LOL, Bernie knows that's never going to happen. He's just reminding the world of an empty promise that trump made, and openly offering his help so that Trump can't say the Democrats blocked him. He'll still say it, but there will be readily available evidence to the contrary, not that that's ever mattered before.
It's not polite, it's calling him out. Trump will say/lie about anything. At one point Trump said exactly this. He didn't mean it, he just said some shit.
Bernie is repeating his own words because occasionally Trump says something good without any intent to follow up.
So Bernie is taking him at his word. He knows Trump will never do it, but if he can call the hypocrite out and trick him into agreeing, why not?
I guess we'll see, but I think we can all appreciate his willingness to go straight to brass tacks and hold Trump's feet to the flame while the entire Democrat Party leadership is still busy clutching their pearls.
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 about this makes you think they aren't? Let's be real, Trump hasn't even had a chance to renege on this promise yet, since he won't be president for another two months.
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.
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.
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.
I would expect a massive nerf/devaluation of rewards if there's no poor people getting exploited.
I say this as someone who pays for all his family vacations almost entirely with points. About every year and a half. This time was Texas for the eclipse. Before that it was Disney world for my kids 5th birthday. Before that was COVID times and I used my points to buy hardwood floors that I installed throughout my house. Before that it was SC for the eclipse.
While I do feel a sense of involvement in their exploitation by being a part of this system, I'm not going to feel bad for anyone who can't follow the simple rules of the game.
Where's the line between exploitation and personal fault? I can't expect everyone who's ever owned a credit card to have been put in the same situation where it's the only way. For all I know, my last reward points trickled down from some asshat who financed a car on unemployment.
Absolutely banks will cut rewards, I know that when there was a law attempting to cap/eliminate late fees banks I am close to were discussing how they would offset the losses and rewards were on the block for that. That law is held up in Texas courts right now so the banks so far haven't had to worry about it
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.
Credit balances don't negatively impact credit scores as much as one would think. It's ultimately a combination of factors that go into an overall credit score with the heaviest hitter being payment history. If one makes all of their payments they can have a decent credit score despite carrying a 10k balance. Carrying a balance of greater than 30% of the limit will detract significantly from the overall score, but it won't knock it below "decent" range on its own.
I'm honestly not even sure how one actually gets their score below 500. My wife got a head injury and physically could not remember whether or not she'd paid her credit cards a couple of years ago, so they ended up becoming delinquent and going to collections. Ultimately it dropped her credit score to about 500 but then it started climbing back up from the car loan and mortgage that are in both of our names and is almost up to 700 again. I seriously want to know how people manage to get their scores down to the 300s (the floor is 300) because you basically have to try in order to get your score that low. A friend of a colleague managed such a feet and then had some identity theft which actually improved his credit score because it looked more like normal credit activity than his real credit activity
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?
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
Compare that to the ~30% I've seen, that's sadly an amazing shift (lol, which won't ever happen with the fascist caucus), but I commend Bernie for trying.
No, they don't charge higher transaction fees in order to pay those reward rates, they just give up on making any profit from that and instead try to profit from charging interest. Which of course is disproportionately paid from people who cannot actually afford it.
Iirc, surcharging is only illegal in 4 states. However, theres a loop hole in thise states, giving a discount on cash purchases arent considered a surcharge...
Processing or transaction fees. Anytime you use your card for a purchase the bank gets a cut of that. This fee can range from .1% to 4%, depending on the credit card processor.
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
That's literally never worked. I mean I get the idea, but it's literally never worked because republicans get elected predominantly by the deliberately uninformed.
I work blue collar, and lots of us are hopeful he will do the tax free overtime. I think he was just saying that, and I didn't vote for him, but that would be game changer.
Would it be a game changer? It means you can do overtime without being taxed for it, right? Or maybe less taxed.
That sounds like a quick and dirty way to exhaust the population even more in order to keep the bread and circus going on.
So you got the folks working 60-100 hours a week then because it makes them a lot more money, so they are just slaving their life away. Wouldn't a better fix be raising minimum wages?
