Sen. Roger Marshall (R-KS) writes that Visa and MasterCard “have gotten hoggish on the backs of hardworking Americans” thanks to swipe fees. Marshall is a free thinker in good standing, which is why his stance on Visa and MasterCard is so surprising. Not only is Marshall bothered by their $25 billion in combined annual profits, he wants to legislate away their prominence in the marketplace.
The happy news is that what Marshall wants doesn’t require legislation. Indeed, while no less than Jeff Bezos made plain through Amazon long ago that “your margin is my opportunity,” Bezos would surely agree that his brilliant quip was as old as commerce is. And it still applies.
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