On: Ontario announces that it will begin a basic income trial in 2016

[refurb]

I wonder if "payday loan" companies would jump all over basic income? "Can't wait for your next month's basic income check? We'll get you CASH right now for only a small fee.* We're here to help you!"

*Annual interest rate of 1200%

[aninhumer → refurb]

I think the solution to this is not to legally enforce debt collection of Basic Income, so it's impossible to be forced into poverty by debt.

IMO the core purpose of Basic Income is to provide a baseline standard of living, so this solution fits well with that ideal.

This would, however, increase the risk to creditors across the board (since the worst penalty for defaulting is living on Basic Income) but I don't think that's necessarily a bad thing.

[gibybo → refurb]

I think you're right, but I also think there would be much more political pressure to restrict them.