What’ll actually happen under the Trump administration is that companies will be allowed to force mandatory overtime during the times they want it, and then cut your hours through the rest of the month so that your average hours are still less than 40.
What I’d like is some changes in loopholes. I worked 60-100 weeks at a movie theater as a young adult, and didn’t get overtime pay because it was the “entertainment industry.”
What people misunderstand about the tax brackets is that your entire income doesn't get moved to a higher bracket. It's only the income in excess of it.
So for example, let's say you had $50,000 of taxable income in 2024 as a single filer, you’d pay 10% on that first $11,600 and 12% on the chunk of income between $11,601 and $47,150. Then you’d pay 22% on the remaining $2,850 that falls into the next tax bracket. The total bill would be about $6,053 — about 12% of your taxable income — even though your highest bracket is 22%. And this example doesn't take into account the standard deduction.
Bottom line, this won't save people as much as they think it will. Usually the person in the example simply complains "I'm paying 22%" because it always feels like the paycheck isn't enough.
I'm not the person you're replying to, but though I agree that raising the minimum wage would be helpful, plenty of people are working overtime as is, even if they make more than 15/hr just to make ends meet. Plenty of people are working overtime for 20-30/hr. Would their wages go up if minimum wage went up? Maybe, but likely not and there's certainly no guarantee. Plus, several states already have 15 as the minimum so it wouldn't really matter to them.
I'm a dem voter, and obviously there are much better ways to help people than tax free overtime, but I understand why that would be appealing.
We need to convince Trump that the way to win a legacy is to deliver something like universal health care. Present it as a display of personal power and his unique talents, and as a branding moment like no other (beyond Obamacare). 'The Democrats couldn't do it in 50 years, but I rammed it through in 2. Got the chair of Cigna on the phone and fired him personally. Now we all have Trumpcare and even Hillary has to praise it through gritted teeth...."
The GOP tied themselves so tightly to his star that they'd have to own the pivot, or find some way to retract their allegiance. And the rest of us could at least enjoy the historic worst-person-you-know-makes-a-greatipoint moment.
I'm sure he has some evil son of a bitch on staff whose sole job is to ensure that nothing positive that trump lies about ever accidentally comes true.
I agree with you, but I can't stop the mental image of Trump pacing back and forth worrying about his credit card debt only to concoct a scheme to become president to lower his own debts interest rate. Obviously, that's not what happened but the thought is just so funny to me in the moment.
Didn't Democrats literally just take him to court over fleecing those bankers by overvaluing his own properties in order to qualify for a lower interest rate? What exactly makes you think he's in bed with them?
I read this more as “put up or shut up”. The donvict spews forth floods of verbal diarrhea, hoping no one is willing to look too closely or even remember the specific colors and chunks. This is Bernie fishing out a juicy chunk and saying: let’s go
Come on, not OP but we both know credit cards disproportionately fuck over the poor. Sometimes necessary expenses surprise you and you don't have any other choice. Personally I have great credit and 1 continually paid-off credit card but I'm not gonna pretend it's a moral failing if you don't. I know of a card that has a 40.99% interest rate here in Canada because it's marketed towards poor people with bad credit.
That's what a credit card is doing. Many, many people fall for the shiny piece of candy trick.
Fuck your Shiny candy, fuck your tooth decay. Give me 10% capped for everyone.
Tell me why Visa and Mastercard make so much profit per quarter.... (it might mean their execs now have to travel coach and stay in only 3* hotels. Boo hoo).
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.
If the mechanism by which I get 1% cash back is that it directly comes from the poor...good. this is a good thing. You are a bad person if you think it's not.
Technically, the cashback they pay you likely comes directly out of the transaction fees they collect, which means that after expenses (for running the infrastructure etc.), they make little to no profit on swipes. Which means they have to make profit somewhere else, which, you guessed it, is fleecing those who don't pay their balance off every month for as much as they can get away with.
You’re both right. The rewards are indeed mostly covered by the processing fees, but that means after covering infrastructure expenses etc., the banks are operating at a net loss (or breakeven at best), meaning they still have to fleece someone on their interest payments.
