We already have a minimum wage to protect the working poor, and I would like to propose a maximum interest rate on consumer loans. The wealth gap in our country makes it clear that MOMENTUM plays a big role in our system. The rich get richer, and the poor get poorer; and interest rates on capital are the vehicle for that condition.
For financiers, if you can't justify the risk of loaning someone money for 25% interest or less, just don't make that loan. Critics will say that this will make it harder for people to get credit, but I believe that this would be a good thing. Anyone who borrows money at rates beyond that probably doesn't understand the ruinous impact it will have on their future.
Rather than limit positive momentum, this measure would lessen negative financial momentum.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
