Wrong wrong wrong it's not theft it is default. Most of the time these people intended to repay but later cannot.

Default is a natural risk of lending. It's why lenders charge a huge interest rate especially for unsecured debt.
When did credit cards morph from unsecured debt to debt secured by every penny you will ever make in the future?

Why are you cheering the morphing of our government into the debt collection agency of big business?
If this trend continues all credit card companies need to do is make it just a little bit harder for people to file for bankruptcy and then give collage students tons of 0% interest credit cards.

 "Don't worry about that credit card debt college kid it's a great deal at 0%. We wont even require you to make payments until you are done with collage and get a job. What you missed your first payment sorry that 50k now has an interest rate of 26%. We get to take 25% of all your earnings forever. What you did not know what you were doing when you signed up for this at age 18? Sorry that's you problem after all not paying your debt is theft."

Is this the future you want a society of slaves? I know we are well on our way already but to cheer it on and is nauseating. Default is a natural risk of lending. Cheering for wage garnishments is cheering for corporate bailouts and big government.