Plus those businesses pass the cost on to consumers like they do with any expense.
So ultimately, end consumers who are already being fleeced by a combination of wage theft, low wages, and high prices, are the ones who pay for everything.
I use my credit card all the time, and it's set to auto pay off all of it every month, so there is never any interest charged. It basically delays the time my money leaves my bank account from the time of purchase to up to a month later, with no downside, while building credit history. The interest may be 300%, I don't care because I'm never charged it.
Increasing one's credit [score] is helpful for when citizens want to make large purchases/transactions, such as getting a homeowner's loan and car, in the US. Having lower credit is an indicator to banks that one is not "trustworthy" with their (bank's) money. And with property prices soaring and most salaries stuck in the 60s (I may be exaggerating a little, haven't checked exact numbers lately), it's hard not to NEED a loan for those. Direct debit is nice to have, but there are advantages to credit cards if the user is wise with their money/credit knowledgeable. It's systemic.
LOL, Bernie knows that's never going to happen. He's just reminding the world of an empty promise that trump made, and openly offering his help so that Trump can't say the Democrats blocked him. He'll still say it, but there will be readily available evidence to the contrary, not that that's ever mattered before.
Trump Admin: Cap interest rates at 10%, but also we repeal the thirteenth amendment.
Democrats: No! What is wrong with you?!
Republicans: DEMONRATS WON'T WORK WITH US TO CAP INTEREST RATES AND ALSO THEY DRINK SMOOTHIES MADE OF BABIES!
Republican Voting Base: [Thunderous applause. 90% voter turnout. 99% voter loyalty.]
Everyone Else: I dunno, both parties seem the same. [Sub-50% voter turnout. Interfactional backstabbing intensifies.]
I know Bernie is being polite and playing politics, but let’s be honest: Trump keeping this promise is about as likely as Hell freezing over.
It's not polite, it's calling him out. Trump will say/lie about anything. At one point Trump said exactly this. He didn't mean it, he just said some shit.
Bernie is repeating his own words because occasionally Trump says something good without any intent to follow up.
So Bernie is taking him at his word. He knows Trump will never do it, but if he can call the hypocrite out and trick him into agreeing, why not?
To want to talk about 4D Chess? There it is.
I guess we'll see, but I think we can all appreciate his willingness to go straight to brass tacks and hold Trump's feet to the flame while the entire Democrat Party leadership is still busy clutching their pearls.
That's Bernie for ya!
If you somehow failed to detect the sarcasm that comment was absolutely dripping with, that's on you.
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.
I'd consider taking one beating vs 25% interest forever.
I'm thinking they want to put discharging debt on the chopping block.
What about this makes you think they aren't? Let's be real, Trump hasn't even had a chance to renege on this promise yet, since he won't be president for another two months.
Because he's a compulsive liar and a Republican.
Bernie calling out bullshit yet again.
Goddamn I fucking love Bernie.
Somehow I don't think Mr "Pro-Business" will hamper banks' efforts to fleece us.
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.
Watch him do it anyway.
I hope you are wrong
What that would actually mean is a complete lock-out on credit cards for the poor.
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.
I would expect a massive nerf/devaluation of rewards if there's no poor people getting exploited.
I say this as someone who pays for all his family vacations almost entirely with points. About every year and a half. This time was Texas for the eclipse. Before that it was Disney world for my kids 5th birthday. Before that was COVID times and I used my points to buy hardwood floors that I installed throughout my house. Before that it was SC for the eclipse.
While I do feel a sense of involvement in their exploitation by being a part of this system, I'm not going to feel bad for anyone who can't follow the simple rules of the game.
Where's the line between exploitation and personal fault? I can't expect everyone who's ever owned a credit card to have been put in the same situation where it's the only way. For all I know, my last reward points trickled down from some asshat who financed a car on unemployment.
Absolutely banks will cut rewards, I know that when there was a law attempting to cap/eliminate late fees banks I am close to were discussing how they would offset the losses and rewards were on the block for that. That law is held up in Texas courts right now so the banks so far haven't had to worry about it
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.
