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Plenty of people would just borrow against their BI stream, effectively blowing it all at once.
by seanc 10y ago
Plenty of people would just borrow against their BI stream, effectively blowing it all at once.
- kcorbitt 10y agoYeah I wanted to address this in my comment above but didn't want to get down in the weeds. There's a couple decent solutions to this problem. The liberal/socialist approach would be to make a contract garnishing future basic income illegal. The libertarian approach would be to make bankrupcy laws so frictionless that you could declare bankrupcy three times a week without breaking a sweat, causing payday loan companies to stop offering their services to the least financially responsible sector of the population. I think either of these solutions could be made to work in general. Certainly better than what we have right now.