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 Replies: 27 / Views: 3,081 |
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Rest in Peace
10197 Posts |
Alpha, thanks for the image, just think what a handful of Sac's would do to a G-string.......  Edited by Crazyb0
03/19/2017 6:05 pm
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CCF Advertiser
United States
1533 Posts |
Drug dealers and coin dealers, how could we live without cash?
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Valued Member
 United States
411 Posts |
you will have to get set up with paypal or something like that to stay up with the times.
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Bedrock of the Community
 United States
12477 Posts |
Alpha!   I believe all cash will cease to exist at some future point but at the government's pace, it may not be in my lifetime. Before that, I believe we may see some coins and possibly the $1 bill done away with and a switch to polymer notes. The timeline is anyone's guess. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Moderator
 United States
188952 Posts |
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As a parent, I cannot see cash going away. Most of the cash I use, other than at coins shows, is for babysitting, lessons, tutoring, classes, etc. None of this can be paid with credit cards and it is hundreds of dollars a month. My baby sitter takes PayPal and ApplePay. I am serious. Quote:
As long as there's drug dealers and drug users there will always be cash. And I don't see either of those going away anytime soon. I have heard they take electronic payments, billed as many of the things Andrew listed above. Wink-wink. Quote:
How will we tip strippers without cash? (I'm convinced that's a big reason we still have one dollar bills. No one, especially congressmen, wants to tip strippers with fives.) The establishment near my work has their own scrip you can purchase on-site. That being said, all the clubs had long before moved on to two dollar bills (and now two dollar scrip). When you use two dollar bills here, you get a look.  |
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Bedrock of the Community
United States
12841 Posts |
There are plenty of electronic methods to pay someone. As jbuck mentioned, PayPal and ApplePay are two, but there are other e-payment apps and services, such as Venmo. Most large banks let you pay and transfer money to someone with their apps.
The catch is, of course, that these are all traceable.
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Pillar of the Community
United States
2023 Posts |
The other catch is that the banks or other transfer agents (e.g. PayPal) take a cut on each transaction. That's one reason why I always paid cash at the local deli when I went to lunch at my last job -- that's an extra 3% they made on each sale.
Funny how we complain when sales tax goes up by a fraction of a percent, but we don't mind paying an extra 3% every time we don't use cash.
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Moderator
United States
188952 Posts |
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As jbuck mentioned, PayPal and ApplePay are two... I should add that I personally use Android Pay at many locations around town. Quote:
That's one reason why I always paid cash at the local deli when I went to lunch at my last job -- that's an extra 3% they made on each sale. I pay cash at one spot and they round the tab down to the nearest dollar. They still come out ahead.  Quote:
Funny how we complain when sales tax goes up by a fraction of a percent, but we don't mind paying an extra 3% every time we don't use cash. To be clear, I do not pay anything extra. Yes, there are fees to the vendor, which as you imply above they typically absorb. I have never had them passed to me. "Take care of your customers..." |
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Valued Member
United States
87 Posts |
Having been a banker in a previous decade, I would have sworn that paper money would go away. But recently, my husband and I started helping my father-n-law's property management business. I have been stunned by a different cash only economy that is evident in the property management business of lower affordable housing. About half of our tenants don't even have checking accounts. Even though they didn't grow up in the great depression, they do not trust banks. These tenants get paid with cash or they immediately cash their checks, pay their bills with cash, and yes, pay their rents in cash. For example, they will go to the water department to pay their water bill with cash.
One tenant runs a taco/food type truck. She told me about it one day. She buys her supplies with cash and accepts only cash. She has a lock box welded to the bottom of the truck/van for change and holds paper money on her person. At the end of the day, she buys her supplies for the next day out of that days proceeds. What is left over, she counts and writes the amounts on a calendar. She then pays her quarterly taxes based on what she rights down on the calendar... The cash part makes it simple for her....
One day another tenant came in with a lot of cash to catch up on their rent. $1300.00 in small bills stacked on the counter is a little unnerving, but she didn't think twice about it.
The whole thing is a little crazy because I had no idea. I am not so sure the cash thing will go away any time soon.
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Moderator
United States
188952 Posts |
A very interesting perspective. Thank your sharing.
I have often wondered how many people are all-in with cash and completely eschew banks.
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Valued Member
United States
338 Posts |
I think it is a matter of time before we go cashless but I think the tax code may play the biggest part of making that happen. Each individual will have an account and the gov't will send you a tax receipt after taking your taxes out, no questions asked. In terms of collectibles e.g. coins, art ..I can see those transactions being in barter if the gov't tool doesn't want individuals to have cash on the side.
On another note, has there ever been an economy in modern times that was cashless?
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Valued Member
United States
411 Posts |
the above post about older people, my granny would get her check. he son would go to the bank and put a small amount in her checking account. he would bring the rest home to her and put it in a box in her closet. she would put some in her purse . give my sister in law some all along to pay her bills and buy food.
funny thing is when she died kim went through her purse and there was over a thousand dollars in it.
the box was almost empty.
granny lived to be 105.
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Replies: 27 / Views: 3,081 |
First Page
Posted 03/19/2017 6:13 pm
