Monthly Archives: July 2010

Don’t use a credit card? You could be funding the wealthy.

There is so much debate today over the disparity of wealth. Roughly 1% of the population holds 20% of nation’s wealth and 20% of the top wealthy own 80% of nation’s wealth, leaving only 20 percent of the wealth for the rest of the 80% of the population. Confused? That’s their plan.

But an interesting report emerged saying that using credit cards actually supports the wealthy. No, banks aren’t just giving money to the rich…That would be wealthy welfare. No this is happening at retailers where you shop every day.

Retailers must pay credit card fees to the bank. Instead of taking the loss, retailers jack up prices to incur credit card fees. So as per the article, if you pay with cash you are helping to pay credit card fees. So even if you want to avoid credit cards you are paying for other people to use them. 

How does this benefit the rich? Well the statistics show the wealthy spend more on credit cards and more often. They use their cards to receive rewards and that’s right – cash back (what you work so hard to earn)

 So next time you’re shopping toss in a few coins for the rich and not needy to support wealthy welfare. They of course are nothing without us measly peasants.

The Price of Freedom

It is a popular sentiment today to believe in free enterprise. Why the heck wouldn’t it be free, it has free description. It is “free” enterprise.  Many find it a great idea to have everything in our life be privatized. One for instance is health insurance. This is how awesome free enterprise and privatization works for the average citizen in regards to health insurance.

My doctor scheduled some pre-emptive tests for me. Today, I received a notice from the hospital that my insurance company has yet to pay for the service. If I were to not pay the hospital, they would call a debt collector and keep nagging me until I pay. To a big corporation like Blue Cross and Blue Shield this is just good business practices. Bi-weekly money is taken out of my paycheck for health insurance, yet they decided when and if they are going to pay my insurance. Somehow I do not see that as a fair exchange, but that’s the beauty of “free” enterprise.

But it doesn’t stop there, banks play high stakes gambling games with our 401K, corporations have off shore accounts so not to pay taxes, they make inferior automobiles that kill people, they have taken short cuts in food safety that is making the public sick and they have destroyed our Gulf coast. All this is done so in the name of “free” enterprise and privatization. They are self-regulated and above most laws.

I make these complaints to everyone – family and friends. And their answers are always the same, “It is the way it is. Deal with it.” Have we succumbed to the powers of the corporations? Are we going to roll over and allow them to play with our finances and health? Is this something we should really deal with?

So we may all say “free” enterprise is great, but at what cost to us – our health, our financial security, our environment? That to me is not freedom. Although I may live in a free country, I am far from free. It is the corporations gambling with my livelihood that is taking away my freedom.