re: #138 KGxvi

The problem is, it’s a potential crisis up and down the chain. Most landlords (big and small) aren’t in a position to just waive rent - they have mortgages to pay, payroll to keep/property managers to pay; or it may be a main source of income (particularly in retirement for smaller landlords). Tenants stop paying rent, landlords either have to lay off employees or default on their mortgages; that sets up another mortgage crisis as it will fuck with the banks’ liquidity requirements.

It’s a basic economics problem - whatever the system - they are all designed to keep running, like an old clock. When one cog in the system comes loose, it fucks with the entire system. And there really isn’t an easy way to fix it (there are some simple ways, perhaps, but they are not easy).

The simplest way would be for the government to assume some amount of the lower level rent to be paid up the chain. Probably not all, but a good chunk. Then tax the wealthy to pay for it because otherwise it’s just moving more money to the rich.