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Theres about 0% chance of this happening without something totally catastrophic being bundled alongside it, like allowing creditors to come into debtors homes and beat them with sticks.
I'd consider taking one beating vs 25% interest forever.
I'm thinking they want to put discharging debt on the chopping block.
Strange how every time somebody takes an idea Republicans spouted that would actually help people, and decide to run with it, conservatives suddenly aren't so keen on the idea anymore.
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Even 10% is absolutely insane, especially with the ability to directly syphon their income.
Trump promises require GOP to back him up to ever get close to being implemented. GOP have always voted against bank regulation/extortion limiting. People earning tips are not big GOP donors, so fuck them. Taxes on SS are only paid by richest SS earners, but GOP have been going around on trying to get overall SS cuts.
Any promise not Project 2025 is politician lip moving meant to bring Project 2025.
Since trump's party controls the entire gov right now he is going to be pissed when he learns he can't blame his failures on the dems for most of the country.
He absolutely still can, his voting bloc is full of low information voters that just want validation for the racist/misogynistic hate they feel
Key dem senators were bribed to sabotage Biden's climate and other agendas. Confirmations for any anti pharma/war cabinet picks are certainly bribable. Gaetz is no problem, even if fuss made, though. There is some hope that the stupidity of destroying EVs and IRA gets blocked. Spending $1T to deport millions is going to have lobbyists intervene too.
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What that would actually mean is a complete lock-out on credit cards for the poor.
I don't see that as a real problem. Because as it is now, credit cards are something poor people should avoid at all costs.
No, it's a thing idiots should avoid at all costs.
A card with a 2% reward across the board(Fidelity for instance) can be used as a proxy for your debit card week to week.
It builds my credit, gives me a group of attack dogs to sic on anyone who rips me off, and gives me a cushion if I ever need it. If you never exceed your expenses and never reach beyond your means, it's no different in consequence than paying with anything else, with a little added bonus credit and reward.
It's people and their lack of self control that ruin credit cards.
I would expect a massive nerf/devaluation of rewards if there's no poor people getting exploited.
I say this as someone who pays for all his family vacations almost entirely with points. About every year and a half. This time was Texas for the eclipse. Before that it was Disney world for my kids 5th birthday. Before that was COVID times and I used my points to buy hardwood floors that I installed throughout my house. Before that it was SC for the eclipse.
Absolutely banks will cut rewards, I know that when there was a law attempting to cap/eliminate late fees banks I am close to were discussing how they would offset the losses and rewards were on the block for that. That law is held up in Texas courts right now so the banks so far haven't had to worry about it
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Oh God, who will the Credit Card companies exploit?!
Considering how many Americans have crippling credit card debt, especially poor people, would that be worse? I'm sure they'd still offer those credit builder cards with low limits that you have to deposit collateral for the limit.
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Sure, if we presuppose that credit cards exist as a way for a middleman company to make a huge profit and pay their CEO tens of millions of dollars annually. If we instead consider them a regulatable utility, the necessary rates for viable operation go pretty far down. The business model of “convenience is free or even costs less than cash for those who already have plenty, and this convenience is funded by the destitute who are being held down by the exact same people” is also suspect to begin with, and I’d rather DiSrUpT tHe EcOnOmY than remain complicit, which I am
Actually asking, not rhetorical: if poor people are already getting charged based on what they can afford, would this policy exert a downward force on prices?
So way less financing options, slightly more buying outright?
Problem is the assumption that prices would go down if some people cannot afford it.
Whats happening instead is people going hungry and homeless.
The reason for this is that Supply:Demand Equilibrium is further up in price range where fewer sales at higher value yields the maximum profit.
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Imagine that, scooping up cold butter on a spatula and slapping it indiscriminately on your partner’s exposed butt.
Go on...
Next the step involves a little setup before hand. You use microwaved butter and a funnel, then drizzle it while its hot.
I'm not sure I want to imagine that in this context. Other contexts, no problemo. Just not this one.
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Might be my background - lived half my life in a country where credit cards are interest-free for religious purposes - but 10% still seems insane.
Compare that to the ~30% I've seen, that's sadly an amazing shift (lol, which won't ever happen with the fascist caucus), but I commend Bernie for trying.
I'd never heard of this, how do the banks make any money on the card, annual fees or something?
Processing or transaction fees. Anytime you use your card for a purchase the bank gets a cut of that. This fee can range from .1% to 4%, depending on the credit card processor.
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ha ha ha ha ha ha riiiiight good one bernie
If Dems all act eager to act on Trump's actually good promises (untaxed tips for instance), it'll bite the GOP that much more when he backs out of those promises
I hope so, but they'll just blame the Dems anyway and their core voters will just believe it.
The core voters are lost forever. Fuck them, don't think about what they're going to do.
That's literally never worked. I mean I get the idea, but it's literally never worked because republicans get elected predominantly by the deliberately uninformed.
Hey biscuit
You forgot the butter.
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this post was submitted on 16 Nov 2024
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