3 ms·

There are "660,755" restaurants in the US (according to Google), and average rent is $5,000/month = $3,303,775,000 (3 billion per month). Seems doable? Except

by ars 6y ago

There are "660,755" restaurants in the US (according to Google), and average rent is $5,000/month = $3,303,775,000 (3 billion per month). Seems doable? Except .... did you forget about all the other places not paying rent? My guess is around 10 million of them. So "only" $60 billion or so per month. Is that affordable? Well, do you want to pay that in taxes?

t-writescode 6y ago
Let's walk this forward some. Restaurants provide jobs, probably 20ish jobs per restaurant. If every restaurant closed down, that's something like 12 million unemployed people who can no longer find employment at those restaurants. Some of those employees might even make enough money to pay taxes and not get their tax money back. What do you think the solution is, rather than just slamming someone's theory on what to do?
- chottocharaii 6y ago
  Mandatory rent holidays.
- ars 6y ago
  Yah, those numbers just cover rent. If you want to cover payroll as well those numbers are going to skyrocket. If you think that's a good use of money, well, make your argument. But please include a cost while doing that. You can't just say "bail them out" and not say how much that will cost. Maybe it's affordable, maybe it's not - but be upfront with your numbers.
  - runawaybottle 6y ago
    It’s doable the same way VC funding for startups is doable. Post vaccine, we expect this industry to thrive again. Bail out the immediate financial commitments, and provide interest free federal loans that don’t have to be repaid for up to three years (similar to student loans). Hell, similar to the loans we gave too big to fail banks once upon a time. I’ve paid for unjust wars in my lifetime and I’ve paid for global financial scams in my lifetime, so I’m prepared to pay for simple restaurants surviving the apocalyptic numbers we’re hearing (60% of restaurants not reopening according to Yelp).
- DuskStar 6y ago
  Let's walk forward some more. Every restaurant in the country goes out of business and stops paying rent. People still want to eat out, so when it becomes legal to serve that market again new restaurants will reopen - and likely with cheaper rent. In the interim, commercial property investors get the shaft. Those unemployed cooks and wait staff won't be unemployed for long, and perhaps throwing money at commercial rents isn't the best way to help them.
- deleted 6y ago
  [deleted]
fakeslimshady 6y ago
You still falling for that taxes trope? It will never come out of taxes. Politically impossible. No presidential regime will take the fall for that. No generation will take the fall for that. That kinda money is just printed Zimbabwe style. The governments left pocket owes its right pocket.
RedShift1 6y ago
$60 billion is a drop in the bucket of corporate earnings that aren't being taxed.
kingkawn 6y ago
A pittance relative to the government spending so far on the pandemic, mostly as giveaways to the rich
trophycase 6y ago
We had a 2 trillion stimulus. 3 bil/month seems absolutely fine to me
damnyou 6y ago
Partly through taxes, partly through printing money.

by ars 6y ago

t-writescode 6y ago

Let's walk this forward some. Restaurants provide jobs, probably 20ish jobs per restaurant. If every restaurant closed down, that's something like 12 million unemployed people who can no longer find employment at those restaurants. Some of those employees might even make enough money to pay taxes and not get their tax money back. What do you think the solution is, rather than just slamming someone's theory on what to do?

chottocharaii 6y ago
Mandatory rent holidays.
ars 6y ago
Yah, those numbers just cover rent. If you want to cover payroll as well those numbers are going to skyrocket. If you think that's a good use of money, well, make your argument. But please include a cost while doing that. You can't just say "bail them out" and not say how much that will cost. Maybe it's affordable, maybe it's not - but be upfront with your numbers.
- runawaybottle 6y ago
  It’s doable the same way VC funding for startups is doable. Post vaccine, we expect this industry to thrive again. Bail out the immediate financial commitments, and provide interest free federal loans that don’t have to be repaid for up to three years (similar to student loans). Hell, similar to the loans we gave too big to fail banks once upon a time. I’ve paid for unjust wars in my lifetime and I’ve paid for global financial scams in my lifetime, so I’m prepared to pay for simple restaurants surviving the apocalyptic numbers we’re hearing (60% of restaurants not reopening according to Yelp).
DuskStar 6y ago
Let's walk forward some more. Every restaurant in the country goes out of business and stops paying rent. People still want to eat out, so when it becomes legal to serve that market again new restaurants will reopen - and likely with cheaper rent. In the interim, commercial property investors get the shaft. Those unemployed cooks and wait staff won't be unemployed for long, and perhaps throwing money at commercial rents isn't the best way to help them.
deleted 6y ago
[deleted]

fakeslimshady 6y ago

You still falling for that taxes trope? It will never come out of taxes. Politically impossible. No presidential regime will take the fall for that. No generation will take the fall for that. That kinda money is just printed Zimbabwe style. The governments left pocket owes its right pocket.

RedShift1 6y ago

$60 billion is a drop in the bucket of corporate earnings that aren't being taxed.

kingkawn 6y ago

A pittance relative to the government spending so far on the pandemic, mostly as giveaways to the rich

trophycase 6y ago

We had a 2 trillion stimulus. 3 bil/month seems absolutely fine to me

damnyou 6y ago

Partly through taxes, partly through printing money.