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Rewards cards should be illegal and basically are privately levied tax on the poor and a subsidy to the wealthy.
by empath-nirvana 3y ago
Rewards cards should be illegal and basically are privately levied tax on the poor and a subsidy to the wealthy.
- op00to 3y agoReturning merchandise should be illegal and allowing returns is basically a privately levied tax on those who make good purchase decisions and a subsidy to the impulse buyer.
- smallmancontrov 3y ago> privately levied tax on the poor and a subsidy to the wealthy That's 2/3s of capitalism. Hold enough MA and V -- directly or through just having enough net worth in an index -- and you'll start to see this as a feature, not a bug.
- realwitt 3y agoWhat's MA and V? Moving Average and Volatility? (genuinely don't know and unsuccessfully tried to google it)
- frogstomp19 3y agoMasterCard and Visa's stock ticker symbols
- agloe_dreams 3y agoBoy are you going to be shocked when Walmart, target, Amazon brag about the X% income increase when that happens and while prices continue to rise. Zero, zero companies will discount the sales price when the rewards cards are gone. There is a strong argument that discontinuing rewards cards actually helps the extremely wealthy by taking from the middle class and giving it to the Uber rich shareholders and big business owners.
- addandsubtract 3y agoThere's another side to this. By giving out rewards, wealthy people are given more on top. Things they otherwise would've paid for are now free to them. Whereas someone without those benefits has to pay for those things out of their own pocket.
- deleted 3y ago[deleted]
- BenjiWiebe 3y agoI see this sentiment sometimes, but I disagree. I have excellent credit score and several good rewards cards, despite never spending more than $10k/yr through them. I'd say someone making $10k/yr is dirt poor and yet they too can have a good rewards card.