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Really appreciate consideration and kindness that went into this proposal but, I disagree with its premises: 1. Starting a business and making it is not supposed to be easy. It is supposed to be hard. That’s why you get to earn more money if you succeed https://twitter.com/BrentBeshore/status/1240658427577118720 …
2. This was neither unimaginable nor unforeseen. If you’ve ever picked up a history book, you’ll know that these things happen...all the time. Second, this was from unforeseeable in January. Any smart business owner was drawing his line of credit in early February.
3. Where does all this money come from? Do we not believe in conservation of energy here? Eventually we’re going to wind up with hyperinflation if we keep printing massive amounts of money in response to every business culling event.
4. It sends the completely wrong message. This is America. I’m all for unemployment insurance but why are we bailing out mom-and-pops who didn’t conservatively save for a downturn? Because we feel bad? If we save everyone all the time, no one will save.
Efficiency in markets and in value to the customer is driven by survival of the fittest, which means that weak entities need to fall out of the species. Sad but true.
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