So you love capitalism, or the American version?

[randys1]

We know if you are poor or uneducated or have a bad credit history you will pay more for your car insurance or home insurance than someone else who isnt, for the same thing.

Insurance companies used to do red lining (they still do but are clever about it)

Redlining is the practice of, in the United States, denying, or charging more for, services such as banking, insurance, access to health care, or even supermarkets, or denying jobs to residents in particular, often racially determined, areas.

Since this is no longer legal, they do it in different ways, credit scores, education levels, etc.



It is but one example of how capitalism can be used to reward the wealthy and punish the poor and uneducated.

OK, so they do this, and based on many responses I had on this board just today, most Democrats have no problem with it, right?

I will assume that is the case as I was told this right here today on DU.

Lets stretch out a bit and look around at some other stuff.

So you will pay whatever a for profit company tells you to pay for basic essentials like fuel, electricity, water? (you cant survive with out them)

What if eventually you and your neighbors aren't able to pay enough to assure the continued service to your area, so you will what, die?

maybe...Some states have some protection with what is called the PUC, Public Utilities Commission, but what will become of them with a Rand Paul as president, for instance. I.E. someone who is convinced the less regulation and government we have the better?

Anybody?

Wow, this gets us into the both parties are the same discussion (not) and why we are so in love with capitalism.





BTW, before you tell me my ideas would mean loss of jobs...Nope, not one, well maybe the CEO and a couple high level executives in the insurance company or water company or electric company, otherwise you still can employ the same number of people if they are not for profit.


Personally I see no clash here with the fact that I am a Democrat. I suppose that could be an issue for some here. I actually hadnt thought of that until now.

Can you be a Democrat and want to "fundamentally transform" our system?


Obama thinks so. So do I.

[upaloopa]

1. Here is why I support you at least on the insurance

thing and maybe some others.
I have been everywhere from homeless to where I am doing pretty well now. My lousy credit meant I paid more for insurance and every other necessity that you need a loan for. I didn't cause accidents but they say my credit score means I am of lower character than someone else. Well today I have excellent credit. My character didn't change. I happen to have gotten a better job that paid more. My bad credit was because I was laid off. I always worked if I could but the jobs I got paid half of what I made when I signed up for the loans. No I was not more of a risk.
We really blame poor people for their plight. So we are ok with making them pay more because somehow being poor means you take more risks and have poor character.
Also I have an American Express Platinum card now. Someone said the pay cash and don't use credit. I pay cash too only all my purchases are paid in cash one time together each month. The difference is I get reward points. Is that fair that the guy who pays cash pays for my rewards? Probably not.
No I am the same person who was homeless in San Diego 30 years ago. Being poor is no sign you cause more harm to society it just means society gets to do more harm to you!

[dilby]

2. How do you feel about them giving discounts to older drivers or female drivers?

As an 18 year old male I was paying out my rear for car insurance it was 1994 and I was paying $225 a month for my car. 20 years later I was paying $60 a month for my car, never had an accident and only 3 tickets in 20 years. My girlfriend pays $45 a month for her car and it should be noted that I have a degree and she does not, I also have better credit but she is 10 years older and female so that is the real difference.

[randys1]

3. All the more reason to be not for profit...the profit model of anything, especially insurance

has built into the system discrimination.

When I went ballistic on the insurance issue is when I realized they were using credit scores.


You see they used to do redlining, they would say that if you lived in this neighborhood they either would not sell to you at all or if they did at a much higher rate.

Guess which neighborhoods had the highest rates...

Now, as we see more and more white people in poverty or close to it, red lining is no longer as efficient, so they use these other factors.

The reason you maximize profits by discriminating against someone is to make sure the CEO gets his $10 million bonus and the stock holders, most are wealthy, get their dividends.

The system is designed specifically to reward the rich and punish everyone else.

[dilby]

4. Do you really believe that an 18 year old male should pay the same rate as a 48 year old female?

That someone who has a proven track record should pay the same as a the person who statistically is way more likely to drive reckless and get in an accident?

The system is not designed to punish the poor, its designed to dissuade people in high risk categories from buying insurance from the company. If you are getting crazy rates, it's because the insurance company considers you high risk and they don't want you. They want a sea of low risk customers so they can maximize profits. They don't make money by charging you higher rates, they make money when they never have to pay out for a claim.