Comment by lotsofpulp
Comment by lotsofpulp 4 days ago
Can you be more specific? Suppose I put $1M into developing a business.
For whatever reason, construction hits a snag or revenues are not enough to cover expenses, how would it become “society’s” problem? Do I get made whole by the government giving me $1M, and the government takes posession of the property?
If so, I foresee a lot more opportunities for corruption.
> For whatever reason, construction hits a snag or revenues are not enough to cover expenses, how would it become “society’s” problem?
You declare bankruptcy. Your vendors who extended credit get hosed. Your employees go on unemployment benefits. Each of these costs money, and each of these reduces taxable income.