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What do you think?? Top rate of 10% ?

"What do I think? Well, let's take a peek at the path down which you propose to walk ....

The leftists would love your proposal, as it gives them another stepping off point in controlling the public.

First would come the law setting credit card rates at 10% (or even less if polling showed more votes could be had at a lower rate). Buried in the bill would be lots of additional things that laid the groundwork for future actions to gain more power over the public and it's purse.

Now, a new gov't agency would be needed to run this monitoring and control effort -- maybe it would be called "Fanniecard". This might be an appropriate name, since the ultimate goal is get to your wallet.

The new agency would need it's own (new, not existing) building (probably a whole complex of buildings), with full technology, and a grand plan to tie all the new agency into all the other existing agencies. Oh yea, and the new building, and associated landscaping, interior design, etc. will have to be done under the small, disadvantaged, minority, etc. contracting scenario. Think massive budget growth over time, kind of a "Big Dig" cost overrun scenario.

Then, the new agency has to have people, lots of people. Top gov't people only go up the ladder when they continue to grow and accumulate more and more people. Oh yes, and all this hiring will have to be under the affirmative action and Americans with disabilities act umbrellas.

Now, of course, everybody knows that gov't agencies never die, and instead, seek new ways to grow and expand. So, backed by the leftist government power-seekers, this new agency will want to become a Cabinet Level department, and then gain monitoring and control over other things. Also, it would be given a new name, something soothing sounding, maybe the "Department of Family Protection".

The government would pass one big "consolidating" bill, giving the new Department of Family Protection the authority to direct the private sector to reduce interest rates on all purchases, to, you know, protect the family.>p? And there you have it, the public is protected from "predatory practices" by the public sector!

Now, of course, once it's all cozy, and being handled by the all-seeing, all-knowing gov't, there will be a couple of small things that the public will have to deal with.

The leftists will decide that everyone is spending too much, and consequently, paying too much interest, regardless of what the interest level is. So.....

Credit card rates will become "progressive", (but of course, like now, only the "rich" will be targeted).

Many, many people, including illegals, will not be able to have credit cards, so the Gov't will issue them one, and all wage earners will have to pay more taxes to cover the needs of these "needy" people, since it's not their fault.

And, if the wage earners can't pay their new tax burden, the Dept of Family Protection will have the power to seize all assets (it will make the IRS look friendly), and if necessary, indenture the slackers who won't/can't pay their last dime to the gov't (remember all those additional things that laid the groundwork for future actions to gain more power over the public and it's purse, buried in the original bill?).

Of course, the leftists, who spend every second of their entire lives thinking up ways to use the gov't to gain power and control the lives of others, would be much more ingenious than I have been in identifying ways to remove every freedom from us, but maybe this will give you some ideas about just a little of what they would do with your proposal.

What do I think?

I think that you (and anyone else who thinks the gov't should be "solving our problems") need to go to the nearest mirror, look intently at the person you see there, and say "What in the hell!! was I thinking!."

to which I respond:

Roughman, I not only agree with him, I think his post is brilliant

Fanniecard indeed!!!

Ronald Reagon said it perfectly: "Government is the solution to our problems. Government IS the problem!"