The plastic mafia
Credit cards are stealing money from 110 million Americans. The Supreme Court decision of 1978—Marquette v. First of Omaha—gutted every state law regarding limits on credit card interest, known as usury laws. LendingTree says the average interest charged in July 2026 was 23.79%. Before this court decision, most state laws prohibited charging more than 10%.
How do these companies get away with it? Simple. They buy it. Their lobbyists paid 100 million dollars to Congress last year. The poorest get cheated the most: credit card users with the 5% rebate pay $95 for their groceries while the poor without cards pay $100.
Why do we pay more than other people?
The poor, minorities and those starting out are being hurt because they cannot qualify to use credit card money—only dollars. So tragically, fifty million Americans pay $100 for groceries while those using credit cards pay only $95. And, if you add the credit card cost that the retailer includes in the price as a cost of doing business, the total is an outrageous 10 percent.
In effect, the plastic mafia steals at least $1,500 a year from those least able to afford it. That is so illegal. So immoral. So unconstitutional. So unfair. It is a class action lawsuit begging to be uncaged.
Why does Washington allow it?
The answer is obvious. The plastic mafia owns Congress hook, line and page boy. The credit card companies admit to spending 100 million dollars a year lobbying Congress and can still report profits at 50 percent. The average profit of United States companies is 7 percent.
If you use your credit card to send money to your favorite politician, the plastic mafia can pocket as much as 30 percent of it. Our Constitution states that there will be only one money. If that is true, credit cards are unconstitutional and should be banned.
Computational trickery, recurring charges and swipe fees
If you don't pay the full amount due, you will be charged interest on the full amount, not just the remaining balance. Businesses hate the requirement that they must pay the plastic mafia 2% just to swipe your card.
Recurring charges are also irritating. Maybe you subscribed to Disney last year, but since then you haven't watched their channel or decided you didn't want it anymore. Good luck trying to cancel. Just try to find the unsubscribe button—or more likely, due to human nature, you won't be aggressive because it's only $9.58 a month, or you procrastinate: I'll cancel it later.
Article I and one money
Article I of the U.S. Constitution stipulates only one money. So what are credit cards? The industry has spent millions to get the Federal Reserve and others to redefine credit cards as not money: they are extended loans, promises to pay, not a final method of payment, a deferred transaction, or the issuer pays the merchant on your behalf.
Poor people are being harmed the most, but everyone suffers because, if credit cards didn't exist, the cost of living in the United States would decrease by as much as 5 percent. If nothing else, 10 percent interest should be the maximum allowed on credit cards.