Treating the symptom won't fix the problem. The middle class could help itself by refusing to finance consumption with debt. The middle class could just quit

Treating the symptom won't fix the problem. The middle class could help itself by refusing to finance consumption with debt. The middle class could just quit taking on debt at 15%. And before you say that they have to just to survive, no, the definition of middle class is people who actually have enough money to live on. What would help the middle class is getting them to learn some basic financial sense. That said, I do think that credit card interest rates are unconscionable and should be capped much lower. As it is, credit card debt is financial slavery and people should treat it like crack cocaine--just say no.