all income to the IRS and state tax agencies!
The government wants no cash!
Just watch for those fake bills – some are scary good
100% agree cash benefits the businesses, but not the customers in the event of not being able to dispute overcharges and/or not getting what they paid for. Cash is perfectly fine for services and restaurants, but NEVER use cash for products.
Umm… there is something called a receipt.
Right. With a credit card, it’s a lot easier to get your money back if the merchant doesn’t deliver as promised.
3% ngl that would not motivate me to go
With all the robberies that occur in our cities, no thanks top carrying cash. The extra fee is something I’d pay, but also might skip out on making the purchase. That’s a chance the businesses might see their numbers drop because of.
So you just carry cards but if robbed you can end up losing more than just cash you may have in your pocket. Cards can go around the world.
While some businesses are not taking cash as well, how funny and ironic.
In Oregon they’re still trying to get rid of cash transactions
We need this more than ever these days. We’re entering a cashless society and that’s not good
You’re absolutely right. Make no mistake a “cashless society” is a slave “society.”
Good idea, as long as a business keeps scrupulous records so they don’t get hefty fines from the IRS. Plastic and other forms of payment cost a businesses far too much; and *specialised* card programs cost even more! Why should businesses promote a card *brand* when it costs so dearly? Cash is Queen!
You’re absolutely right
Get robbed in LA
A debit card IS cash. You surely can’t use it if the money isn’t there.
This isn’t a real discount. It’s just they’re charging you more to use your card when that’s supposed to be the businesses problem not yours.
Could you BELIEVE that you have to rent out a place, furnish it, hire chefs, prepare menus, and market your business. And then VISA takes 4% while doing NOTHING.
If Salestax is on our receipts, we should have a law mandating that credit card company fees are charged separately.
The easy fix is to stop accepting credit cards, but they won’t because many customers don’t usually carry much cash and, therefore, will spend less.
That may be a target for robbers tho
This is why the government USA will eliminate cash and make everything USA bitcoin it’s the tax avoidance
Credit card companies hate this video.
What about the places that don’t take cash?
Ask them for a barter discount.
Don’t have credit cards debit cards always pay in cash everything that’s why I’m debt free
Taxes are much more easily evaded with cash, so that’s a way for them to make way more money even though the customer gets a discount. They come out way ahead not having to pay tax on the money coming in. They probably have just enough card transactions (which they have to pay tax on and are easily traceable) that it doesn’t readily get noticed.
This is why the powers that be are pushing for a cashless system. It makes EVERYTHING traceable.
I agree while saying most people pay their taxes. This isn’t exactly a tax issue, anymore than it was in the past, before all this technology.
What this is mainly about is the terrible destructive misuse and abuse of technology that is where the banks, credit cards, Silicon Valley, Wall Street, have their greedy hand in every single transaction everywhere to no limits, always taking their cut, milking everyone constantly, making everyone their slaves.
No good can come from such a complete destruction of equality, criminal scheme dystopia. It definitely needs to be put a stop to.
Not for customers
Until recently most people did not realize that paying with a card or on a device causes Retail Inflation , because these businesses have to pay the owners of the Reader Machines for the use of those machines , and then they have to spread that cost out over the inventory they have on hand . It is smarter to pay in cash . Not to mention the increasing amount of scams involving plastic cards .
Exactly. People are paying much more than they realize for “convenience” of horrible “cashless society” dystopia. They’re paying a colossal hundreds and hundreds of billions in banks, credit cards, Silicon Valley/Wall Street having their grubby hands in every transaction across entire population that amounts to a kind of slavery. We’re paying a hefty Corrupt Dystopia Tax for the rotten “cashless society” that all other businesses have to pass the cost of the card machines fees etc. onto customers in higher prices than otherwise would be.
dave ramsey is smiling right now
Ya’ll gonna get robbed now
Love cash…..don’t have to pay uncle Sam taxes
Dude the credit card companies take 3 percent. might as well give it to the customers. the 10 percent is a little sketch though lol
1, cash never went away. 2, If you don’t get that discount, you’re paying for the credit card fees anyway. 3, there is no interest charged if you pay off the balance by the due date. 4, if something goes wrong and the merchant tells you to get lost, you have no recourse other than a long and expensive court fight.
Cash at a restaurant or for gas is fine. Anything else, put it on a credit card. The protection you get is worth far more than any discount you can get.
Everyone needs to pay their taxes, whether you are the business owner or the worker
You guys are doing some mental gymnastics to push point that some of these discounts are for anything other than tax avoidance. You don’t give a 10 percent discount to avoid a 2 percent fee.
They trying get the physical cash 💵 and make us pay in the currency they want us to use
When paying cash for everything, it really alerts you to your spending. Say you walk into Mc Donalds order your meal, swipe and be on your way you tend not to think of the cost. Now go in there order your meal, give them a $20 and get $5 back your will think “OUCH” and tend to spend less. This really works well when grocery shopping, make a list, stick to it and pay cash again helps control your spending.
That’s my goal. Hard for me to plan meals & money but I will try to train my ADHD brain so I don’t have my expenditures profiled digitally.
Another benefit to paying cash, the government doesn’t know what you’re spending your money on. Not like it’s any of there business anyway, but government has become way to intrusive.
It’s over 👨🍳
Gas stations have been doing this forever. At least the ones in California.
Then they don’t pay taxes
Best reason for preferring cash. Easy to not report to IRS
Credit card companies need to get rid of those fees.
Cash is king, I did that last night, good discount for cash.
Yes, that meas illigal payments to illigal immigrants
I never heard of a car dealership that offers a cash discount since they always price their cars on cash purchases (in this case, a check is considered cash). Instead, if a customer insists on paying with a credit card, they would tack on the additional cost to the purchase price.
