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It is important, as it shows the "catch up" is hiding an essentially breakeven operation, so once finished, they are financially stable as is.
A fair point to make.
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I do not however want them adding banking functions, as I want them staying in their niche.
I would prefer the banks understand that the people they are tossing aside are the same people that were forced to keep them afloat but the problem needs addressed. Only Bernie is doing that.
I would prefer the banks understand that the people they are tossing aside are the same people that were forced to keep them afloat but the problem needs addressed. Only Bernie is doing that.
Bernie proposes to screw (tax) everyone with a pension plan or retirement account. Not acceptable. Period.
You've been straightened out over this many times by many here.
Wrong. American workers and retirees have $25 Trillion invested in their pension plans and retirement accounts. That's more than the entire U.S. GDP. THAT'S who Bernie proposes to tax: Main Street America.
I would prefer the banks understand that the people they are tossing aside are the same people that were forced to keep them afloat but the problem needs addressed. Only Bernie is doing that.
That would not be low income folks using payday loans, as their Federal Income Tax rate is, most often, 0%-well <5%. We're now at about a $10K standard deduction/exemption level per filer. So a 40 hour per week MW earner pays, at most, a few hundred annually, in Federal Income Taxes.
That would not be low income folks using payday loans, as their Federal Income Tax rate is, most often, 0%-well <5%. We're now at about a $10K standard deduction/exemption level per filer. So a 40 hour per week MW earner pays, at most, a few hundred annually, in Federal Income Taxes.
Low income people pay what the Fed did in more ways than just taxes. Time goes by fast but it wasn't that long ago $10 an hour was a pretty darn good wage.
Low income people pay what the Fed did in more ways than just taxes. Time goes by fast but it wasn't that long ago $10 an hour was a pretty darn good wage.
Income Taxes are the sole means anyone paid towards the bailout, though, and the poor hardly pay any F.I.T.
Looking at what Chase and Citibank are offering and what they charge, they're just not interested in the humdrum business of retail banking. A free checking account is considered a privilege you have to qualify for. The real competitors would be the payday loan/check cashing business, and seeing them go away would make the world a better place.
They do charge fees. Percentage or fixed, but they're not doing anything for the joy of dealing with it.
It's not as if it's unprecedented - European countries have had their post office do simple retail banking for centuries. It works. Of course, these days, most Europeans would have to think long and hard to remember about this "check" thing that sorta died out in the mid-90s.
Most banks charge a few dollars per month ($6-12) for a checking account that will include a debit card.
Typically, this fee can be waived with direct deposits totaling about $500/mo or by maintaining a minimum balance.
How much are we going to spend to rework our technologically obsolete post offices if the only purpose of doing so is to save the working poor $6-12/month?
Clearly this is an extravagant and expensive plan to mediate the effects of declining wages caused by free trade with third-world nations and effectively open borders.
Wouldn`t a better plan be to repeal NAFTA and the China Trade Act, deport illegal workers and slam the door on H1-B visas and legal immigration so wages that have declined over the past decade can recover?
If we were all making the sort of money we were when Bush was president (median family income peaked in most states in the early 2000s), perhaps 50% more, the need for free checking accounts at a newly remolded dinosaur government office would then be an easily avoidable new expense.
Income Taxes are the sole means anyone paid towards the bailout, though, and the poor hardly pay any F.I.T.
No it isn't. Q.E. was also a bailout. It was used to help the banks partially pay back the bailout funds. In one pocket and out the other. The zero interest rates many elderly received also hurt them a lot.
No it isn't. Q.E. was also a bailout. It was used to help the banks partially pay back the bailout funds. In one pocket and out the other. The zero interest rates many elderly received also hurt them a lot.
All in the interest of propping up Wall Street.
Not even close to the $2 Trillion in QE used to bail out Fannie and Freddie.
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