10-04-2022, 12:03 AM
Double Naught Spy Wrote:Good stumping, sort of like saying he is against it, but pretty much just a fantasy as described. I would not count on this campaign promise of being the ban that he describes. However, imagine if they did do it and all of a sudden MILLIONS of Floridians no longer had access to their credit cards because the companies were banned, millions of Floridians that rely on credit cards for day to day transactions, recurring bill payments, emergencies, etc. Imagine the BILLIONS of tourist dollars lost each week if all of a sudden credit cards were banned in Florida. Tourism would collapse. Here is a neat example. Imagine the hundreds of thousands of people of the tourist industry all of a sudden out of jobs after thousands of business failures because Florida would not allow credit cards? Between crippling his own people and crippling a primary source of income for Florida (tourism), such a move would cripple the Florida economy worse than IAN or anything else they have seen previously.
If he was to accomplish this, the credit card companies would lose some money, no doubt, but Florida would be a disaster area. Imagine the riots. Imagine the exodus of residents to credit card friendly states that have jobs. House values would decline sharply. People would be so far upside down on the mortages without jobs and without being able to sell their homes at anything but change on the dollar. People won't be able to pay their property taxes without jobs. Government services would falter.
Of course, they won't ban credit card companies that do this and he knows that, so then he waffles...
cited from the article
He might be able to work with the legislature to try to penalize companies, but that doesn't mean it will happen and even if they penalize the companies, they won't ban them from operating in Florida. At best, they will make such tagging of transactions illegal, but the credit card companies will remain and will being doing business in the state.
He has the right attitude, but he is stating/promising what he can't deliver (banning) and may have trouble delivering (penalizing).
Maybe you should read the article again. He says he wants to ban their business WITH the State of Florida, he didn't say IN the State of Florida. The way it's worded, it won't affect private citizens at all. Just the state government (and presumably this will also impact local governments as well) won't use the credit cards of whatever company that breaks the law. Government issued credit cards are very common and for a credit card company to suddenly lose the business and the interest of hundreds of thousands of dollars every month is a huge hit to the companies bottom line.