Emma Berry

Posts Tagged ‘transfer of wealth’

When various posts are yammering on about special interests, they never mention Party as a special interest, but the fact is that BOTH the Democrat and the Republican parties represent the special interests of Wall Street.

This is not true of the progressive arm of the Democratic Party, however it is true of the current Clinton/Obama administration as well as all of the Republicans.  Most of these people are multimillionaires who vote to protect their own personal stock portfolios.

The Cinton/Obama Administration are corporate centrists and there is not enough daylight between them and a Republican to make any difference.  Only fools like Glenn Beck and those who believe his clap trap are dumb enough to not see this.

Even progressive Democrats who sign up under the party ticket are like those who sign up under the Republican ticket as well as those who are sponsored by right-wing multibillionaires who sponsor the Tea Party–all are signing up to represent rich special interests–not mainstream America.

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The Republicans and the Corporate Centrist Democrats BOTH stack the deck in favor of the rich.

IT’S OK WITH BOTH GROUPS IF THERE IS A TRANSFER OF WEALTH–AS LONG AS IT CONTINUES TO BE FROM THE POOR TO THE RICH.  BUT JUST LET ANYONE SUGGEST OTHERWISE AND LISTEN TO THESE GREEDY CREEPS SQUAWK.

Credit cards do more than drain money from your wallet — they may actually create an “implicit money transfer” from the poor to the rich, according to a new study from the Boston Federal Reserve.

The study, titled “Who Gains and Who Loses from Credit Card Payments? Theory and Calibrations”, suggests that, as card use becomes more frequent, merchants have raised their prices to compensate for card-processing charges. (Hat tip to the WSJ)

As a result, the study suggests, the poor — who usually lack access to reward-paying credit cards — end up paying more for everyday goods.