They support vaccine passports for COVID mRNA shots in order for people to receive certain social rewards such as going to school or attending a Major League Baseball game, just like the social credit score system in the People's Republic.
Now, Democrats and Congresswoman Maxine Waters, the chair of the House Financial Services Committee, want your FICO score to go full "Woke."
Wu wants the government to take over the credit scoring "Now," which in her magical utopia would include response "To public pressure" without putting "Profit-making as their top priority."
USA Today reports that Wu claimed changing the way scores are figured "Would be a major upgrade over today's broken, biased credit reporting system." Indeed, there are worthy reasons to change some aspects of the credit scoring system.
For far too long, our credit reporting system has kept people of color and low-income persons from access to capital to start a small business; access to mortgage loans to become homeowners; and access to credit to meet financial emergencies.
The Wall Street Journal reported in May that banks are planning to "Issue credit cards to people with no credit scores" as part of a government program.
If you don't think this could happen, read my piece on how the government-run Chinese social credit score works and ask yourself if this isn't exactly what would happen.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
Monday, July 12, 2021
Democrats Move to Take Over Your Credit Score and Go Full 'Woke'
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