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Yes, he suggested a national 10% cap.Wait, Trump proposed a cap on credit card interest rates?
Nice populist take, but its a terrible policy.
Why is it a terrible policy? Not disagreeing. I can see pros and cons. But you seem definitive, and you usually have good reasons when you take a hard stance.Wait, Trump proposed a cap on credit card interest rates?
Nice populist take, but its a terrible policy.
Because credit cards are essentially a non-collateralized loan.Why is it a terrible policy? Not disagreeing. I can see pros and cons. But you seem definitive, and you usually have good reasons when you take a hard stance.
I was so hoping he had posted this, which is a musical masterpiece.
OK, if we are speaking specifically of his 10% proposal. Then yes, that's a terrible proposal. But I think there is a level where rates become so usurious that they are just a baited trap for poor people.Because credit cards are essentially a non-collateralized loan.
If you cap interest at 10%, a whole lot of folks will either no longer “qualify” for credit cards or will be given tiny card limits due to fear of lack of repayment. (Or the cc companies will simply create 15 new “fees” to make up for the lost interest.)
Credit would become significantly harder to get, which is a problem in a society where a relatively small percentage of people have enough cash saved to handle an unexpected car repair.Why is it a terrible policy? Not disagreeing. I can see pros and cons. But you seem definitive, and you usually have good reasons when you take a hard stance.
How’re you feeling, Don?
How’re you feeling, Don?
But there are still millions who think he’s the second coming.Again the projection....
HE is the national nightmare. People are bored with him. He was new and fresh to people 8 years ago. Now he's a bumbling old man with no new ideas and a brain that's disintegrating. He's harder to listen to than RFK
It also seems like a lot of governmental intervention.Because credit cards are essentially a non-collateralized loan.
If you cap interest at 10%, a whole lot of folks will either no longer “qualify” for credit cards or will be given tiny card limits due to fear of lack of repayment. (Or the cc companies will simply create 15 new “fees” to make up for the lost interest.)