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submitted 3 months ago* (last edited 3 months ago) by plinky@hexbear.net to c/the_dunk_tank@hexbear.net

How can us government can afford such largess, they should include disadvantaged communities somewhere

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[-] AernaLingus@hexbear.net 73 points 3 months ago

Kamala Harris announces the Biden-Harris plan to eliminate medical debt dean-smile

as a consideration in credit scores dean-frown

[-] NewAcctWhoDis@hexbear.net 7 points 3 months ago

Seriously this has to be intentional

[-] WafflesTasteGood@hexbear.net 50 points 3 months ago

This is informally already a thing. Most lenders largely ignore medical debt so they can lend more and take in those sweet interest payments.

[-] emizeko@hexbear.net 48 points 3 months ago

once again electoralism merely ratifies decisions already made by capital

[-] Infamousblt@hexbear.net 48 points 3 months ago* (last edited 3 months ago)

Oh wow now you can get a loan you can't afford while you're buried under a mountain of medical debt you also can't afford. Thanks Dems very helpful

[-] ChaosMaterialist@hexbear.net 28 points 3 months ago

the-democrat jokermala But the new loan has less interest! See how progressive I am?!

[-] WhatDoYouMeanPodcast@hexbear.net 12 points 3 months ago

Here's the thing: it's working as intended. I think the intended path is to be so entrenched in debt as to be someone else's problem that either 1) you have to go in on a whacky money making venture together or 2) die and leave all the assets to your children so they can then repeat the cycle on a grander scale. I don't think being debt free is part of the wealthy equation.

[-] Infamousblt@hexbear.net 13 points 3 months ago

Oh definitely. Interest on debt counts as GDP by the US metrics. More debt = more interest = higher GDP. It's why one of the biggest contributors to GDP is the financial sector. The government has a vested interest in keeping as many people under as much debt as possible because it helps their donors make more money and helps "the economy" line go up . This is definitely just more of the same.

[-] CyberSyndicalist@hexbear.net 6 points 3 months ago

We won't help you not die in the present but we will help you once you are no longer a temporarily embarrassed billionaire.

[-] Dirt_Owl@hexbear.net 28 points 3 months ago

Lmao fuck Democrats are useless.

Cancel student debt, enact universal healthcare for all, regulate housing to prevent high rent. Even that is the bare minimum.

[-] emizeko@hexbear.net 26 points 3 months ago

I'm sure the Apple News type apps will conveniently cut off these headlines at "eliminate medical debt" and leave out "as a consideration in credit scores"

[-] FnordPrefect@hexbear.net 20 points 3 months ago

Insurance companies are like: porky-scared-flipped

So the dems decide to pre-emptively compromise:

kamala-coconut-tree It won't affect your score, but it also won't be discharged in bankruptcy. It's only fair!

[-] ChaosMaterialist@hexbear.net 19 points 3 months ago

but it also won't be discharged in bankruptcy. It's only fair!

i-love-not-thinking redacted-1redacted-2 minecraft

[-] Des@hexbear.net 19 points 3 months ago

when we went to get a mortgage (we lucked out it was right before the real estate price explosion) the mortgage company basically said medical debt didn't count

they just pretended like it didn't exist because they considered it fake

so what is this just formalizing this or something? i mean the whole thing is a joke

also with the way various insurance industries are collapsing left and right i think the funniest outcome would be for the entire health insurance industry to collapse, be nationalized, and de facto made into a nationalized system because theres simply no profitability anymore. similar to where home insurance is going

[-] AntiOutsideAktion@hexbear.net 18 points 3 months ago
[-] GlueBear@hexbear.net 5 points 3 months ago

I don't want to know whatever the fuck is going on in that picture but can you at least put it as NSFW?

[-] Poison_Ivy@hexbear.net 5 points 3 months ago

Why would it be put at NSFW?

