Not gonna lie, I'm coming around to the idea this will be as bad as the financial crisis. The demand shock is so abrupt and severe that tons of businesses are going to die before help arrives. Fiscal stimulus won't reopen bankrupt businesses anytime soon.
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Say your business had high fixed costs like rent or interest. And the government said, "You cannot conduct business for 3 months." And so you lose everything. I think many people in that situation feel cheated and never return to business. Rightfully so, in my mind.
Helicopter money doesn't solve that problem though. I'm all for unemployment insurance for the employees who lose their jobs, but I'm basically against bailing out the business owner. Business owners must take the good (chance of outsize returns) with the bad (this).
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I'll try to think of a good example to win you on this. It's specificly: forcing a biz to shut down, but telling them to eat costs. That isn't capitalism. These businesses would be fine if folks were free to do what they want. They'd just inadvertently kill 4 million.
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Actually you kind of are winning me over. If government says “restaurant shutdown” government ought to foot that bill. That said, what a clusterfuck that will be to manage.
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I guess you could do some sort of program where if you proved you had a restaurant you could receive business interruption insurance from the USG based on average of last 3 years tax return receipts or something, but...it'll be hard to means test for that.
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