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A comment on Almost 90 percent of NYC bars and restaurants couldn’t pay August rent. Parent comment

Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by t-writescode on Tuesday September 22, 2020 @12:09AM (#24550738)
I'm interested in my tax money being used to help stabilize the local population to minimize harm to them during this time and thereby minimize unrest and keep the whole of it safer.

If my money is going to be going to making missiles and weapons for overseas, some of it can come back and pay for rough times instead.

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by username90 on Tuesday September 22, 2020 @12:28AM (#24550848)
It would be nice if it actually worked that way, but about 25% of US government spending are debt and not taxes in a normal year. So these bailouts doesn't come from your taxes, they are pure government debt that will crash the economy sometimes in the future when the government stops propping up the gdp via endless debt accumulation.

Imagine if they were honest instead and said "We pay these bailouts now and increase taxes from 30% to 50% for the next 10 years to make up for it", how many would be happy?

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by apta on Tuesday September 22, 2020 @12:17AM (#24550781)
How will preventing lenders from foreclosing prevent harm? If anything, it will allow people to purchase property since prices will reduce as there is more supply in the market.
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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by AdamJacobMuller on Tuesday September 22, 2020 @12:16AM (#24550777)
A less drastic solution, which doesn't require much money, is to just force lenders to allow landlords who lost tenants or whose tenants can't pay to allow the landlord to defer loan payments (extending the final date of the loan).

It's not exactly fair to landlords who own the properties outright, but, I can live with that.

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by nradov on Tuesday September 22, 2020 @12:22AM (#24550818)
Many commercial property mortgages already contain clauses allowing the borrower to defer payments if they don't have a tenant. For those that don't, well they should have negotiated better terms before taking out the loan.
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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by t-writescode on Tuesday September 22, 2020 @12:19AM (#24550797)
Is it turtles all the way up? Do the landlords who are paying down their mortgage also get a deferment?

What do we do about the people that presently have no money? Do we also give them a stipend to pay for food, etc? Or force them onto credit cards?

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by peteretep on Tuesday September 22, 2020 @12:21AM (#24550813)
If you can borrow from the central bank, the buck stops at you. Seems fair
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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by imtringued on Tuesday September 22, 2020 @06:13AM (#24552800)
You can live with endangering the banking infrastructure? The place where all your hard earned money is stored at? This will end with a bank bailout because nobody wants to lose their money because some idiot decided to implement deferment of loan payments.
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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by respondo2134 on Tuesday September 22, 2020 @01:02AM (#24551025)
>>It's not exactly fair to landlords who own the properties outright, but, I can live with that.

Well of course you're OK with that, you're obviously not a property investor who worked to get free and clear. What if instead we levied a special premium salary fee on technology workers who make more than the median salary? Not really fair but us worker bees are OK with it...

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