Awhile back I stated both political party's are the same because they won't touch credit card interest.
Then Trump said that he wanted to limit it to 10% for a year.
That is a catch and kill of the idea of high interest rates on credit cards being usuary and hence should be outlawed.
Why?
Because a lot of banks offer credit cards that won't charge interest for a period of time after getting the card anyway! That is nothing new to them. The consumer runs up the balance and then when that time frame is up they are even more in debt with a high interest rate.
Why say just one year?
Now on the other side of the coin. If you are a bank and you hear that one year stipulation, You are likely to believe it is going to be continued afterwards and hence you don't like the idea?
But all in all who benefits from high interest rates charged to the United States citizen? Ask yourself what type of person that is? What type of person is born to believe that they own all the money! All that money is theirs? Someone born into madness.
© 2026 Thomas Paul Murphy
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