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There's two things that can be done here: 1) We could definitely use better education in this country. Kids should be taught in grade/high school how to handl

There's two things that can be done here: 1) We could definitely use better education in this country. Kids should be taught in grade/high school how to handle money, personal finance, etc. They used to have something called "home economics" when I was a kid, but it was only for girls and probably concentrated more on doing dishes or something. 2) We need to stop electing Democrats like Hillary Clinton and DWS who are big backers of the payday-loan industry, and enact legislation which severely clamps down on these practices. Interest rates over some decent number (say, 15%) simply shouldn't be allowed, as they're usurious. There's really no reason someone on UBI should ever need a large sum of money. They're not in danger of losing it: that's the whole point of UBI. What would they need a lot of money for, beyond what their monthly (or biweekly, or whatever) UBI check gives them? Maybe a deposit for rent, that's the only thing I can think of. There can probably be some kind of laws or programs set up to handle this kind of thing without letting payday-loan vulture exploit these people. If Democrats actually cared about poor people, they'd already be working on ways of helping them with things like this rather than taking "campaign contributions" from the payday-loan vultures.

chillacy 10y ago
> Kids should be taught in grade/high school how to handle money, personal finance, etc I think that's a pretty swell idea. > There's really no reason someone on UBI should ever need a large sum of money I don't think that's true. The problem is living paycheck to paycheck without savings. UBI adds steady income but if the recipient fails to save, then when large expenses come like bank overdraft fees, medical expenses, and general rainy day stuff, they'll have to take out loans or credit card debt. Which goes back to why education is so important.
- Grishnakh 10y ago
  I completely disagree. There is no good reason for these people to need large sums of money. >then when large expenses come like bank overdraft fees Simple: ban them. These should not be allowed, ever. If the bank is too stupid to prevent you from overdrafting using technical means, then they should eat the loss. The only reason overdrafting is possible, in this age where no one uses paper checks any more, is because banks can make money on usurious fees. Ban them. >medical expenses Not needed. We should have single payer healthcare. >and general rainy day stuff Like what? The UBI is the safety net. Maybe if their car breaks down or something. Still, the whole point of UBI is to be a safety net; if someone is such a mess they need to constantly take out loans to try to get to work, then maybe they shouldn't be working a regular job at all. Ban payday loans and let them learn how to live on the UBI. It's not like they're going to lose all their money and be on the street; that's the whole point of the thing.

chillacy 10y ago

> Kids should be taught in grade/high school how to handle money, personal finance, etc I think that's a pretty swell idea. > There's really no reason someone on UBI should ever need a large sum of money I don't think that's true. The problem is living paycheck to paycheck without savings. UBI adds steady income but if the recipient fails to save, then when large expenses come like bank overdraft fees, medical expenses, and general rainy day stuff, they'll have to take out loans or credit card debt. Which goes back to why education is so important.

Grishnakh 10y ago
I completely disagree. There is no good reason for these people to need large sums of money. >then when large expenses come like bank overdraft fees Simple: ban them. These should not be allowed, ever. If the bank is too stupid to prevent you from overdrafting using technical means, then they should eat the loss. The only reason overdrafting is possible, in this age where no one uses paper checks any more, is because banks can make money on usurious fees. Ban them. >medical expenses Not needed. We should have single payer healthcare. >and general rainy day stuff Like what? The UBI is the safety net. Maybe if their car breaks down or something. Still, the whole point of UBI is to be a safety net; if someone is such a mess they need to constantly take out loans to try to get to work, then maybe they shouldn't be working a regular job at all. Ban payday loans and let them learn how to live on the UBI. It's not like they're going to lose all their money and be on the street; that's the whole point of the thing.