They're Republican Politicians, nobody ever said they'd be good with money or management of an entire state.

Having been a real estate agent, I know the importance of contracts, and my jaw dropped to the floor when I read this:

jsonline: Rent-to-own stores could encourage customers to sign agreements that

included blank spaces that would be filled in later, under a plan by Gov. Scott Walker coming before a key committee Thursday.

If this is anything, it’s a lesson for voters who put to much faith into completely unqualified elected officials. These guys couldn't do anything else, so they got into freeloading small government politics.

The following will make you gasp.

The provision is one of several in the Republican governor's 2013-'15 budget bill that would weaken consumer protections for those who shop at rent-to-own stores, such as potentially keeping spouses from learning of contracts they were liable for and preventing state regulators from shutting down stores that intentionally violated disclosure laws.

A liberal Democratic and conservative Republican lawmaker on opposite sides of the overall rent-to-own provision both criticized the blank spaces section in the bill Wednesday, suggesting it might be changed.

"Oh my God, that is a horrendously bad idea," said Rep. Jon Richards (D-Milwaukee), a member of the Legislature's budget committee. "You're asking people to sign a blank check."

Currently, state law requires that a statement appear on rent-to-own contracts and other credit agreements that says, "Do not sign this before you read the writing on the reverse side, even if otherwise advised. Do not sign this if it contains any blank spaces. You are entitled to an exact copy of any agreement you sign." That requirement would go away under Walker's proposal, according to a detailed analysis by the nonpartisan Legislative Fiscal Bureau.

Consumers can wind up paying as much as 500% more than what they would if they bought the products outright with cash, according to the state Department of Financial Institutions.

Republicans come to the Rescue over Republican plan to Rob the Poor in Rent-to-Own Scheme.

It’s now become painfully obvious Gov. Scott Walker is a sociopath. His droopy eyed calmness isn't due to a bad case of misplaced confidence, it’s a symptom of a callous disregard for others…preachers son or not.

That never became clearer, if you don’t count the million plus protesters Walker ignored, than his rent-to-own proposal. It’s important to look at his original plan and his original intent when judging Walker’s competence. With this one issue, the air has been cleared:

jsonline: Rent-to-own stores would be able to sell customers high-cost financing plans for televisions, appliances and other goods without disclosing their interest rates … In addition to exempting the industry from state consumer protection laws, the measure would cap how much wronged customers could get if they sued rent-to-own stores. The stores typically sell products under plans that cost buyers two or three times prices they would pay elsewhere.

No one would think that’s a good idea, except Scott Walker. Even misogynist hillbilly Sen. Glenn Grothman knows a bad deal when he sees one:

Sen. Glenn Grothman … said at the news conference the rent-to-own plan was harmful to the poor and would amount to "bleeding millions of dollars each year from our most vulnerable citizens. During this economic downturn to further punish the economically illiterate is scandalous," he said in an interview.

It’s comforting to know that the poor, or as Grothman calls them “economically illiterate,” have his support.

Rent-to-own stores could not charge more than twice as much under their rental agreements as what they charge customers to buy products outright, under the budget proposal. Consumer advocates say that offers no protection because the stores set their shelf prices much higher than other retailers. The law change would also limit how much customers could get in damages from stores that violated the law. "What you're paying for is embedded value," Rent-A-Center spokesman Xavier Dominicis said. "This is a transaction that is very unique. It's deserving of its own regulatory framework. . . . 

You’ll notice only Republican responses are worthy enough to pursue and quote, since as the myth goes, they’re “fiscally conservative.” These are the same great watch dogs of taxpayer money now borrowing and mismanaging the state's economy due to their “no tax” pledge straight jacket. Their unfiltered criticisms, and not the wishy-washy Democratic statements, are probably more entertaining to print:

"Rent-to-own is a pig," said Senate President Mike Ellis (R-Neenah). "It is legal thievery. . . . They are nothing more than usury. It's like the old Al Capone movie."

"I think that whole industry is preying on poor people, absolutely, and we need not facilitate that," said Sen. Rob Cowles (R-Allouez).

The Wisconsin Public Interest Group found rent-to-own stores there on average charged customers an effective annual interest rate of 221%. The rates ranged from 138% to 370%, its survey found. For instance, area rent-to-own stores charged $936 on average for a 32-inch television set that cost $333 on average elsewhere, the report said.

Again, not one Democrat was interviewed for this article. 

Unregulated Rent-to-Own rip-off businesses get Republican Thumbs Up in Assembly.

After mischaracterizing the Great Recession as something caused by those greedy poor home purchasers who should have known better, Republicans oddly are quick to lead the poor back into a similar scam that they won’t be able to get out of.

If fact, this legislation encourages defaults and crushing debt. You won’t believe this one:

WSJ: The Assembly has passed a bill aimed at boosting the "rent-to-own" industry in Wisconsin. The bill, sponsored by Rep. Warren Petryk, R-Eleva, would exempt rental-purchase companies and rental-purchase agreements from the scope of the consumer act. And under the legislation, the rental-purchase company would not disclose any percentage rate calculation, including an annual percentage rate.

Just how great a business model is that? Only the most clueless idiot would allow something so reckless and irresponsible to open for business in Wisconsin.

Rep. Gordon Hintz, D-Oshkosh, said the obvious…it would allow predatory corporations to prey on the poor.

"The idea that this is a jobs bill — really?" Hintz said. "Only in America do we come up with ways for people to buy things with money they don't have."

These rent-to-own scam companies have set the Walker "open for business" bar pretty low. Kind of makes you wonder just how bad the mining bill was.  

Instead, retailers would have to tell the buyer the total cost of purchasing an item through a rent-to-own agreement, and the difference between that price and the cash price. However, the Senate did not take up the measure, meaning it won't become law.