Comments by "Da O" (@dao8805) on "MAGA WIN: Elon Musk And DOGE Plan To KILL The CFPB, A GREAT MOVE For Consumers! Robby Soave" video.

@naasking It IS the point because including medical debt has more far reaching effects than just determining a person's ability to repay debit. Insurance rates for home and auto are also affected by a person's credit score, so if a person is saddled with medical debt, which they did not choose to take on,, they are further penalized by having higher home and auto insurance and the inability to change jobs because of current and potential employers also look at credit scores.
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People are also failing to see how Musk has a major conflict of interest in abolishing CFPB. He wants to expand X into banking so of course he wants less government oversight in that area. Anyone thinking that he is looking out for consumers and taxpayers with this move is simply not looking at his deeper motivation.
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@miket7390 The lack of analytical thinking displayed in your response is astounding. Why should a person saddled with medical debt that they have no control over be penalized in the home or auto insurance markets? Why should they pay more for a lower level iof coverage just because they had the misfortune of being sick. Explain how having employer based health insurance that does not have sufficient coverage justifies an auto insurer adding a premium surcharge based on a credit score. While you're at it, explain how that person is supposed to get to work without the car you want them to sell if they live in a rural area with no public transportation. Do you have any idea what "better health coverage" costs outside of employer plans? Seriously, think this through before making an off-the-cuff response.
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@ My assertions are based on facts. For you to say that people choose medical debt is beyond absurd. People choose cancer? They choose Parkinson's and Multiple Sclerosis and paralysis? People choose to be born with congenital heart defects and more? How are people supposed to save enough to prepare for diseases beyond their control when it costs tens or even hundreds of thousands of dollars to treat them? How can anyone be expected to manage medical debt when there is no way to compare costs from one provider to another because costs are not disclosed up front? And clearly you have never had to battle an insurance company to cover the costs you PAID for them to cover and to do it while you are deathly ill. People in this country who have paid for high levels of health insurance suffer and die every day while contesting the decisions of these companies. Obviously your opinions are formed from a very narrow, cherry-picked view of reality and an even more limited level of empathy.
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@jamesmcd71 Lol, you obviously don't understand that Paypal NEEDS/depends on other financial intermediaries (banks) to facilitate transactions; it is NOT a bank itself. Musk wants to get around that with X, which is why he is dismantling CFPB :)
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@victorianmelody46 Well said.
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@RayGetardo The problem is that credit applications are not the only thing credit scores are used for. If a person has a lower credit score because of medical debt, they will also pay higher home and auto insurance rates and be penalized in the job market or lose a promotion because HR departments look at credit scores also. .
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People are also failing to see how Musk has a major conflict of interest in abolishing CFPB. He wants to expand X into banking so of course he wants less government oversight in that area. Anyone thinking that he is looking out for consumers and taxpayers with this move is simply not looking at his deeper motivation.
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@adam-k spot on comments. Thank you:)
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