Starve or put $1k on a credit that will take 5k to eventually pay off?
A cynic would say the main reason Biden only did $600 in COVID relief is lots of the parties donors invest heavily in debt. It’s hard to beat 20% interest when you’re the one collecting it. There’s no greater investment opportunities, but the game is over if everyone has enough to live off of.
Even just them paying some of it down early drastically reduces their profits long term. If every American just geot another 1k and paid down credit cards, it could be billions of lost interest.
The article says there’s almost a trillion of it by now. It’s an absolutely mind boggling amount of money we’re talking about. Throwing a couple million to both parties is comparitively nothing to what they’re making.
I mean, what are people gonna do?
Starve or put $1k on a credit that will take 5k to eventually pay off?
A cynic would say the main reason Biden only did $600 in COVID relief is lots of the parties donors invest heavily in debt. It’s hard to beat 20% interest when you’re the one collecting it. There’s no greater investment opportunities, but the game is over if everyone has enough to live off of.
Even just them paying some of it down early drastically reduces their profits long term. If every American just geot another 1k and paid down credit cards, it could be billions of lost interest.
The article says there’s almost a trillion of it by now. It’s an absolutely mind boggling amount of money we’re talking about. Throwing a couple million to both parties is comparitively nothing to what they’re making.