Instead of hundreds of billions in loans to businesses, which have to be underwritten -- and as discussed on Slides 17/18, the SBA did an abysmal job administrating during Hurricane Sandy, helicopter money might be the better answer.
Give everyone money, no criteria. If we do impose income limits, and since viable proposals do -- we ought to discuss it. Give them a check now anyways. We cannot be worried people will be "annoyed" if they owe their check back come next tax season. Future annoyance is a small price to pay if these businesses can't stay afloat. We will be feeling the effects for far longer than a quarter. The helicopter money needs to be distributed as soon as possible.
Much has changed since Friedman was in vogue. The application of such economic theories has left a solid portion of Americans in the dust. Fully free markets are a great idea when houses cost 2x median annual income, a single family income can support a spouse and ~2 children, etc.
That is the question -- it might legitimately be harder to adjust marginal tax rates than to add an income limit, even if the outcomes would be identical either way.
Helicopter money won't help businesses in the service industry where people literally can't spend their newfound helicopter dollars. With the incompetence of the SBA I'm not sure what a total solution would look like, but helicopter money can only be part of a larger plan if we want to save America's small businesses.
Give everyone money, no criteria. If we do impose income limits, and since viable proposals do -- we ought to discuss it. Give them a check now anyways. We cannot be worried people will be "annoyed" if they owe their check back come next tax season. Future annoyance is a small price to pay if these businesses can't stay afloat. We will be feeling the effects for far longer than a quarter. The helicopter money needs to be distributed as soon as possible.