You’re discounting the people who have always lived within their means and so never took on debt.
No I’m not. Those people are unknown quantities, and so also suffer if credit scores go away, because bad borrowers are worse than first-time borrowers, so without credit scores, first-timers will be treated worse.
Only people who are bad credit risks ever come up with this take, lmao.
The sole function of credit scores is to benefit people who are reliably ‘good for it’ when they borrow money. Without them, everyone is treated as just as high a risk as the worst borrowers who are least likely to pay back their debts, and you gain no benefit from reliably paying back your debts. But with them, your good borrowing is kept track of, and good reputation means lenders trust you more to pay your debts back, so they’re willing to lend more, and they are willing to charge less interest.
Removing credit scores changes nothing for bad borrowers, and hurts good borrowers.
Yeah, this is just people not understanding how credit scores work, part #57294, lol
The only way to fight this is to raise the minimum wage to something that is livable for the average worker.
Then what do you do when only the Amazons and Walmarts of the world with the deepest pockets can afford that, and small business basically ceases to exist, as a result? People talk a lot about ‘if you can’t pay a livable wage you don’t deserve to be in business’, but the same people also complain about monopolies and lack of choice at the same time. How do you propose this be reconciled?
Also, no one’s ever going to be able to begin to enforce a “living wage”, even if they wanted to, until that wage is given a concrete definition–at the very least, a formula with variables to account for cost of living differences across the country. Until then, all this clamoring for a “living wage” is completely pointless.
The fact that a worker who barely makes ends meet pays 10-20 times the taxes Amazon pays is… Fascinating in a dark way.
That is absolutely not a fact, lmao.
That’s the majority of them, but ragebait articles aren’t written about them, so you have no idea who they are.
Don’t be so easily manipulated by media.