Poor people in the US don't have credit cards. They don't even generally have bank accounts, but enough of them do that I ignored that fact for the sake of discussion.
No, this is wrong. The real tragedy is that poor people do have credit cards. The credit card system overwhelmingly favors those at the top -- people who automatically pay off their balances each month and enjoy 30-day interest free loans the rest of the time, versus people at the bottom who have a perpetual negative balance on their cards and who pay exorbitant interest rates that would be illegal in a civilized country.
Are you sure about this? I agree homeless people don't have credit cards, but I see the poorest people still have (multiple) credit cards. Maybe I'm not looking at the right places in the US?
No, this is wrong. The real tragedy is that poor people do have credit cards. The credit card system overwhelmingly favors those at the top -- people who automatically pay off their balances each month and enjoy 30-day interest free loans the rest of the time, versus people at the bottom who have a perpetual negative balance on their cards and who pay exorbitant interest rates that would be illegal in a civilized country.