I don’t know much about Rashida Tlaib, other than the many, many accusations of being an anti-Semitic radical leftist (based on her anti-Semitic tweets – many of which have been deleted – I don’t disagree). However, what is becoming increasingly obvious is that she, like Alexandria Ocasio-Cortez and this new wave of politicians, have no idea what they are doing.
Case in point, this is Tlaib claiming that your credit score is unnecessary for purchasing a car.
Because someone's credit score has NOTHING to do with their driving. The car (and home) insurance industry should not be using credit scoring. This practice has targeted our residents for far too long. https://t.co/ykgIUnsiy5
— Rashida Tlaib (@RashidaTlaib) February 26, 2019
If we look far back into the annals of history, we find that there was a time in America’s distant past (a little over ten years or so) when people did not care if someone could pay for the things they wanted.
Like houses.
This was part of what led to a financial crisis that devastated America’s economy (and was exacerbated by the incoming Democratic administration, led by Barack Obama). See, you need to be able to pay for the things you want. Insurance is not a one-time payment. It is a repeated payment over the period of time that you have the insurance plan.
A credit score is used to measure a person’s ability to be able to maintain their payments for the insurance plan. We can argue all day about whether or not insurance is too expensive, what is causing those cost increases, and how we can stop it, but what we can’t do is deny that you need to be able to continue paying for it in order to have it.
So, getting a credit score makes sense for this. It is a way of guaranteeing that the insurance company will get paid for the services it is providing.
Not caring about whether or not people could pay for things causes industry and economic issues. Obamacare had to offer massive subsidies for expensive insurance plans that included services people didn’t need (and likely never would). These subsidies weren’t for the benefit of the insured – they were there as a payout to the insurance companies who were on board with Obamacare.
In reality, though, insurance doesn’t work like that. It is a service that provides you with reimbursement should something you own get destroyed or should you yourself get hurt or sick in any way. If you cannot pay for that service over a period of time, it does not benefit the company to provide the service.
You can say that’s not fair or it’s not right, but you can’t have something remain affordable if they are handing out cash to people who cannot actually pay for the things the cash is supposed to reimburse.
It’s not that difficult a concept to understand, but for Tlaib, it is apparently unjust.
And, let’s be honest here, in Tlaib’s perfect world, insurance is a basic human right that everyone should have (how it’s paid for is beyond her), a car is a basic human right (we all have to drive to work, which everyone is also entitled to), and even a house is a basic human right (gotta have somewhere safe to sleep in between work shifts).
So, credit scores should probably not exist. They fly in the face of the idea of entitlement.
Again, we can argue about fairness and the need for reforming how credit scores are determined and how they are applied, but to act like they don’t serve a purpose is to say you want another financial crisis. You want industries to collapse because they pay out more than they can take in.
It’s all part of the long game to make sure the government is responsible for providing these things so there is no need for private companies and credit scores. Long live the State, just at the expense of your wallet.
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