Credit balances don't negatively impact credit scores as much as one would think. It's ultimately a combination of factors that go into an overall credit score with the heaviest hitter being payment history. If one makes all of their payments they can have a decent credit score despite carrying a 10k balance. Carrying a balance of greater than 30% of the limit will detract significantly from the overall score, but it won't knock it below "decent" range on its own.
I'm honestly not even sure how one actually gets their score below 500. My wife got a head injury and physically could not remember whether or not she'd paid her credit cards a couple of years ago, so they ended up becoming delinquent and going to collections. Ultimately it dropped her credit score to about 500 but then it started climbing back up from the car loan and mortgage that are in both of our names and is almost up to 700 again. I seriously want to know how people manage to get their scores down to the 300s (the floor is 300) because you basically have to try in order to get your score that low. A friend of a colleague managed such a feet and then had some identity theft which actually improved his credit score because it looked more like normal credit activity than his real credit activity
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.
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
Doubt.
Even 10% is absolutely insane, especially with the ability to directly syphon their income.
Is Burnie trying to duck season rabbit season Trump? I'm actually curious to see if this works
No. He's calling trump out.
Yeah. One never can tell which way old men with possible dementia will twitch.
Hell, maybe he'll have a stroke and wake up with integrity and a conscience. Weirder things have happened to nicer people, after all.
Why doesn’t Bernie understand Trump was just joking when he said that?!
Talk about owning the libs!
Bernie can’t even get a joke!
Just like all that election fraud stuff. Totally joking guys. Got you good eh?
I hope you are joking.
Imagine that, scooping up cold butter on a spatula and slapping it indiscriminately on your partner’s exposed butt.
Room temperature butter is superior in both sound and splatter.
Agreed.
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.
You don't?
( ͡° ͜ʖ ͡°)
Might be my background - lived half my life in a country where credit cards are interest-free for religious purposes - but 10% still seems insane.
Compare that to the ~30% I've seen, that's sadly an amazing shift (lol, which won't ever happen with the fascist caucus), but I commend Bernie for trying.
I'd never heard of this, how do the banks make any money on the card, annual fees or something?
They already make 2-3% on every purchase
That’s a good point - there are transaction fees that could support the business. And we even inflate those with cash back and other rewards
No, they don't charge higher transaction fees in order to pay those reward rates, they just give up on making any profit from that and instead try to profit from charging interest. Which of course is disproportionately paid from people who cannot actually afford it.
Which is an insane return by itself if people use their cards for everything, as they do in the US.
No, we had a flat annual fee for usage. There was a fee for withdrawing cash but no making purchases.
The merchant is charged the fee, not you directly as the cardholder. It's already figured into the price if they accept cards.
Credit cards companies have a merchant fee, ussually around 2%.
It was illegal for vendors to charge a fee for card purchases, so if that was the case then they maybe just raised their prices.
Iirc, surcharging is only illegal in 4 states. However, theres a loop hole in thise states, giving a discount on cash purchases arent considered a surcharge...
Processing or transaction fees. Anytime you use your card for a purchase the bank gets a cut of that. This fee can range from .1% to 4%, depending on the credit card processor.
Yes, we had a flat annual fee for use.
Which country has interest free credit cards due to religious purposes? I googled it but did not find anything.
Usury is forbidden (haram) in Islam, so many Muslim majority countries do in fact do this.
I know that is how Saudi Arabia works. Other sharia countries do the same too, from what I am to understand.
Malaysia and Indonesia come to mind.
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 their core voters will just believe it.
The core voters are lost forever. Fuck them, don't think about what they're going to do.
That's literally never worked. I mean I get the idea, but it's literally never worked because republicans get elected predominantly by the deliberately uninformed.
What good things that Trump did promise? I am surprised that he promised this even though we know that it won't happen.
Populists promise lots of good things; it’s just that most ring-wing populists tend to have their fingers crossed behind their back.
How anyone could trust a man that cant even pay his contractors is beyond me.
