In the Washington Examiner, Daniel Ballon and Lawrence McQuillan criticize a bill pending in Congress that would lead to credit card companies reducing their rebates to credit card holders. It would restrict the fees the companies can contractually charge retailers to process payments from their cardholders, leaving them with less margin to pass on to consumers. Right now, I receive up to 5 percent in rebates from my credit cards for the purchases I make, but if this bill passes, those rebates will surely fall, costing me more for gas and groceries. Ballon and McQuillan point out that if the bill passes, it “will result in fewer cards, higher annual fees, rising interest rates and the end of rewards programs.” CEI’s Ryan Radia discussed this bill earlier.
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Unfortunately, Ballon and McQuillan spend most of their op-ed repeating the dangerous lie that antitrust laws protect consumers. Rather then focusing on the proposed price control board that would be controlled by the FTC and DOJ, the authors use a lot of scare words to mislead people into thinking retailer “price fixing” is a looming menace.
Education is truly an important aspect in the success of a nation. A new administration is about to take over, and education is a topic that’s hovering on the minds of many. What will president-elect Barack Obama do to improve the massive groups of students and teachers in America? In an article at The Apple, Obama’s first step into the development of education is focused on No Child Left Behind. He does not intend to scrap the program, but he does want to reform it, particularly when it comes to standardized testing. He is against preparing students all year to “fill out bubbles.†As long as the performance is up to standard, both Obama and Vice-President Elect Biden will support charter schools. Teachers at charter schools and beyond find Obama's incentives like Teacher Service Scholarships and various pay rewards hopeful. Moreover, a major part of the president-elect’s proposal is to enhance Early Head Start Programs and provide tax credits for college education. Restoring faith in the American educational system via these ideas and more will surely lead to the kind of credit repair the country needs – where the currency is a vibrant workforce that is equipped and ready to lead America into the future.Click to learn more about Credit Repair.