This sort of action is what we need across the economy. Cancellation or deferral. Rent deferral, interest deferral, mortgage deferral... etc. At the individual level maybe limit it to the lower 50%-70% of income earners. Cancel interest and utility/rent/mortgage payments for lower income population. Do it for 2-3 months. The upper half will just eat into their savings some but won’t suffer like those living paycheck…
McDonald's franchisees are the upper half.
Definitely upper half. Considering it costs about $400k just to be able to bid on a franchise...
I suspect basically all commercial landlords are going to have to consider rent deferrals or outright eating 3-6 months of rent. The alternative very likely could be the majority of their properties simply becoming vacant, which isn't a good business stance for coming out of all this.
This kind of thinking astounds me. What kind of margins do you think landlords are making so that they can afford to ‘eat’ 3-6 months of rent?
He's saying if they don't, they will have to eat those rents permanently.
I suspect basically all commercial landlords are going to have to consider rent deferrals or outright eating 3-6 months of rent. The alternative very likely could be the majority of their properties simply becoming vacant, which isn't a good business stance for coming out of all this.
>majority of their properties simply becoming vacant,
Which is exactly what landlords in Hong Kong are doing. And they couldn't care less, since most of those properties were already paid off.
> The middle class already pays most of the taxes I'm not so sure about that. The top 1% pays 37% of federal income taxes. Meanwhile, the bottom 50% paid only 3% and 44% of paid nothing at all. Depending on the source you use the middle class in America is typically considered to top out at incomes between 100k and 122k. In either case the middle class pays less than half of income taxes. Then looking at the bigger p…
This can be misleading because it doesn't account for wealth concentration. When you realize HOW MUCH of the wealth the 1% control, 37% seems small.
That doesn't make the statement misleading. We tax income. The middle class doesn't pay the majority of taxes.
You may think there should be a wealth tax but the statement isn't misleading. The prior statement was inaccurate.
It's funny how pretty much everyone was against the buyout of Lehman's Brothers, but now those same people will tell you that you should buy them out. Here is an idea - why don't we all mind our own business? inb4 this will affect us all - so did LB defaulting. If you're strong enough to wrestle a pack of toilet paper out of a senior arms, then you are probably strong enough to survive for a while by eating out of a…
Lehman were crooks. Like actual crooks.
That may be true, but a lot of legit business was based around and on LB. A lot of good, honest people that would go down with it. How many of the people involved were really reaping the benefits and making the shots? We are in a similar scenario now. A few people made the wrong calls and did nothing to contain the disease. A lot of people will suffer. Why should we care this time?
It's funny how pretty much everyone was against the buyout of Lehman's Brothers, but now those same people will tell you that you should buy them out. Here is an idea - why don't we all mind our own business? inb4 this will affect us all - so did LB defaulting. If you're strong enough to wrestle a pack of toilet paper out of a senior arms, then you are probably strong enough to survive for a while by eating out of a…
It's funny how pretty much everyone was against the buyout of Lehman's Brothers, but now those same people will tell you that you should buy them out. Here is an idea - why don't we all mind our own business? inb4 this will affect us all - so did LB defaulting. If you're strong enough to wrestle a pack of toilet paper out of a senior arms, then you are probably strong enough to survive for a while by eating out of a…
It's also funny that people are ready to downvote anything they do not agree with. Let me explain to you how it works - the downvote button is a tool that should serve to mark comments that are unnecessarily inflamatory or provide no value on their own. This is not a toy for you to remove opinions that you do not agree with. For this unique situation in which the whole world somehow does not agree with you, please use the hidden "reply" functionality. I know it's hard to imagine that something that you FEEL is wrong might be true, but it's just such a cruel cruel world that we live in.
>If we're talking about the US here, 'until' seems to be an optimistic presumption that our government has any intentional of helping small businesses. There are dozens of articles of Trump taking something to congress today apparently to do just this https://www.chicagotribune.com/coronavirus/ct-nw-coronavirus... >Mnuchin planned to outline that roughly $850 billion package to Senate Republicans at a private lunch,…
Ah, good point. Pandemics make even ISPs and Trump seek to be seen to be acting in the public good. (But not Charter, and not hoarders.)
Yeah, politicians need voters to not completely hate them so they can get re-elected. Imagine if instead politicians were selected by lottery, served shorter terms, and had their appointments staggered.
I wonder if any authors have given this a shot in fiction, I'd read it.
Ah, good point. Pandemics make even ISPs and Trump seek to be seen to be acting in the public good. (But not Charter, and not hoarders.)
Yeah, politicians need voters to not completely hate them so they can get re-elected. Imagine if instead politicians were selected by lottery, served shorter terms, and had their appointments staggered. I wonder if any authors have given this a shot in fiction, I'd read it.