Established Contributor
Posts: 538
Registered: ‎05-16-2012
Re: Government Involvement: Good or Bad?
[ Edited ]

youngandcreditwrthy wrote:
Jeez, you all need to calm down with your "anti-government" attitudes. I'm sorry, but the roads you drive on... the schools your kids go to... the hospitals you need.. all funded and helped by YOUR gov't. Anyone remember what it's like to be a broke college student? ( I am now!) Furthermore, banking regulation is needed in this country (anyone remember the financial crisis that recently occured?) Idk if anyone else here has had a fraud account on their report, but I have, and let me tell you... it's a pain in the a** to get it off bc as soon as you do.. the current collection Company always sells it EVEN though it's a fraud account. I got the same email from Quizzle, and I'm glad the CFPB is trying to rein in erroneous credit reporting. anyone remember that stat about 60% of all credit reports have inaccuracies? LOL Best wishes :-)


youngandcreditwrthy wrote:

LOL you're saying inaccuracies cause low interest rates?


okay.. but the taxpayer IS the gov't..

idk if you know this or not, but


in a democracy.... "we the people..." control the gov't...




all of my balances are at 0% interest.


I suppose there is just a difference in ideology, but the consumers are winning on this one... just sayin'


*insert quote from Elizabeth Warren here*


Hate to be so political, but I assume some to believe that "tax breaks cure all" as well?



AGAIN, refer to financial crises in the past... TYPICALLY due to LOW regulation and TOOO lax of credit.



 1. Banking meltdown was thanks to government forcing banks to give out loans to people who were extreme credit risks, simply because they were considered to be oppressed based on demographics and location without proving they could pay back the loan, or have the means to pay back the loan. Ever heard of the Community Reinvestment Act created by Jimmy Carter and pushed by Bill Clinton, freddy mac, fannie mae, acorn? look it up... You're just helping me make my point...


2. Roads are funded by the "evil rich people with no empathy" who make up the 53% of taxpayers (yes 47% of Americans don't pay taxes, a refund is not government giving you free money, it's the government REFUNDING you your tax overpayments) for the purpose of creating infrastructure.


3. we are not a democracy, we are a representative republic, California state gov't is run as a direct democracy, and look what that's gotten us (yes I'm a CA citizen)


4. I will reiterate my point, the consumers are not winning on this one, as with the "banking failure" the government will step in and force creditors to give credit to people who otherwise can't support it, just as with student loans, just as with the housing bubble of the 2000s. This will create inflation as more people get credit (who wouldn't otherwise have it) as people who are bad credit risks max out their credit cards with purchases, falsley pushing up the GDP. Then a few more years down the road, as with the mortgage crisis, people won't be able to pay their credit cards again, everyone will default, and the banks will be blamed.


Remember, you are NOT ENTITLED TO CREDIT or property purchased using credit, and It's really not a crazy idea that you let the BANKS WHO ARE LENDING THE MONEY make the rules on who should get credit. The point of the credit reporting system is, as MANY people on this forum do, to force you to learn how to control your finances, control yourself when it comes to financial spending and credit, and then when you are able to handle it, open you up to more credit opportunities.



youngandcreditwrthy wrote:

Lol... You mean wait until Im old and rich and have no empathy for others? Not gonna happen. LOL. Although, I'm totally success driven :-)
Either way
, freedom of speech rocks as evidenced by
this convo ahhaah!

I trust my friends btw!! :-)

just to add one more thing, empathy is the ability to recognize and understand someone's plight. Just because you have empathy for someone, doesn't mean your actions will help them. A "rich" person who doesn't give away free stuff to others less fortunate doesn't mean they don't empathize. Creating a job that a non "rich" person would get helps that person, as does purchasing a yacht. Ever count how many employees are created by the purchase of a single yacht by a rich person? From the service industry, to the parts industry, to the people who mine for the materials for the parts, the people who build the road to ship the parts, the people who work the docks, the people who clean the boat? 


How about the other side, the person who drives up to someone holding a sign on the freeway offramp, and hands them $10. I'm sure that person emphatizes as well, but the person holding the sign takes that $10, and buys a hit of meth and spends the night high instead of taking care of their kid. Whose actions are better, the peson who provides the homeless person opportunity to take control of their lives and make something for themselves, or the person who enables the homeless person's bad behaviour?



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