$12 per month for a checking account? Some math: If you have $1,000 in the account, $12 is 1.2% of it—per month. Multiply by 12 months: people without much money are charged an annual rate of 14.4% for the bank to hold their money and process checks.https://twitter.com/laura_nelson/status/955504854880813056 …
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Is it really that odd? The bank stands to make back a lot more than $12/mo by retaining a “rich” client.
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Poor people are giving up a greater % of their income to fees and penalties than are rich people. It really is expensive to be poor.
End of conversation
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but no rich person leaves thousands in a bank account either, poor money management.
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Socialism prevails, once again — it’s consistently the system favored by the wealthy & powerful — for themselves. (Especially the political class — pensions, healthcare, vacations, 30hr work week...) Unbridled (unregulated) capitalism is what the rich want only for the poor.
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