Millions of Americans live with the possibility that, at any moment, their wages or the cash in their bank accounts could be seized over an old debt. It’s an easily ignored part of America’s financial system, in part due to a common attitude that people who don’t pay their debts deserve what’s coming to them. A…
Wow. I feel stupid because it still amazes me to hear about yet another industry making billions off the most vulnerable.
When old Ronzo Raygun popularized the principle of making money off of absolutely anything — ripping off little savings and loans, prisoners, justice, students, whatever, the money’s all green! — I knew then it was a bad idea but I had no idea just how bad. And we haven’t hit bottom yet. Way too many people still think it’s the way to go.
Ours is a Capitalist economic system that follows Capitalist dogma.
It’s called private enterprise or free market economics.
Until we dramatically alter our economic system these arcane, draconian rules will remain in place.
And we will all (the 99%) continue to be indentured servants.
One small correction; people who don’t pay their debts deserve what’s coming to them, except those that actually can afford to pay, they deserve more . . . more of everything.