[ExI] Income and services for the underemployeed or unemployed

[Emlyn]

2009/4/21 deimtee <deimtee at optusnet.com.au>:
> Emlyn wrote:
>
>> ---------
>>
>> Since I wrote that, I feel more convinced that universal income
>> doesn't quite solve the problem that it wants to solve. In particular,
>> people get into debt, so easily! A lot of people with newfound
>> universal income will immediately swap it, as balancing debt, in
>> perpetuity, for some frivolous short term gain (extra cash, a holiday,
>> a big car?). Of course individual choice is good, but you know this is
>> going to happen en-masse almost immediately, and then the enterprise
>> has failed before it has begun.
>>
>>
>
> A way to counter this would be to make bankruptcy easier to declare, and
> exempt some types of asset from bankruptcy confiscation - primarily the
> principal residence and one vehicle.
> It should also be impossible to re-assign payment of the basic income.
> Anybody who would then lend them money against future basic income is taking
> a suckers bet.
> If they have enough other assets to make a loan reasonable, then their debt
> is not a problem.
>
>
> -David.

Does this actually work? I get the impression there was a lot of easy
bankruptcy going on in the US just before the subprime thing hit.

-- 
Emlyn

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