According to their fucked-up logic, not paying his bills makes him smart because he’s saving money!
Never mind that the types of people he refuses to pay tend to be working stiffs. 🤦🏻♂️
It's not about right wing or left wing populists. All populists lie because the only thing they want is to see their face on TV and to be in power.
I work blue collar, and lots of us are hopeful he will do the tax free overtime. I think he was just saying that, and I didn't vote for him, but that would be game changer.
Would it be a game changer? It means you can do overtime without being taxed for it, right? Or maybe less taxed.
That sounds like a quick and dirty way to exhaust the population even more in order to keep the bread and circus going on.
So you got the folks working 60-100 hours a week then because it makes them a lot more money, so they are just slaving their life away. Wouldn't a better fix be raising minimum wages?
That's what capitalists want, workers racing each other to the bottom.
What’ll actually happen under the Trump administration is that companies will be allowed to force mandatory overtime during the times they want it, and then cut your hours through the rest of the month so that your average hours are still less than 40.
What I’d like is some changes in loopholes. I worked 60-100 weeks at a movie theater as a young adult, and didn’t get overtime pay because it was the “entertainment industry.”
What people misunderstand about the tax brackets is that your entire income doesn't get moved to a higher bracket. It's only the income in excess of it.
So for example, let's say you had $50,000 of taxable income in 2024 as a single filer, you’d pay 10% on that first $11,600 and 12% on the chunk of income between $11,601 and $47,150. Then you’d pay 22% on the remaining $2,850 that falls into the next tax bracket. The total bill would be about $6,053 — about 12% of your taxable income — even though your highest bracket is 22%. And this example doesn't take into account the standard deduction.
Bottom line, this won't save people as much as they think it will. Usually the person in the example simply complains "I'm paying 22%" because it always feels like the paycheck isn't enough.
I'm not the person you're replying to, but though I agree that raising the minimum wage would be helpful, plenty of people are working overtime as is, even if they make more than 15/hr just to make ends meet. Plenty of people are working overtime for 20-30/hr. Would their wages go up if minimum wage went up? Maybe, but likely not and there's certainly no guarantee. Plus, several states already have 15 as the minimum so it wouldn't really matter to them.
I'm a dem voter, and obviously there are much better ways to help people than tax free overtime, but I understand why that would be appealing.
it's been long enough that minimum wage should be $25/hr anyways
Smart workers then get contracts that specify anything over two hours a week is overtime.
not how that works
Flying cars.
I'm not joking.
Who knows? Good things might happen while Trump golfs and rambles. Probably not, but it could theoretically happen.
We need to convince Trump that the way to win a legacy is to deliver something like universal health care. Present it as a display of personal power and his unique talents, and as a branding moment like no other (beyond Obamacare). 'The Democrats couldn't do it in 50 years, but I rammed it through in 2. Got the chair of Cigna on the phone and fired him personally. Now we all have Trumpcare and even Hillary has to praise it through gritted teeth...."
The GOP tied themselves so tightly to his star that they'd have to own the pivot, or find some way to retract their allegiance. And the rest of us could at least enjoy the historic worst-person-you-know-makes-a-greatipoint moment.
I'm sure he has some evil son of a bitch on staff whose sole job is to ensure that nothing positive that trump lies about ever accidentally comes true.
Bernie should run for president one of these days...
Hey biscuit
You forgot the butter.
Trying to get that from the userer-in-chief is gonna be a nogo
I agree with you, but I can't stop the mental image of Trump pacing back and forth worrying about his credit card debt only to concoct a scheme to become president to lower his own debts interest rate. Obviously, that's not what happened but the thought is just so funny to me in the moment.
Trump lied, he serves the rich bankers
Didn't Democrats literally just take him to court over fleecing those bankers by overvaluing his own properties in order to qualify for a lower interest rate? What exactly makes you think he's in bed with them?
Ok, time and place Mr biscuit?
You can call me Pooh bear. It's gonna be honey butter.
