Cortez takes on the Christian right - the Bible backs her campaign for a 15% interest rate cap

Daily Mail ^ | 5/17/19 | Katelyn Caralle

[greedo]

IRS charges 5% a month.

Understanding Penalties and Interest | Internal Revenue Service

Failure to file

• 5% of unpaid tax required to be reported
• Reduced by the “failure to pay” penalty amount for any month where both penalties apply
• Charged each month or part of a month the return is late, up to 5 months
• Applies for a full month, even if the return is filed less than 30 days late

[See also:  IRS Spent $11 Million On Guns, Ammo In The Past 10 Years]

[sparklite2]

claim that the absence of usury laws open up access to credit for more people.

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Of course it does. And the results resemble when, in essence, the feds force Fannie and Freddie May to give people mortgages they can’t repay.

As was said of blacks and Cadillacs in the seventies,
“We don’t have ‘em long, but we have ‘em first.”

[lightman]

Commended? Absolutely.

Many Old Testament scholars believe that this, and similar idealistic parts of the Torah were actually written during the Babylonian exile as an exercise of national catharsis...soul searching over “why did this happen to us?”.

In other words, seeing this national calamity as punishment for having failed to live up to admittedly very high standards.

[lepton]

What’s so wrong with a 10% interest rate cap?

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Hey, if we’re drawing from the Bible for this, cap it and the tax rate at 9%.

[mrsmith]

A 15% TAX is supported by the Bible.
AOC, and her co-travellers, would never support that LOL!

[mrsmith]

What an idiot.

The Bible advocates that debts should be re-paid in seven years, and that the gocernment should ‘guarantee’ a period of seven years.

[Elsie]

The Bible advocates that debts should be re-paid in seven years, and that the gocernment should ‘guarantee’ a period of seven years.

It also says to owe no man anything...

Romans 13:8

[Mrs. Don-o]

It's interesting to me,really, that you see some Torah commandments as (it seems) too idealistic to practice, when all of the Torah was rather challenging I think, and all of it was oriented to pleasing God, and doing justice.

The prohibition against usury persisted into Christianity. There was plenty of inveighing against usury by the Fathers of the Church, who saw it as being just as intrinsically evil as sodomy, and who didn't go mute on the question until about 1,100 years later.

The reasons for this eventual "muteness" I don't quite get --- although I can make a stab at an explanation if I have to. It has to do with the emergence of a different kind of economic system, a true entrepreneurial economy.

There's a lot I don't know! Your thoughts?

[bert]

Hmmm.... did not the roman Catholic Church prohibit all usury?

[Ultra Sonic 007]

This blog post covers the subject of usury vis-a-vis Catholicism quite thoroughly: https://zippycatholic.wordpress.com/2014/11/10/usury-faq-or-money-on-the-pill/

[Redwood71]

I agree with your inference, but she’s not talking about a free market. She’s talking about another effort to control and manipulate the people by use of a more personal product, credit cards. And a credit card is nothing more than a harder, storable, contract than paper. The public is going to get those one way or another. We are not going to stop people being stupid by limiting the amount of interest making it harder to do business for those that are responsible enough.

It’s not the card that is the problem any more than the gun shoots people by itself. Someone has to take the responsibility for determining if the person should have a card (gun). But not limit the bullets they can get if they want them if they can be responsible in their use and pay for them. Welcome to 1984 and the big brother utopia.

rwood

[yuleeyahoo]

Hey Sandy, if 10% is enough for God; it is more than enough for the Gubermint. :b

[Mrs. Don-o]

Thank you! I will read this with interest.

Uh oh. A pun. :o)