We live in a world where it is more important that the wealthy receive their emotional validation in the form of profits than for people to survive. The pandemic has proven this statement true more than anything else. While people were shuttered indoors frantically wondering how to make ends meet, the elite were strategizing how to make money hand over fist from an already strapped populace. None of the elite were worried about whether they would meet their operating costs because many companies already have a failsafe: autopay. Gyms, streaming services, credit cards, and more have all switched to autopay. The only trouble is that as jobs become obsolete, this practice becomes more vampiric.
Many employers are patently aware that they are paying below the cost of living. They have access to the same statistics and the same reports, and are secretly thrilled about everyone being in debt because debt generally means desperation. In fact, for quite a long time, banks deliberately processed transactions out of order to collect overdraw fees to destroy the credit of the working class. After that extortion tactic was declared unethical, companies and employers switched to autopay, so that not only could accounts be overdrawn, but payments could bounce for vital services, such as banking and website domains. Only the wealthy can afford not to know when money will be leaving their accounts and avoid penalties.
Moreover, most people have immense difficulty acquiring or keeping money in an era of stinginess. Businesses have multiple ways to accept money, so everyone is forced to figure out how to pay when there are multiple payment methods but limited banking locations and a digital divide. To add insult to injury, we constantly have to prove who we are and what we are paying for, as if there are countless benefactors running around paying bills for strangers. Nothing stops autopay, including mergers and acqusitions, and the monopolistic corporations have revolving doors of thousands of employees. In other words, we have to prove ourselves for our money, but the people taking money from us do not.
Furthermore, people are working differently now that we have all seen that the problems of the world could be fixed. Instead of punishing ourselves for the hopes of a decently paid job with benefits, more people are looking at how to fund themselves without giving up the majority of our schedules. Gig working has become more reasonable regardless of age now the people can work from home and avoid abusive work environments. Therefore, having an automatic monthly deduction makes little sense because people have no control over client attraction and/or pay. Rather, people should be able to pay bills all at once during times of plenty and avoid extraction when things could be stagnant or an emergency could have arisen.
There are so many institutions that have failed to change with the times, but instead of being forced to evolve, we keep propping up their delusions that money can flow free forever. Autopay “worked” when more people had living wage jobs and the cost of living was manageable. Now, it serves as a punishment for failing to affirm the regression of Corporate America.