Covid-19

With the federal government recently signing into law a stimulus package I thought it would be a good opportunity to talk about some of the relief it will provide. Social media is exploding with individuals already deciding how they will spend their $1,200 without reading the fine print. It’s no secret that a majority of social media users are younger and therefore may be under parental dependency. This oversight on the part of many young individuals will come as shock in the coming weeks. According to the bill, these checks will be provided to those with 2018 tax returns that show they’ve made less than $75,000 in that year. What many don’t consider is that dependents will not receive any income in the days to come. In contrast some major industries, such as the airline industry, are receiving massive portions of the overall stimulus spending. The moral questions here is whether individuals and families that do not qualify should be propping up industries that have for years offered low wages and high consumer prices.

              Small businesses are being offered loans that will be forgiven at the end of the national emergency under the condition that they continue to pay their employees their expected normal salaries. This leaves the entrepreneur in an odd situation as any company outside of the essential industries are also being barred from operating. Throughout the country we are seeing mass unemployment and small businesses closing their doors. The questions are being asked as to whether the precautions and social isolation will untimely cause irreversible damage to these sectors while the federal government is continuing to prop up larger corporate competitors. Americans also seem to be pretending to socially isolate as they continue to shop regularly and inhabit public spaces. State governments in certain parts of the country, such as New York, have even gone as far as arresting and writing tickets to people that ignore state instructions. This crisis will either spur a new generation of innovation and entrepreneurship or cripple the world economy for the foreseeable future. Only time and entrepreneurial drive can determine this countries future.