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Why can't we collectively say, no Americans have to pay mortgages/rent for x months. No small/medium sized businesses have to pay business loans for x months.

Why can't we collectively say, no Americans have to pay mortgages/rent for x months. No small/medium sized businesses have to pay business loans for x months. Everyone focus on social distancing and making sure everyone has food and shelter. Weather this out, and start back up after peak infections/hospitalizations has been dealt with.

isoskeles 7y ago
Yeah, I feel like this would be cheaper without propping up banks or landlords who don’t have a mortgage. I don’t know if most payment software can handle it but you basically set back any mortgages by N months. Similar for rent you somehow mark it as paid, whatever that arrangement looks like.
ghouse 7y ago
Rent too? What about car payments? Utility bills? Student loans? That's fine, but then the banks go out of business? So, do we bail them out? How much is appropriate? And now we're a central-planned economy...
bequanna 7y ago
> Why can't we collectively say, no Americans have to pay mortgages/rent for x months. Who would say this? The Federal government? I'm no lawyer, but essentially, they would be voiding hundreds of millions of contracts (?) The Government can't just wave a wand and take an action like this. Even if they could, I don't think you would feel very good about this 'eat the rich' approach for long. Think about it: Why would I as a landlord keep paying utility bills, taxes, insurance when my tenants don't pay me rent? Why would I pay my mortgage? I wouldn't. I would simply walk away. How long after you stop paying rent before your apartment doesn't have running water? The real estate market would be decimated. Banks would fail. Trillions and trillions in value and investments destroyed. Unemployment would skyrocket. Goodbye recession, hello depression. A back door approach to this is a moratorium on evictions, which some states have done. Good luck trying this approach if you're a tenant tho. If this crises is shorter than expected, you'll shortly be evicted and carry that on your record. I think you're operating on the misconception that landlords and businesses are making outsized margins and 'hoarding' wealth. To think that they somehow would have the ability to continue providing you with services and incurring all expenses without any income is naive. Direct cash payments to all taxpayers is the easiest, fastest, and probably cheapest way to achieve your goals of bailing out those at risk.

isoskeles 7y ago

Yeah, I feel like this would be cheaper without propping up banks or landlords who don’t have a mortgage. I don’t know if most payment software can handle it but you basically set back any mortgages by N months. Similar for rent you somehow mark it as paid, whatever that arrangement looks like.

ghouse 7y ago

Rent too? What about car payments? Utility bills? Student loans? That's fine, but then the banks go out of business? So, do we bail them out? How much is appropriate? And now we're a central-planned economy...

bequanna 7y ago

> Why can't we collectively say, no Americans have to pay mortgages/rent for x months. Who would say this? The Federal government? I'm no lawyer, but essentially, they would be voiding hundreds of millions of contracts (?) The Government can't just wave a wand and take an action like this. Even if they could, I don't think you would feel very good about this 'eat the rich' approach for long. Think about it: Why would I as a landlord keep paying utility bills, taxes, insurance when my tenants don't pay me rent? Why would I pay my mortgage? I wouldn't. I would simply walk away. How long after you stop paying rent before your apartment doesn't have running water? The real estate market would be decimated. Banks would fail. Trillions and trillions in value and investments destroyed. Unemployment would skyrocket. Goodbye recession, hello depression. A back door approach to this is a moratorium on evictions, which some states have done. Good luck trying this approach if you're a tenant tho. If this crises is shorter than expected, you'll shortly be evicted and carry that on your record. I think you're operating on the misconception that landlords and businesses are making outsized margins and 'hoarding' wealth. To think that they somehow would have the ability to continue providing you with services and incurring all expenses without any income is naive. Direct cash payments to all taxpayers is the easiest, fastest, and probably cheapest way to achieve your goals of bailing out those at risk.