A federal judge in Texas temporarily halted a plan by the Biden administration to lower late fees on credit cards to $8 that was slated to go into effect next week.
The temporary nationwide injunction imposed by Judge Mark Pittman in the Northern District of Texas is a win for the big banks and major credit card companies, which collect billions in revenue each year in late fees and were looking to stop the proposal from going into effect. It is also a win for the U.S. Chamber of Commerce, which led the lawsuit on behalf of the banks.
No real shock that a judge that was appointed by the TOFF would side with the banksters against people. You can bet heavily that the Supremes will see it the same way, especially since some of them are owned by billionaires.
Back when the IRA was a new program I managed to start one independently putting in the minimum. After a year or so my Employer offered one with a very small match. Since I had both at that time the IRS nailed me for declaring both off my taxes for two years. The penalties and interest was just in the hundreds but I had to pay or fight it. More pay loss for taking time off of work so I paid.
ReplyDeleteThey seem to be much more capable of going over a little guys returns in the thousands but with a Big Cheese Whiz who cheats by the millions they seem to really take their time. But us little people don't have much to fight back with. It's doubtful that will ever change.
That's the way it is. The TOFF and all of those other slime can afford the tax lawyers that charge four-figures per hour.
ReplyDeleteWe're all little people https://www.youtube.com/watch?v=p3d2VAm7TKE
ReplyDelete“Certainly the game is rigged. Don't let that stop you; if you don't bet you can't win.”
Improvise, adapt overcome