> We estimate an aggregate annual redistribution of $15 billion from less to more educated, poorer to richer, and high to low minority areas, widening existing disparities.
THis isn't exactly true. It probably costs nearly the same 3% to the retailer for cash handling fees (armored cars), cash security, holdup risk, and employee theft.
I accept the article's main point. I just hope we, the Taxpayers, won't have to bail out credit card debt along with student loan debt, etc.
https://archive.ph/Ms4vy
See also: https://www.federalreserve.gov/econres/feds/files/2023007pap...
> We estimate an aggregate annual redistribution of $15 billion from less to more educated, poorer to richer, and high to low minority areas, widening existing disparities.
Also from TFA:
> Accepting cash costs the retailer nothing.
THis isn't exactly true. It probably costs nearly the same 3% to the retailer for cash handling fees (armored cars), cash security, holdup risk, and employee theft.
I accept the article's main point. I just hope we, the Taxpayers, won't have to bail out credit card debt along with student loan debt, etc.
Um. No. Most small business owners transport cash to their bank on a daily or weekly basis. It takes 6-7 minutes at a drive-up teller window.