Forum Post: Compound Interest
Posted 12 years ago on Oct. 24, 2011, 5:27 p.m. EST by waitingstill
(1)
This content is user submitted and not an official statement
The practice of compounding interest is a cornerstone of class warfare. Ban it today
The solution to anti-democratic concentrations of capital amassed by the workings of compound interest is progressive taxation.
http://michael-hudson.com/2011/01/why-america-had-a-90-income-tax/
This kind of comment is just ignorant. Is it a troll posting?
Is compounding interest good or bad? The answer to this question depends on who is paying it.
Compound interest is just a math principal. And what exactly is wrong with compound interest?
Yes interest practices are abusive and considering former restrictions and definitions ( usury ) illegal. Just try to get some sort of enforcement going on laws that are already on the books would be a good start. But the justice system seems to be truly blind as well as def & dumb.
? Please elaborate.
Its an immoral scheme to concentrate wealth upward.
I don't understand. So long as interest exists and time exists, the phenomena of compound interest will exist. It's basically more of a mathematical reality than a political position.
Basically, we can do no more to end compound interest than we can end gravity for holding us down.
I suggest you focus more on things like usury.
So punish people that don't blow all of their cash on pot and lottery tickets. You idiots are lucky there are people like us around. If nothing else but to save you from yourselves. Please don't have children. You define idiocracy.