Credit Ratings (Credit Scores)

Low taxes on the wealthiest segment of society is the underlying cause of poor consumer credit.

Previously we demonstrated low tax rates on the wealthiest segment of society encourages hoarding among the wealthiest segment; this is accomplished by underpaying the workforce, and shifting long-term responsibilities onto that underpaid workforce.

A myth perpetuated by the consumer credit industry is:

Consumers are responsible for their credit.

We disagree. Consumer responsibility implies consumers with bad credit have done something wrong to deserve bad credit; that is not true. The causes of bad credit are often rooted in actions done by others that the affected consumer has no control over.

Bad employer practices are the foremost cause of bad credit. In fact, many employer behaviors are considered abusive behaviors when they occur within a marriage relationship; so why are these abusive practices permitted within the workplace?

The vast majority of employers are emotionally abusive; they abusively terminate employment often with little or no just cause. Employers lay employees off; and employers shut down facilities to move operations overseas. The vast majority of consumers do want to pay their bills; but changes in their employment prevent consumers from fulfilling their credit obligations.

Socialists advocate consumer credit to be more heavily weighted by employer behavior than just employee behavior. When an employee's credit is negatively impacted by abusive employment practices, the penalties should be charged to the employer, not the employee.