No loans at all. That is what social services are for.
Well, good thing you taught them well. But many college students and even elderly people with dementia did not fair as well. No credit cards period. If you do not have it to spend- then it is just a loan.
Yes! I have actually overheard people ( on lines ) say that they have at least 10000 in credit card debt- then they take out a credit card to pay for an item!
I would say both can exist in a fair economy that is well regulated. There have been serious proposals were credit card companies could compete on only 4 numbers (which I don’t recall obviously interest rate is one). Credit cards are also safer then debit card where your money is lost after a fraud and it can be quite tough to get back (this read on a recent Ralph Nader radio hour).
Pay day lenders seem like leeches but if regulated well enough I see no reason why they couldn’t exist either.
I suppose those with that much debt go bankrupt and do not own their home.
I actually have friends who live in constant debt and keep on spending. I guess that as long as they pay their utility bills and put something down on their credit cards, they manage. That is just not my style and I do not even thing that I am good with finances. I just do not want a negative balance at any time.
- How are you planning to set these “low” interest rates? Seems pretty arbitrary and ultimately just a welfare payment from the taxpayer. Lovely.
- Requiring longer time between billing and payment. So the bank takes the risk but can’t get paid back pursuant to that risk. So you’d destroy the market for these loans. Lovely.
- So $15 per hour (an arbitrary number as it is) isn’t high enough for you. What would merf’s preferred minimum wage be?
- Though I believe nationalizing our health system would be a disaster and pure evil, the efficacy of the plan is beside the point. The point is that you’ve described an indirect solution to a direct problem. Someone needs liquidity immediately. Telling them they can’t get the money but at least they can go to their doctor and not have to pay out of pocket doesn’t help them! They still need the money now!
None of your so-called solutions are solutions. In the end all you do is eliminate options. People need money quickly. There’s a market for that. Just let the market perform like it’s supposed to.
The minimum wage hit is purchasing power peak in 1968 at $1.60 which is about $11.50 in today’s dollars. $15 is a significant bump to that which I and most everybody here (except trolls) think is a good idea sInce many people are stuck at minimum wage jobs - it isn’t just 16 year olds making gas money and unless you are in a very low cost area it is hardly possible to get by. Conservatives who harp “why not $150?” are just irritating - $15 is not an arbitrary number. If instead you said "why not $12 federal and higher in locales with high cost of living and index to inflation then you might get someone to listen to you.
Another thing - your concept of pure evil needs a lot of work. Most people who speak English reserve that word for Hitler or a terrorist who beheads people or something on that order. Don’t dilute it with using it in a healthcare discussion. You sound ridiculous which of course only matters if you actually want to convey a point which I really doubt.
Nationalized healthcare is a component of communism. Communism is pure evil. I’ll stand by my statement.
Also, you might find the $150 per hour question “irritating” but you didn’t answer it either.
Yes, I have heard of people like that also. It is not living- these are the people who keep spending and open new credit cards to use the money from them to pay on the other one. Not smart!
Well you seem like kind of a stupid Rethug asshole so…
And no, I don’t vote Republican. But at least I don’t support a policy that thinks that eliminating air travel is a rational and feasible idea. You’ve got an island in the Pacific Ocean! How is rational to spend trillions building trains across the entire country in order to eliminate airplanes. Only a clinically insane person would seriously support that idea.
Debating here will not solve problems. Why not focus on local and state situations as well? Plus attend town hall meetings. Debating and name calling change nada- I learned that as well.