Usury Laws bring them back and enforce them!

[WDIM]

All consumer debt should be limited to 6% interest. Loans should be based on simple interest not compounded based on time. Borrow $100 payback would be $106.00. $20,000 pay back $21,200.

We need Usury laws back on the books and they need to be aggressive.

The biggest thefts in this country are done with a pen.

[upaloopa]

1. Interest on consumer debt use to be a tax deduction

I doubt you will ever see one flat rate for everyone. But I think interest is too high for some people. Pay day loans are the worse kind of loans to get.
The problem is that we pay people so little that they need loans to cover expenses. If we brought back organized labor people would not need to borrow to pay everyday expenses.

[WDIM]

2. Ideally people should work and save to purchase items

Bringing back Usury laws would stop banksters from pushing consumer debt the way they do currently.

Some Credit Cards charge people 20-30 percent interest. They are robbing people blind.

I also agree labor needs to organize. We need to demand an end to debt slavery. Life should not be about working to pay other people for necessities. Working just to make other people rich. Meanwhile the worker ends up with nothing and is thrown out once they are no longer useful.