Also, businesses should have enough savings to keep paying for all of their employees in a crisis like this.
The employees in turn have to remember they have the power. If they decide to just not return unless they get paid and their already scarce vacation days back, the company is screwed.
not really. They aren't software engineers in high demand. An acquaintance works 2 jobs - he've got a family - one job is at Tesla, and now both of these jobs are off. There is some deep unjustice that the cost of all these lockdowns/etc. is paid by the most disadvantaged members of society while Mnuchin (who has a well established track of record of exploiting for personal gain the tough fate regular people fell into during a 2008 crisis) is going to get a $1T to use at his will.
1. Gov pays employees for missed days, biz closes for unpaid vacations.
2. Gov pays biz for missed revenue, biz extends paid vacations.
Also don't forget that gov does not even earn/save money, so "gov pays" is an instant failure in a rational discussion.
Isn't that's what's normally written in history textbooks shortly before "hyperinflation, economic collapse, failed state"
Taxes are not about revenue collection, they're about controlling inflation. Print lots of money, distribute it evenly to everyone, and make a one time levy on all bank deposits to remove the same amount from the economy. You can call it stock buyback buybacks if you like ;)
There may still be some initial inflation, as this action just released a lot of purchasing power to the masses. But people are tightening the purse, and long term things should level out.
There are many ways a government can help during an economic crisis.