It seems the Real Estate industry is doing VERY well, locally. So are car sales and home renovations businesses including retail sales for redecorating. I am sure industries like ‘personal protective equipment’, medical suppliers, insurance, shipping, and Amazon have flourished during this pandemic. Record profits!
If that is the case (and that’s a big IF), are these companies helping ‘prop-up’ industries that have gone without income for months? Are they just going to let them crash? Is there a mechanism (or an incentive) for people to be financially generous in a time when they flourish?
How does government stabilize this economy? When “Industry A” makes money hand-over-fist, they pay taxes on it. When “Industry B” is dying, they get ‘help’ from government (low-interest loans…etc.) that are ultimately paid-for by all of us. What if “Industry A” could lower their ‘income’ by helping “Industry B” keep expenses down?
Our example is shipping. The shipping rates for our products are ridiculously expensive. What if shipping companies received an incentive to help a struggling “B” – Businesses? If you have any suggestions on how to do this, please let us know. We are looking for the flourishing company that we can exchange services with… e.g. ‘You pay less tax, I get help to ship my products (as a tax-shelter), and society is not strangled by paying back my ‘government help’ loans.
In our case, we found ways to be contributors to the greater community. Rather than closing the doors and doing less work (and accepting the CERB), we buckled-down to provide thousands of meals to people who needed to stay home during early COVID-19 at COST. We advertised and managed promotions for Meals on Wheels because it matters to the rest of our customers. It felt great, and people appreciated it. As demand declined (down to 20 meals per day), we decided delivery of the first-wave of help (we could provide) had been complete.