It is distressing to longtime law-abiding, bill-paying citizens to keep seeing those television presentations indicating how easy it might be to beat the government or some credit company out of a lot of money.
Picture that middle-aged man with a smug look who notes that he was in debt to the Internal Revenue Service for $150,000. But, then, glory be, he contacted the agency that is sponsoring the commercial and got his debt sliced, in a hurry, to less than $50,000. Who is making up for that amount? Could it be the rest of the citizenry that has been meeting its obligations without some under-the-table operator adjusting things?
There are other TV spots about taxpayers who owe $50,000 or so getting home scot-free because they turned to the service that is being huckstered.
Somewhere along the line, it would seem, these people who have been spared so much of their own money probably ran up the bills they are assessed with, by not paying all the taxes they owe and then trying to find some loophole to lighten the load. Take $50,000 or so out of the U.S. Treasury and it only means the rest of us have to ante up to make up the difference so the government can meet its expenses.
Credit agencies, also, are good at trying to make the public believe that they can get a huge card debt greatly reduced or even eliminated by dealing with their agents. In the recent down surge, some credit card firms have allowed such activity and then sold the rights to the outstanding bills to companies that specialize in such. Somehow all this smacks of one of the major reasons we are in our current financial mess: Issuing loans, such as for housing, to people who are not really eligible and then hoping someone else picks up the pieces when foreclosures occur.
After credit companies are able to peddle their bad-performing accounts, they have to make up the difference some way, such as through higher interest rates that affect everyone, sadly even those who pay their bills on time and who have good credit standing.
And all this is done with “someone else’s money,” as analysts keep insisting. People who have access to the money of others find it so easy to spend or dispense of it to their advantage.
This all sounds frighteningly like our governmental agencies, right? People who get their hands on tax funds seldom treat them as if they were coming out of their accounts, as they should if they are effective and honorable. Instead, they see large numbers of dollars to be be expended with ease and for convenience and spend them as if they are going out of style — which the American dollar has been doing too much of lately.
It seems safe to assume that these television commercials crowing about how to wipe out debt through a given agency are legal. But ethical? They are all dealing with amounts that solid citizens have provided — someone else’s money. Guess who winds up making it possible to wipe out such debts.
Comments
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JackRipper (anonymous) says…
one could make an argument it is time to get rid of commercial tv in general. how many bad ideas have been huckstered over the years by cheaply appealing to the lowest common denominator? how did America become so stupid? could it be watching hours of tv with sophisticated propaganda in the form of commercials?
Keith (anonymous) says…
The editor believes TV commercials?
merrill (anonymous) says…
Who makes up for all of the tax breaks that are given to corp america and other wealthy?
The middle class
Whose money is it that local governing officials spend so recklessly on real estate property?
Whose money is it that USD 497 spends so recklessly on expensive sports fields?
Whose money is it that is spent so recklessly in the name of bio science?
denak (anonymous) says…
I think this editorial would have better served the populace had the writer told the readership just how many times these credit counseling services do not deliver. Many of these services are scams and do not promise what they advertise. People can actually get more in debt by going to some of these companies because they demand to be paid up front and the first three or four payments one makes is actually their fee so for at least the first few payments the individual is actually still in debt to the companies they owe money to and are racking up more interest and late fees.People usually do not find this out until they start getting calls again from their creditors.
Secondly, for all of those people who say they only had to pay half or less of their debt, what they are really saying is that the company (the legitimate ones) worked with the credit company to eliminate the interest and late fees. The person still has to pay the original balance. Sometimes, if a person is far enough behind, the company will except a lump sum payment but still, that is at least a third of what they owe.
What the editorial should have advised is for people to check any credit counseling company out with the Better Business Bureau before hand, check to make sure the first few payments are going to your creditors and to remember that if it sounds to good to be true, it probably is.
Dena
P.S. Also, any company that makes the claim that you don't have to pay taxes and that it is legal not to, is a scam. You have to pay your taxes no matter if you think it is Constitutional or not.
parrothead8 (anonymous) says…
I'm only commenting because the headline made me want to yell:
Run's Money!