To build a long-term winning coalition, why haven't Democrats addressed three issues that would resonate with the voters they need to attract? We hear over and over that they're not connecting with the electorate. How about looking at issues that impact the lives of ordinary Americans: ATM fees, absurdly high credit card rates, baggage f…
To build a long-term winning coalition, why haven't Democrats addressed three issues that would resonate with the voters they need to attract? We hear over and over that they're not connecting with the electorate. How about looking at issues that impact the lives of ordinary Americans: ATM fees, absurdly high credit card rates, baggage fees on airlines.
After Dodd-Frank the banks were looking for any way possible means to boost revenues. ATM transactions cost pennies on the dollar and yet we're being gouged often at $3 or more per transaction. Imagine the support from working and middle class Americans if legislation were introduced to cap current rates at $1 per transaction. I'm quite confident the banks would still be making a profit: ATMs don't need vacations, sick time, retirement etc. Yes, the do need servicing from time to time.The GOP, would have to jump on board or look to be the party behind the wailing of the financial institutions. This is a no brainer, you're either for the people or the banks.
As for credit card interest rates, even when money market rates were under 1% there were companies charging more than 25% annually. Why not introduce legislation capping rates at 1.5% above long-term interest rates? I recall back in the early 90s when Dems tried to address the usury rates. The march of credit card executives to Capitol Hill came with their ever present sad story about how the rates needed to be high to offset bad card users, yet those who weren't scofflaws were left holding the bag as well. Democrats could put the GOP on the spot by pushing for rates that were much more reasonable than many of the current ones. If the GOP isn't on board (and they probably won't be, too much feeding at the money trough) then the public will see where they stand.
Finally, airline baggage fees were put in place when oil was north of $125/barrel. The airlines were bleeding red ink, but there was nothing in the law to remove the fees when oil dropped to say $80/barrel or less. The public continues to get soaked while the airlines earn record profits, much of it from unjustifiable baggage fees. Many of us travelers remember when you bought a ticket and you checked a bag, that's what the hold was for, not for revenue generation.
These are easy to understand issues that millions can relate to. They need to go after the GOP on relatable issues like these in order to win back former supporters, create new support, and build a long-term viable future for the party and the country.
To build a long-term winning coalition, why haven't Democrats addressed three issues that would resonate with the voters they need to attract? We hear over and over that they're not connecting with the electorate. How about looking at issues that impact the lives of ordinary Americans: ATM fees, absurdly high credit card rates, baggage fees on airlines.
After Dodd-Frank the banks were looking for any way possible means to boost revenues. ATM transactions cost pennies on the dollar and yet we're being gouged often at $3 or more per transaction. Imagine the support from working and middle class Americans if legislation were introduced to cap current rates at $1 per transaction. I'm quite confident the banks would still be making a profit: ATMs don't need vacations, sick time, retirement etc. Yes, the do need servicing from time to time.The GOP, would have to jump on board or look to be the party behind the wailing of the financial institutions. This is a no brainer, you're either for the people or the banks.
As for credit card interest rates, even when money market rates were under 1% there were companies charging more than 25% annually. Why not introduce legislation capping rates at 1.5% above long-term interest rates? I recall back in the early 90s when Dems tried to address the usury rates. The march of credit card executives to Capitol Hill came with their ever present sad story about how the rates needed to be high to offset bad card users, yet those who weren't scofflaws were left holding the bag as well. Democrats could put the GOP on the spot by pushing for rates that were much more reasonable than many of the current ones. If the GOP isn't on board (and they probably won't be, too much feeding at the money trough) then the public will see where they stand.
Finally, airline baggage fees were put in place when oil was north of $125/barrel. The airlines were bleeding red ink, but there was nothing in the law to remove the fees when oil dropped to say $80/barrel or less. The public continues to get soaked while the airlines earn record profits, much of it from unjustifiable baggage fees. Many of us travelers remember when you bought a ticket and you checked a bag, that's what the hold was for, not for revenue generation.
These are easy to understand issues that millions can relate to. They need to go after the GOP on relatable issues like these in order to win back former supporters, create new support, and build a long-term viable future for the party and the country.