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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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.
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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Let’s walk through an ideal situation: Govt: “close all restaurants for 3 months. You will receive your net income from last years tax return divided by 4” Restaurants: lay-off employees, cannot pay rent with this money. Unemployment insurance covers employees but not landlord
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Govt: “close all restaurants for 3 months. You will receive last years sales divided by 4 but you must pay your landlord and employees and suppliers” Restaurants: *cheat the hell out of the system because too hard to enforce*
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