[-] GlueBear@hexbear.net 6 points 3 months ago

My brain is cooked dawg, don't mind me agony-deep

[-] SacredExcrement@hexbear.net 16 points 3 months ago* (last edited 3 months ago)

hahahaha she's taking credit for that huh

As other people pointed out, it is informally disregarded, and actually became a minor talking point earlier this year

But even with the changes, some 15 million people — many of them living in low-income communities and in the South — still have medical bills in their credit files, the Consumer Financial Protection Bureau reported. Rohit Chopra, the bureau’s director, said in a statement that “further reforms” were needed to scour medical debt from credit histories. The bureau is considering a rule to ban medical debt from consumer credit files.

The proposed rule in question is quite literally for that

The Consumer Financial Protection Bureau (CFPB) today announced it is beginning a rulemaking process to remove medical bills from Americans’ credit reports. The CFPB outlined proposals under consideration that would help families financially recover from medical crises, stop debt collectors from coercing people into paying bills they may not even owe, and ensure that creditors are not relying on data that is often plagued with inaccuracies and mistakes.

The CFPB bill sounds better than this garbage they're trying to attribute to Harris lmao, so either they didn't get all the details before trying to place it at her feet or she is trying to do something and it's even less substantial than this.

[-] marxisthayaca@hexbear.net 8 points 3 months ago

pretending the problem doesn't exist by not having it reported. This is a nominal way of improving your credit score, but goddamn what a bunch of stupid cowards.

[-] SacredExcrement@hexbear.net 6 points 3 months ago* (last edited 3 months ago)

Yeah. As AernaLingus noted

Kamala Harris announces Biden/Harris plan to eliminate medical debt geordi-yes

as a consideration in credit scores geordi-no

[-] plinky@hexbear.net 7 points 3 months ago

idk, video seems old (or dems are nuts, because she is still talking about child tax credit cutting poverty in half)

[-] SacredExcrement@hexbear.net 9 points 3 months ago

Looks to be from this June

The 'fact sheet' at least attributes it correctly, this account just seems dedicated to worshipping her and did not bother to actually incorporate the details

So yes, liberals are crazy for trying to use that expired 'Tax Credit' still lmao

[-] plinky@hexbear.net 7 points 3 months ago
[-] GrouchyGrouse@hexbear.net 16 points 3 months ago

Lmao this system as it currently functions is like "ha ha your pancreas exploded when you are poor banks will never allow you access to a mortgage" and people aren't fully ready and willing to burn the entire thing down to the foundation. Americans are so cucked.

[-] HelluvaBottomCarter@hexbear.net 11 points 3 months ago

If your medical debt occupies the same set as the manifold of real numbers as your credit score, and is continuous along all boundaries, you will receive a voucher that grants one small business to the holder during period of which your student loan is non-delinquent.

[-] Tomorrow_Farewell@hexbear.net 9 points 3 months ago

Working-class people should avoid loans like a plague.

The only (individual) people whom loans benefit are capitalists, landlords, and the like, as they can spend money to increase their incomes, meaning that they can take a loan and end up with more money than they need to pay specifically as a result of taking said loan.

[-] piccolo@hexbear.net 2 points 3 months ago

Thoughts on mortgages (if one can afford them, of course)? Seems to me like the interest is a smaller price to pay than rent if you don't intend to move for a while

[-] Tomorrow_Farewell@hexbear.net 3 points 3 months ago

Thoughts on mortgages (if one can afford them, of course)?

Depends, but yes, there is a case for it. At least arguably, the same applies to student loans in places where you are basically forced to take them to get educated (I am fortunate to live in a saner place - I didn't pay anything for my education, and was, in fact, paid (a tiny amount) to study).
Nevertheless, loans are generally very bad for working-class people, and should be avoided when possible and when the alternatives are not even more costly.

Seems to me like the interest is a smaller price to pay than rent if you don't intend to move for a while

In this case, you are lowering your expenditures elsewhere, so, in that case you do benefit.

[-] The_Jewish_Cuban@hexbear.net 8 points 3 months ago

Credit payments are just more debt agony-shivering

[-] Red_sun_in_the_sky@hexbear.net 8 points 3 months ago

Breaking : In a massive announcement I plan to take a shit. Retweet so all burgerland will see this.

this post was submitted on 25 Jul 2024
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