- What will be the unintended consequences of this, if passed into law? Fewer e-Bay transactions? Less readable purchase descriptions on your credit statement? More readable?
- I would guess there are somewhere around a billion transactions per day. Can they really do anything practically useful with that information?
- What does this have to do with housing? I know, riders need not matter.
- Can they make the data available to economists? Pretty please?
Saturday, July 26, 2008
Name the Unintended Consequences...Credit Card Reporting
Flying around the blogs is the story that the new housing bail-out bill contains a provision that all credit card transactions must be automatically submitted to the IRS. This begs the following questions: