Things that annoy you

[Sofia]

When turmeric is in the dark tin but pepper is in the orange tin.  Brand names, too.

[Sofia]

How come working class people have to pay about 300% interest on a 2 week payday loan but employers borrow all their employees wages for 2 weeks and don't pay us any interest at all?  The Bible says wages should be paid the day they are earned, not 2 weeks later or at the end of the month!  A company of 100 people who make $160/day potentially earns about $16,000 in interest on the employee wages each pay cycle.  If they split that among the employees whose money it actually is, each employee would come home with about $160 more per month.

And if the IRS would stop borrowing money all year interest free, then low income workers could bring home $20-50 more per month.  The IRS does not pay interest on the money workers lend it, just like employers don't pay interest on the money workers earn, but they borrow for up to 14 days (or a month) each cycle.  We have to pay interest on all loans, including short term ones, but employers and government pretty much don't have to pay interest on our money?

[wr250]

How come working class people have to pay about 300% interest on a 2 week payday loan but employers borrow all their employees wages for 2 weeks and don't pay us any interest at all?  The Bible says wages should be paid the day they are earned, not 2 weeks later or at the end of the month!  A company of 100 people who make $160/day potentially earns about $16,000 in interest on the employee wages each pay cycle.  If they split that among the employees whose money it actually is, each employee would come home with about $160 more per month.

And if the IRS would stop borrowing money all year interest free, then low income workers could bring home $20-50 more per month.  The IRS does not pay interest on the money workers lend it, just like employers don't pay interest on the money workers earn, but they borrow for up to 14 days (or a month) each cycle.  We have to pay interest on all loans, including short term ones, but employers and government pretty much don't have to pay interest on our money?

why should they?
i mean that in the sense that our govt cant follow its founding document why should it pay interest on money taken from our paychecks (although it charges interest if you are late paying them what they deem to be owed).

[26 horses]

How come working class people have to pay about 300% interest on a 2 week payday loan but employers borrow all their employees wages for 2 weeks and don't pay us any interest at all?  The Bible says wages should be paid the day they are earned, not 2 weeks later or at the end of the month!  A company of 100 people who make $160/day potentially earns about $16,000 in interest on the employee wages each pay cycle.  If they split that among the employees whose money it actually is, each employee would come home with about $160 more per month.

That money is better used to invest in the capitalization of the company and servicing whatever debt it has. Companies are not here to be exclusively employee owned pay day turn-styles. That's neo-socialism.

And if the IRS would stop borrowing money all year interest free, then low income workers could bring home $20-50 more per month.  The IRS does not pay interest on the money workers lend it, just like employers don't pay interest on the money workers earn, but they borrow for up to 14 days (or a month) each cycle.  We have to pay interest on all loans, including short term ones, but employers and government pretty much don't have to pay interest on our money?

You may not be aware but...the IRS is not a governmental entity, it is a PRIVATE company set up for the express enrichment of our Globalist Yuro-banksters, just like the Fed.

Now I AM ANNOYED!

[26 horses]

Also, THIS greatly annoys me:

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Even Heater didn't livestream her collapse with a damned "smart" phone...

[JUAN]

How come working class people have to pay about 300% interest on a 2 week payday loan

Because they’re stupid enough to take out a payday loan.

[Bart Ell]

Because they’re stupid enough to take out a payday loan.

And if they got paid daily then a payday loan would become a payhour loan and the dummies would still be using them.

[Bluejay]

Also, THIS greatly annoys me:

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Even Heater didn't livestream her collapse with a damned "smart" phone...

+1

[26 horses]

TY Bluejay, I karma'd you back.

[Sofia]

Because they’re stupid enough to take out a payday loan.

The interest (a fee, usually $15 per $100 borrowed) is only paid once.  Unlike a small purchase you buy on a credit card, where you pay the interest over & over again, unless you pay the balance in full.  A lot of Americans have credit card debt, which is actually more expensive than a payday loan fee.

And if they got paid daily then a payday loan would become a payhour loan and the dummies would still be using them.

That reminds me of first responders now resuscitating herion overdosers.  But don't they just OD again.  Is there recovery from herion?  If not, why in the world would anyone want to resuscitate such an addict.

[KSM]

The interest (a fee, usually $15 per $100 borrowed) is only paid once.  Unlike a small purchase you buy on a credit card, where you pay the interest over & over again, unless you pay the balance in full.  A lot of Americans have credit card debt, which is actually more expensive than a payday loan fee.

@Sofia Credit card debt deserves its own horrible thread. There are people I love who just don't understand the financial Mels hole of arrears they're hurling themselves into. Horrible thing is that someone can gift them the funds to clear all debt and start all over with a clean slate, but a year later...……….. well, you know

How many fkn times can you teach a man (or woman) to fish.  And no, I'm not talking about my wife.

[26 horses]

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Something that looks that good should not be made of cauliflower.

[Sofia]

@Sofia Credit card debt deserves its own horrible thread. There are people I love who just don't understand the financial Mels hole of arrears they're hurling themselves into. Horrible thing is that someone can gift them the funds to clear all debt and start all over with a clean slate, but a year later...……….. well, you know

How many fkn times can you teach a man (or woman) to fish.  And no, I'm not talking about my wife.

There isn't much point in having much credit if you actually can pay the bill off each month or even several times per year.  People who can do that just need a little credit for emergencies. 

For those who let the balance & interest add up, it is sad.  You can do interest-free transfers for a while, do bankruptcy, but other than that, pretty soon a lot of dollars go out the door every month just for interest.  I've never had a 24% interest rate & I have no idea how fast that racks up.  Seems like interest should be capped a lot lower than that.  Just my opinion.

[PB]

...  A company of 100 people who make $160/day potentially earns about $16,000 in interest on the employee wages each pay cycle.  If they split that among the employees whose money it actually is, each employee would come home with about $160 more per month...

Let's take one person from your example making the $160 per day, at 5% interest.

$160 x 5% = $8.00.  That's for a year.  Divided by 365 days, it's 2.2 cents a day.

So for each 14 day pay cycle the interest would be something like $2.31:

The 1st day is paid 14 days late, so 30.8c (14 days x 2.2c)
the 2nd day is paid 13 days late, so 28.6c (13 x 2.2c)
And so on down to 1 day late, 2.2c

There are 26 14 day pay periods in a year, so the lost interest is $60.06 for a year (26 x $2.31).  Then there'd be tax on the $60...

[PB]

... And if the IRS would stop borrowing money all year interest free, then low income workers could bring home $20-50 more per month.  The IRS does not pay interest on the money workers lend it...

Easy fix:  increase your exemptions until the correct (lower) amount of tax is withheld.

If you are talking about waiting a year for an earned income credit (''refund''), that was never money the person worked for and earned and was withheld for a year - it's free money from the taxpayers, paid once a year.  There shouldn't be ''interest'' on top of that.