LOUIS BURKE | Culture | CONTACT
Never leaving us without a paddle, the federal government has stepped up today and advised minimum wage workers to check out payday loan options.
After confirming they definitely would not be ruining their donors and bosses’ days by committing to a minimum wage increase, the coalition government are doing their bit for the battler by encouraging them to take out a quick little loan.
“You can get $8k really easy,” stated Treasurer Josh Frydenburg who might also be hitting up some financial institutions in a few weeks time.
“And if the debt follows you forever, you can just pay it off with your super one day. Everyone wins.”
A controversial financial initiative, payday loans are small loans designed to help those who live paycheck to paycheck remain trapped in debt for the rest of their life.
Payday loans are often given without a background check and are intentionally designed to trap borrowers in a cycle of constant debt due to deceptive interest rates in a practice known as predatory lending.
With the high level of risk, low level of ethics, and zero amount of effort involved, it comes as a surprise to no one that the coalition government is touting payday loans as the way to improve living for those making minimum wage.
“It’s that or we introduce tipping. It’s your call.”
MORE TO COME.
