Comment Re: Something to learn (Score 1) 42
That's bullshit
No way he came out of a sweet anything
That's bullshit
No way he came out of a sweet anything
Stupidity hurts, yes. Thankfully it hurts the idiot the most, sadly they are too stupid to realize that.
People mad at EVs reach peak dumbass.
What you want is for everyone else to suffer and fuck them. You're like so many other inbred fucks who settled Oregon after the South lost the war.
What you want is no inconvenience for yourself even if everyone else gets fucked. It's right in your handle.
Maybe this will force card companies to dump the rewards/cash back scam.
Why would reducing the interest rates (assuming Trump could do that, which he can't) have any effect on that? As you point out, those rewards aren't funded by interest, they're funded by transaction fees. If interest rates went down it would just cause people with bad to mediocre credit to lose their credit cards because the interest rate isn't high enough to justify the risk. It wouldn't affect those who have good credit and don't carry balances on their credit cards anyway, and that's the crowd that gets the rewards cards.
I still think the swipe fee should be a line item on the credit card user's receipt. Stop screwing the cash payer, which is already most likely poor or really smart.
I agree, except merchants should also add a "cash handling" fee for those who pay with cash. Cash is surprisingly expensive for merchants to deal with. Between "shrinkage" (i.e. theft), the labor required to count, manage secure and deposit it, and the fees merchants pay to banks for cash delivery, it adds up to a surprising total, somewhere around 1-2% of cash transaction volume. High-volume merchants like grocery stores pay an additional "cash tax" in the form of reduced throughput because it takes longer (especially when you get that customer who insists that she has exact change, just a moment while she digs through her purse to find it), and it also makes self-checkout lane equipment more expensive to buy and maintain, to the point that most just refuse to buy self-checkout equipment that is capable of accepting cash.
Honestly, the most efficient payment is something like a credit or debit card, but with a competitive structure and implemented in your phone (a la Google Wallet or Apple Pay). If you put those fees on the customer's receipt it would motivate people to seek cheaper fee structures. That would incentivize competition between merchant acquirers and card issuers to provide the lowest possible transaction price for merchants and consumers both. I expect the fees would end up in the 0.1-0.3% range, below debit cards and below cash (debit card fees are already lower than what it costs to manage cash).
You say that like it's a bad thing. There are some people who are irresponsible with their personal finances
You mean like how Trump loads corporations up with debt and then has them go bankrupt in order to avoid paying taxes?
This isn't going to magically solve that problem, but it will enable some people who've learned a hard lesson to have an easier time crawling out of the mound of debt they've buried themselves under.
It's not going to solve any problems because it's not going to happen. The president is not a dictator (though not for lack of trying to be one) and his word is not law, despite him thinking it is (see ArchieBunker's link above.)
It's basically the same overreaction
It only seems like an overreaction if you have had your head completely up your ass since before his first presidency. Try paying attention to what's actually happening sometime.
I assume their goal was to pander to voters who don't understand economics, same as Trump's goal.
Which actually makes me dislike them a little bit more. Trump is an ignoramus who listens to no one with a clue, has no concerns beyond the present moment and always says whatever he thinks will help him the most right now, without regard to truth or reason. Sanders and AOC are allegedly smart and serious politicians who undoubtedly have access to good economic advice and yet still say this stuff.
"LOL, I'm sure people would see that they now have a 10% cap on their CC interest rate and jump to one with an interest rate more than 10%.
If you are a high risk debtor you would not end up with a 10% capped CC: you would end up without CC altogether since creditors would deem the risk not adequately covered at a 10% cap.
That's what would drive these high risk debtors to "unregulated, more costly alternatives", since I doubt they suddenly would become eligible for better forms of credit, or not need the credit altogether.
Trump's plan would be an absolute bonanza for the payday loan and title loan places. Pawn shops would probably get a big boost, too. And the illegal lenders, AKA loan sharks.
That's neat, I'm glad it's working, I just hope it doesn't leave yet another toxic debt. Cyanobacteria commonly produce toxins.
Remember we had to vote against Harris because she wanted anti-price gouging measures and those were declared un-American and Socialist (but they would have been actually voted on)
Here we get potential worse price controls and done via executive fiat because in this admin everything has to be run through the WH. I don't even think Trump considers that Congress is a thing.
You know, I never much cared for Congress. But now that it's gone, I find that I miss it.
So all you've shown is a lot of evidence that you don't understand what fascism is. Thanks for clarifying that.
He hasn't really brought it up since.
I'm sure he'll bring it up again sometime, once he gets tired of bombing shit. OTOH, bombing shit is pretty entertaining, so maybe not.
that he solved the 'affordability crisis' by making it cheaper for people to go into perpetual debt.
Well, at least that would be the case if he actually had any power to institute a cap, and if the cap wouldn't result in credit cards simply becoming unavailable to large swaths of the American public.
If Liz Warren said the same thing, you'd be applauding.
If she said it, she'd be saying it for a different reason.
Some of us care how things are done, which is informed by why.
Some are stupid enough to not care, or corrupt enough to use a disingenuous argument, or both.
Take your work seriously but never take yourself seriously; and do not take what happens either to yourself or your work seriously. -- Booth Tarkington