McCain definitely opened the populist door.
Zero chance
And what happens after that one year? Do people rush out and max out their cards because at 10%, the minimum payment is so affordable, and a the end of that year, the interest readjusts to 30% or more? would it apply to existing balances and new purchases? I know that when a credit card company has a special rate, all payments go to the lowest interest rate first. So if they have a 0% on balance transfers, any payments go towards that balance and any purchases accrue interest at the going rate. So how would this work? Itâs another idea that hasnât been thought thru, like the fariffs.
I agree, the government should not tell private businesses what to do.
We have all sorts of regulations. This is no different if passed through Congress.
There are way too many regulations. Credit card companies are offering a service, if someone is willing to pay high interest they should be able to.
He got bad advice, he should have asked an Alaskan resident.
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The situation is similar to the medical services industry, the price is based on consumer (or patient) demand for the service, itâs why doctors make so much money.
In the case of credit the alternative might mean you lose your house, in the latter case you might lose your life.
Ironically I guessed heâd pick Palin. A really lucky guess. There was one other person I thought of, but I canât recall. We had no chance to win that election so I wouldnât blame her for the loss
I competed in the real estate business with a close friend of Palin, both were very good at effective public relations and advertising. Palin was getting a lot of favorable press at the time but she was the antithesis of a political Conservative.
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Indeed it is. It will solve absolutely no problems. Only slightly delay the consequences of chronic borrowing for a small number of people.
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Because it is a political ploy for the midterms
Not unlike the extra deduction for some seniors that expires in 2028.
I notice that this is a Republican tactic that they like to use a lotâŚpass a tax cut that will likely expire under a Democrat so that they can run in the next election saying âthey raised your taxesâ.
Of course it is.
Itâs all to address the hoax of affordability
Or âCovidâ subsidies that are expiring
If you needed any more proof that this is a bad idea.
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Does she realize he said âone yearâ? Iâm sure she wants to cap them forever. One has to wonder - are the GOP congressmen more afraid of Trump or the Banking lobby. If she says âforeverâ, will they vote against that?
I have a feeling it will not come up for a vote.