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.
this post was submitted on 16 Nov 2024
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Even 10% is absolutely insane, especially with the ability to directly syphon their income.
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.
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.
Oh God, who will the Credit Card companies exploit?!
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.
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.
I'd expect a lot more use of buy now pay later schemes like Klarna.
It's similar to a credit card, but prevents build up of crippling debt.
I personally use my credit card and pay in full each month, not because I need the credit, but because in the UK you get the benefit of Section 75 protection on purchases. I've used that a few times when companies have gone bust. If I'd paid on debit card I'd have been screwed.
Buy now, pay later does not prevent crippling debt. It makes it easy to buy without thinking or realising the actual cost. It makes is easy to stack up invoices that you in the end can't afford.
Don’t Americans have a thing called Credit Score. If you are not paying off debt you don’t build up a score and good luck getting a mortgage without one.
It's a combination of factors. Having debt itself isn't as important as payment history, age of accounts, etc. Credit card debt is probably the opposite of helpful; paying off a card every month in full for a long time is much more useful.
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
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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Say goodbye to rewards cards if this happens.
Goodbye. Now give me the 10%.
As someone who has never paid a dime in interest on any card I've ever had, and shops around for the best reward options.... Yeah, give us the 10%!
They shouldn't exist in the first place.
The space for them exists within the monology over transactions that shouldn't generate margins that high.
Nah. Rewards cards live and die on transaction fees. They generally go to people with credit knowledge that know to pay off the card at the end of the month.
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 they core voters will just believe it.
The core voters are lost forever. Fuck them, don't think about what they're going to do.
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.
Room temperature butter is superior in both sound and splatter.
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Trump lied, he serves the rich bankers
It doesn't matter if he lied. Whenever he accidentally says the correct thing, he needs to be praised. That's how you get him to do stuff. Bernie has the right idea here. Pat this dumb motherfucker on the back and make him feel smart every time he has a broken-clock moment. That way he'll follow through.
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