This is CBSI on the world. I'm John Batchel. I welcome Veronique to Rie of the Mercatus Center

at George Mason University, writing her recent column creator's syndicate to demonstrate that fixing

the price of anything is not a solution. It might actually be a new villain. However, we're going to start simple.

I learned from Veronique's column that Bernie Sanders, the esteemed New England senator,

associated with Marxism and Leninism, and Alexander Ocasio-Cortez, a youthful and exuberant member of the House of Representatives

from New York City, have proposed capping the credit charge rate of major credit card.

Baranique, I hope I've set this up correctly.

What's wrong with capping the rate charged by a credit card when you don't pay all

your bill?

Good evening, too.

Good evening, John.

Well, first, I mean, the appeal of the credit card is precisely to be able to spend more

than what you have in your pocket, right?

And depending on the kind of

risks you represent, sometimes the rates can be pretty high, but it still beats not being able to

spend money that you don't actually have in your pocket. And the risk of capping it is that you're

going to make it impossible for people to actually do this.

And while, I mean, if you're paternalistic, you can say, well, maybe it's a good thing that people,

and people should have to pay only what they have in their pockets.

The problem is that there are a lot of small businesses that rely heavily on on credit cards to

actually function because because borrowing money would be having access to cash through

a back would be harder there's just like all sorts of reason and like with everything with

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