if i have an asset as collateral, i shoudln't fuckin NEED credit

*I'm presenting a deliberately flawed argument, typically espoused by Democrats, to prepare one for debating against these insane proposals*

but the entire system is propped up by the debt sector

thats what's hiding the currency inflation

you shouldnt need credit but if you dont have a good rating its hard for lenders to trust you can pay em back

it's the ONLY way they have been able to maintain liquidity

@Mersenne 4d chess move, you truly live up to your profile picture

I don't think you can refute the facts, mersenne

just make everything credit based

You said them yourself

dont live out side ur means

if you earn 1k a week dont spend 1200 a week

@Mentrex you don't comprehend

nah its a prob here

it's not that simple UNLESS you have savings

because you get PENALIZED if you just pay as you go

Ignoring that these socialistic proposals directly infringe on personal freedoms by punishing the successful, the implementation of a wealth tax would likely result in the exodus of major corporations, crippling the US economy and costing thousands of jobs.

no one is just goint to sit on 100k of cash for emergency

Not to mention simply stealing from the wealthy fails to correct the system that perpetuated the debt to being with.

@BabaBooey 😏

i dont know what thats like in us but in nz you can sort of do that but its harder to tick some thing up

they will instead lock everything they have free into an investement of asset

THEN when shit goes sideways, they have no liquidity

ah yeah

they inevitably get stuck between a rock and a hard place

can you not summon the tankie

selll the assets at a massive lose

i had savings but i brought a car with it

or bleed to death trying to catch up

i could of got a loan and kept my savings

you din't 'keep your savings'; because you can't earn any interest o n money you can spend at any time

i get 2.2 on it

it's a system of 'forced overleverage'

They will have no where to go once the world has been liberated

again, 'kept savings' makes no sense

@Big Krunkus - You've won my respect for best troll of the week. Well done.

and the retirement thing i have gets 5

xD

if you keep money in a savings acccount, you don't earn interest

you actually lose money

unless you commit it to an invesment