Hey biscuit
You forgot the butter.
Ok, time and place Mr biscuit?
You can call me Pooh bear. It’s gonna be honey butter.
Strange how every time somebody takes an idea Republicans spouted that would actually help people, and decide to run with it, conservatives suddenly aren’t so keen on the idea anymore.
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.
What about this makes you think they aren’t?
Because he’s a compulsive liar and a Republican.
Even 10% is absolutely insane, especially with the ability to directly syphon their income.
Say goodbye to rewards cards if this happens.
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.
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
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.
Goodbye. Now give me 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.
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%!
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’m thinking they want to put discharging debt on the chopping block.
I’d consider taking one beating vs 25% interest forever.
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?
What that would actually mean is a complete lock-out on credit cards for the poor.
Doubt.
I don’t see that as a real problem. Because as it is now, credit cards are something poor people should avoid at all costs.
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.
Oh God, who will the Credit Card companies exploit?!
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
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.
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.
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.
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.
Trump lied, he serves the rich bankers
It doesn’t matter if he lied. Whenever he accidentally says the correct thing, he needs to be praised. That’s how you get him to do stuff. Bernie has the right idea here. Pat this dumb motherfucker on the back and make him feel smart every time he has a broken-clock moment. That way he’ll follow through.
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
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 hope so, but they’ll just blame the Dems anyway and they core voters will just believe it.
The core voters are lost forever. Fuck them, don’t think about what they’re going to do.
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.
He absolutely still can, his voting bloc is full of low information voters that just want validation for the racist/misogynistic hate they feel
Watch him do it anyway.
I hope you are wrong
Imagine that, scooping up cold butter on a spatula and slapping it indiscriminately on your partner’s exposed butt.
( ͡° ͜ʖ ͡°)
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.
Room temperature butter is superior in both sound and splatter.
Agreed.
You don’t?
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.
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.
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?
Yes, we had a flat annual fee for use.
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.
They already make 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
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.
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…
The merchant is charged the fee, not you directly as the cardholder. It’s already figured into the price if they accept cards.
Bernie should run for president one of these days…
What good things that Trump did promise? I am surprised that he promised this even though we know that it won’t happen.
What good things that Trump did promise?
Flying cars.
I’m not joking.
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 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.
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.”
That’s what capitalists want, workers racing each other to the bottom.
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
Populists promise lots of good things; it’s just that most ring-wing populists tend to have their fingers crossed behind their back.
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.
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. 🤦🏻♂️
