A Basic Income Is Smarter Than a Minimum Wage

Re:A Basic Income Is Smarter Than a Minimum Wage by empath75 on Monday April 04, 2016 @03:33PM (#11424729)

I think probably the only thing that would have to go along with UBI is extreme restrictions on credit and borrowing for people that are relying on it. It's not really a huge problem for someone to blow all their UBI money for a month or two because they'll have more coming in. If they compound that with high-interest debt, they can dig themselves into a whole they can't get out of of.

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Re:A Basic Income Is Smarter Than a Minimum Wage by knodi123 on Monday April 04, 2016 @04:11PM (#11425120)

> extreme restrictions on credit and borrowing for people that are relying on it

Everyone relies on it. It's an equal amount of cash in pocket for every person.

If you want to talk about restrictions on borrowing- well, what idiot is lending this money to a person with minimum income without checking into their background ? I think we can leave that one up to the banks.

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Re:A Basic Income Is Smarter Than a Minimum Wage by fucking_tragedy on Monday April 04, 2016 @03:50PM (#11424903)

Are you implying that receivers of government aid can't decide for themselves how to use their money?

The point of UBI is to do away with those restrictions, because people usually know how to allocate their available funds towards their needs.

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Re:A Basic Income Is Smarter Than a Minimum Wage by Rylinks on Monday April 04, 2016 @04:07PM (#11425080)

Just make UBI payments unrecoverable by lenders and let the market sort it out.

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