Loading ...This Week In Credit Card News: Trump Proposes Short Term Cap On Credit Card Interest Rates – FORBES
Donald Trump made headlines Wednesday night, promising a crowd in New York he would, if restored to the White House, put a “temporary cap on credit card interest rates … at around 10%,” if he were elected. Doing so would require Congress to pass legislation, a move lawmakers on both sides of the aisle have proposed in recent years.
https://x.com/BehizyTweets/status/1836565850687406158?
At current credit card interest charges of ~25%, this alone should get him elected! Happened on Wednesday night and now it’s Saturday night — did YOU see this covered by MSM?
Nope
MSM is the sewer in the Swamp
Agree with Fully.
Price Caps = Price Controls.
Same concept they are skewering KamLoopy over.
I will say this, it would dramatically curtail credit card issuance and borrowing, as lenders would pull out.
The other solution — tax interest payments and eliminate taxes on interest income (the opposite of what we do now). You want more debt, subsidize it.
You want less, tax it.