Re:California will pay off all past due rent
by s1artibartfast on Tuesday June 22, 2021 @02:36PM
(#27595395)
That doesn't address the question of where the money comes from (taxes & debt).
I totally agree that the government screwed over landlords with the moratorium. Everyone with an IQ above room temperature at the time agreed a better solution was better unemployment insurance for those who lost their jobs.
Re:California will pay off all past due rent
by risk000 on Wednesday June 23, 2021 @02:13PM
(#27607948)
Money doesn't come from taxes and debt.
It is created de novo within a computer system.
It is conceptualized, according to intellectual paradigms, as originating as a 'debt' and being "paid back" by taxes. But this accounting is fallacious. There is a movement in economics called MMT which is going to challenge these paradigms.
Well, no, its not; its saying that if the government declares an eviction moratorium (which is extremely rare) without a rent moratorium, it might also, later, if finances ard convenient and it otherwise feels it expedient, retroactively decide to pay off unpaid rents before the end of that moratorium gets you evicted for unpaid rent.
(OTOH, the Fifth Amendment litigation already happening around the eviction moratorium itself might make that non-optional, anyway, and mooting that by providing full compensation now potentially saves the additional costs associated with litigation.)