nah what would happen is payday lending style companies would give a one time ca... | Hacker News

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		achenatx on July 30, 2020 \| parent \| context \| favorite \| on: Universal Basic Income is Capitalism 2.0 nah what would happen is payday lending style companies would give a one time cash payout in return for permanent collection of the UBI income stream. the real problem is that 50% of the population has a below average IQ. No matter what you do 15% will end up in financial trouble

sergiosgc on July 30, 2020 [–]

Easy. Legislate away the possibility of UBI being used to pay debts: In case of personal bankruptcy, UBI is unforfeitable towards debt payment. Lenders will quickly shy away from lending against a noncollectable "asset".

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