Cash will always be king! I dont listen to the crypto or credit gurus.
They did it to hide sale
My dusty azz has got to get yt premium. Tired of seeing Joe Biden adds.
Okay I’m going
NYC Chinatown been doing this forever. Nothing new. Most bodegas and shops have done it too
is this supposed to make us feel better about these absurd prices for everything. it doesn’t. this economy is impossible for common folk.
Good. It saves your vendor and you money. Stop using plastic. Period.
I like using cash, but lately it’s been harder to use it. I went to jimmy John’s recently and when I tried to pay in cash the cashier said they no longer accept cash. And when I shop in the morning it’s only self checkout available and most of the registers are card only.
Cards are a scam
😊
I hate carrying cash on me tbh. I’m very responsible with my credit cards never carried over a balance, always pay them off in full each month.
Getting the world conditioned for the digital dollar. The less cash in circulation the easier it would be to bring it in. Anyway let’s get out there and turn it in. Voluntarily that is, with a side of fear to reinforce the social conditioning and to not resist it.
Cash is better they cant hack it and track your buying habits, as long as its legal somebody miles away don’t need to know
They’re going to charge 10% extra and give you 10% discount they’re not losing no money they just want business are they going to brainwash people into thinking they’re going to give a 10% discount but the only takes away that 10% discount that they added to it
Hey, can I get the cash price on my taxes please
When you use cash ,
No paper trail for Uncle Sam
I can’t drive. ATMs have been going drive thru only. I get the logic but I’ve switched to delivery and am highly skeptical of going places in person because they don’t always tell you until it’s too late.
Then they add 20% gratuity
Tax cheats
I got tons of cash
Many restaurants in our area won’t accept cash any longer due to theft so they only accept credit cards.
Some said we were turning into a cashless society and bitcoin will be the future. Just like they said in the 1980s’ we would have flying cars in 2024. Who would have thought?
I love cash, it is freedom.
BOYCOTT GOOGLE. BOYCOTT MERCHANTS OF DEATH. GOOGLE IS PARTNER IN GENOCIDE.
paid for my daughters wedding………..big savings
I pay cash when I go out to eat anyway.
Funny they wouldn’t take cash before now they want it
It’s like saving you .. what business have to pay credit card companies..
When they get cash they can skim some too
*There are 2 reasons cash will always be preferred.* Cash doesn’t cost a business anything (such as processor and POS systems.) And also, cash can more easily “disappear” and not be subject to taxation (which is also why tipped employees prefer cash, too.)
Cash and a written receipt equals zero tax on most personal things because the customer is not going to claim the expenses. It is called tax evasion. Because most people pay with creditcards the business already added the 2-3% fee into the cost of the service.
I couldn’t believe the number of cash only places in the LA metro area. It comes down to taxes I believe, it’s a great way to avoid taxable income.
Amazing, bring back freedom to use our physical currency.
Good idea.
Some Chinese owned businesses prefers cash only payments so that Uncle Sam won’t find out how much they really make.
So
I don’t know Her but I Her energy commands My supportive energy 🙏💗🙏
just like amazon ended up buying physical stores so has our currency devolved back to physical from digital 😂
I do custom tile, i offer my clients a 20% discount if paying with cash. Its been a huge boom in business for me.
Keep up the good work! And please for the love of God, organize with other good business owners to lobby the state legislature to put a stop to this vile “cashless society” rot that is an increasing dystopian nightmare. We need to make it impossible to eliminate cash. We need a legitimate economy / structure whereby the banks, credit cards, Silicon Valley/Wall Street doesn’t have their greedy hand in literally every single transaction of the entire population. We need to lobby our legislatures for cash freedom laws. For example we need to outlaw machines that don’t take cash. They’re already appearing at stores like Aldi. Their machines only take bank or credit cards. This kind of thing needs to be put a stop to.
IRS watching this fasho.
It’s illegal for a company to charge the customer the 3% cause you have a 💳 you can call visa and report them. Then visa drops them. #karma
Cash always 🏆
It’s so they don’t have to report it to the IRS.
I’m pro-cash and anti-digital currency.
Get rid of the tipping on everything and give a 10% discount for cash. It’s a better business model
I don’t care if they aren’t paying taxes the government has to much of our money.
Businesses are absolutely right to offer discounts for using cash. And please everyone patronize these businesses giving you a discount. We all need to work together to maintain a cash society and put a stop to this “cashless society” absolute dystopian nightmare. The banks and credit card corporations and Silicon Valley Wall Street absolutely should NOT be allowed to milk and control everyone and everything in every single transaction. We also need to strongly organize and make sure our legislatures are supporting cash. We cannot allow anyone anywhere to engage in a heinous dystopia scheme to try to eliminate cash. If corporations are putting in checkout machines, we need our legislatures to require by law these machines always also take cash. These important cash freedom laws and legitimate structure for EQUAL legal tender is horribly missing in states across this country.
Cash on the barrelhead isn’t going away any time soon.
ironically at the same time several businesses are also going cashless. saying dealing with cash, change, risk of theft a pain.
Cash is king.
One does not simply tip $3.50 without it being in denominations of a 2 dollar bill, 1 dollar coin and a half dollar Kennedy coin. Might as well carry cash at that point.
There’s a Mexican restaurant near me that does this! I can get a meal for less than $8 lol. Cash is King
Any Chinese restaurant will give you discount if you pay cash 😅
lead me to a store that accepts cash PLEASE! Every supermarket almost forces customers to use cards. Wish more businesses would offer a discount using cash. It’s real money. When it’s gone you know it.
I’ll pay with cash if the discount is bigger than my credit card reward.
AWESOME.. Cash is NOT traceable like credit card statements or cash app