An alternative way to view Trump’s proposal is that he is advocating cutting off credit to lower income Americans:
“… Borrowers in lower- and middle-income households who carry balances would benefit the most from caps on credit-card charges. But they would also be the first ones banks would stop lending to if Trump’s cap were passed, said David Robertson, publisher of the Nilson Report, an industry publication.
“Wall Street banks would say, how much further risk do I want to bring on given the fact that my revenue is shrinking?” Robertson said. “That’s where the rubber meets the road.” …”
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Perhaps something where interest is capped at some level so long as no more credit is open for use? It is tough to make work in the real world, outside perhaps a national 18% consumer credit cap or something like that … I assume the no limits/high limit usury states that profit off of credit card issuers being based there would squawk, as would states rights proponents.