Collecting interest payments
What collecting interest means here?
Richest, their tax rate was far higher than what it is today. Now, wealthy Americans finance the federal government by lending it money, and collecting interest payments on those loans, profiting when the rest of us pay them back.
Top answer
Interest is the profit earned by "selling" money. You borrow $500 from the bank. They sell you that money for a profit, like any company sells products for a profit.
- Interest is the profit earned by "selling" money.
- You borrow $500 from the bank.
- They sell you that money for a profit, like any company sells products for a profit.
- " Sometimes, if people don't have the money to pay back on the amount of the loan, the principal, they are permitted to pay on the interest.
- It looks like the rich people are collecting the interest on the loans, rather than a portion of the loan along with the interest.
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Interest is the profit earned by "selling" money. You borrow $500 from the bank. They sell you that money for a profit, like any company sells products for a profit. We call that profit "interest." Sometimes, if people don't have the money to pay back on the amount of the loan, the principal, they are permitted to pay on the interest. It looks like the rich people are collecting the interest o
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