Daniel Halliday
Mar 25 ยท Last update 7 days ago.

Should governments be bailing out companies or taxpayers?

The coronavirus pandemic is widely considered to be leading to a massive global financial crisis as widespread unemployment and bankruptcy disrupts lives and businesses around the world. Globally governments are preemptively scrambling to finance businesses large and small in order to minimise the economic impact of the viral pandemic. However in the United States proposals are somewhat different to elsewhere, and as congress are struggling to pass a bill that works one feature looks set to be included, the government plans to give money directly to American taxpayers. Should recession stimulus go to taxpayers or companies to ride out the economic down turn caused by the coronavirus? Which would be more effective? nytimes.com/2020/03/06/upshot/jobs-coronavirus-economic-outlook.html cnbc.com/2020/03/19/coronavirus-trump-wants-payments-of-1000-for-adults-500-for-kids.html msn.com/en-us/news/politics/president-trump-on-coronavirus-stimulus-e2-80-98we-all-want-to-get-to-the-same-place-e2-80-99/ar-BB11ylhy
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In times when inequality will cause death - give money to people!
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In times when inequality will cause death - give money to people!

In times of great turmoil markets are not good at making sure resources go to those who need it most, they always go to those with the most disposable income. Giving money to capitalists in the hope that they will pay their workers is a gamble that history (specifically the 2008 Great Recession) tells us will end with slush funds, golden parachutes, stock buybacks, outsourcing jobs to contractors, using taxpayer money to break up unions, as well as wage, healthcare and pension cuts. Governments need to consider everyone and giving the general populous liquidity will help the economy stay afloat, people will then spend this money on the provisions they need, helping to save lives and fight inequality while this liquidity will flow freely back through the economy in time. Instead of bailing out the biggest businesses, governments should take the middle man out of the equation to minimise the chances of money going missing or being used on something other than what it is meant for, something which it has so many times in the past, time and time again.

cnbc.com/2020/03/17/universal-basic-income-ideas-are-part-of-emergency-coronavirus-plan.html peoplesworld.org/article/dems-block-mcconnell-2-trillion-covid-19-bill-slush-fund-for-hotels-not-hospitals time.com/5804656/ubi-yang-coronavirus politico.com/news/2020/03/23/senate-coronavirus-rescue-package-143799

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Daniel Halliday
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