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Re:Payday loans are coming for everyone by cullenking on Wednesday September 19, 2018 @12:49PM (#18025574)
I run payroll, and everytime I do it's a potential mistake waiting to be made. We use Gusto, which is about as good as it gets for online / easy payroll, and there are still occasional issues. Payroll doesn't just pay an employee, it also handles proper withholding for each employee with an ever changing system that is tied to a huge swath of federal/state/city tax rules, which includes how often you have to pay the locality, usually based on how big payroll was in that locality. Basically, doing this everyday, having it trickle in, seems like a nightmare. I think for it to work properly the end to end system needs to be reworked, and I don't think the potential benefits outweigh the risk and work required.
Re:Payday loans are coming for everyone by kozhevnikov on Wednesday September 19, 2018 @01:21PM (#18025861)
"If it hurts, do it more often"
Re:Payday loans are coming for everyone by jerf on Wednesday September 19, 2018 @01:44PM (#18026079)
That works when the pain is something you can fix, and the cost of experimenting isn't too high. I'm not sure government bureaucracy meets that description, and experimenting can become very expensive if you screw up and the Eye of Sauron turns upon you and starts auditing.
Re:Payday loans are coming for everyone by coldtea on Wednesday September 19, 2018 @01:53PM (#18026170)
In code you write, not in real deployments where it can cost you millions.
Re:Payday loans are coming for everyone by r00fus on Wednesday September 19, 2018 @02:19PM (#18026412)
The cost/benefit doesn't pan out. We're not talking about exercise here, we're talking about regulatory liabilities for any mistakes being very potentially costly.
Re:Payday loans are coming for everyone by poulsbohemian on Wednesday September 19, 2018 @01:45PM (#18026095)
I love the spirit of this, but there are so many industries where it would be nearly impossible to pay daily or even weekly. The administrative overhead would be huge and costs to customers would go up to accommodate. I'm thinking about my own past experiences, where trying to automate away (the only solution here to more frequent billing + payroll) would be tremendously challenging and industry / company specific.
Re:Payday loans are coming for everyone by test6554 on Wednesday September 19, 2018 @01:43PM (#18026076)
Preparing city, county, state and national governments for daily automated payments seems like a good first step. That and creating guidance for companies.