turbofish
Gold Member
- Apr 19, 2021
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The lefts reaction [seems they are the ones who can't pay their bills on time] is we need to stop credit companies from making profits. They are all in favor of this.
The rights reaction is this will limit profits and the companies are just going to charge higher rates and make access to funds more difficult. Companies exist to make money. Biden wants to make sure that companies can't make money.
Personal background on this topic. I am in the finance business. OK, it is a used car business but when the CEO is asked what kind of business we are in, it is finance since we provide funding for our customers. A lot of funding. Our current income is over a billion dollars a year. We provide a product and earn money on providing funding for that product.
The way that I look at it is if you don't want a late fee, pay your bills on time.