Wow, Bernie is willing to work with actual Hitler?? ( ͡° ͜ʖ ͡°)
I read this more as “put up or shut up”. The donvict spews forth floods of verbal diarrhea, hoping no one is willing to look too closely or even remember the specific colors and chunks. This is Bernie fishing out a juicy chunk and saying: let’s go
I agree with you, but did you really have to use the phrase "fishing out a juicy chunk" in the context of diarrhea?
I know right?
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%!
Do you realize that you can pay 0% if you pay a card in full, and still get the reward?
Why are you trying to take something away from me just because you're terrible with money?
Come on, not OP but we both know credit cards disproportionately fuck over the poor. Sometimes necessary expenses surprise you and you don't have any other choice. Personally I have great credit and 1 continually paid-off credit card but I'm not gonna pretend it's a moral failing if you don't. I know of a card that has a 40.99% interest rate here in Canada because it's marketed towards poor people with bad credit.
Capitalism targets the weak, but let's not take away that guy's 1% cash back (3% on groceries if you activate now!!)
Shiny piece of candy over here!
Look here! Shiny!
NO! Don't look anywhere else. Look here, Shiny piece of candy!
That's what a credit card is doing. Many, many people fall for the shiny piece of candy trick.
Fuck your Shiny candy, fuck your tooth decay. Give me 10% capped for everyone.
Tell me why Visa and Mastercard make so much profit per quarter.... (it might mean their execs now have to travel coach and stay in only 3* hotels. Boo hoo).
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.
Transaction AND interchange++ fees.
This is why many shops won't take AMEX cards: 3.95% transaction fee! GTFO
If the mechanism by which I get 1% cash back is that it directly comes from the poor...good. this is a good thing. You are a bad person if you think it's not.
Technically, the cashback they pay you likely comes directly out of the transaction fees they collect, which means that after expenses (for running the infrastructure etc.), they make little to no profit on swipes. Which means they have to make profit somewhere else, which, you guessed it, is fleecing those who don't pay their balance off every month for as much as they can get away with.
I mean that's certainly a possibility but if it helps some people get out of debt, I won't be mad about it.
I don't understand, why use credit cards if 25% interest rate is charged?
I don’t understand, why don’t they just eat cake?
Starve now, or later?
The interest rate is charged if you don't make your payments. Otherwise, you get rewards each time you spend which makes things a little cheaper.
The “rewards” come off the backs of poor people paying these usurious interest rates.
They actually cone from the charges they push onto businesses to process the payments. The interest rates are just profit
You’re both right. The rewards are indeed mostly covered by the processing fees, but that means after covering infrastructure expenses etc., the banks are operating at a net loss (or breakeven at best), meaning they still have to fleece someone on their interest payments.
Plus those businesses pass the cost on to consumers like they do with any expense.
So ultimately, end consumers who are already being fleeced by a combination of wage theft, low wages, and high prices, are the ones who pay for everything.
Because it's very difficult to live in our society without a credit history.
I use my credit card all the time, and it's set to auto pay off all of it every month, so there is never any interest charged. It basically delays the time my money leaves my bank account from the time of purchase to up to a month later, with no downside, while building credit history. The interest may be 300%, I don't care because I'm never charged it.
I do the same, but I think they were asking for people who can't pay it off. Those are absurd rates.
Agree 100%
Why even have it then, and not just direct debit? Or is that something American banks don't offer?
I am not in the US. But the purpose is gaining credit score and rewards, at no cost.
So just like grinding in a video game, but irl. Bcs they can just make you do that or don't have normal opportunities in life. Wild.
Increasing one's credit [score] is helpful for when citizens want to make large purchases/transactions, such as getting a homeowner's loan and car, in the US. Having lower credit is an indicator to banks that one is not "trustworthy" with their (bank's) money. And with property prices soaring and most salaries stuck in the 60s (I may be exaggerating a little, haven't checked exact numbers lately), it's hard not to NEED a loan for those. Direct debit is nice to have, but there are advantages to credit cards if the user is wise with their money/credit knowledgeable. It's systemic.
Yes, I still can't believe credit scores of private citizens are legal.