Thread by @Gary_D_Cohn

1/ Lots of talk about potential fiscal stimulus packages that unfortunately seem more political than productive. Govt must spend on COVID-19 containment & prevention. Additional fiscal stimulus doesn’t make sense unless it’s going to help those economically hurt by #coronavirus

2/ A payroll tax holiday would only affect those who are still working or on salary -- and thus getting a paycheck. If they aren’t out spending as they were before #coronavirus, it’s because they’ve made a conscious decision to avoid crowds.

3/ Until people feel safe to resume pre-virus behavior, putting money in their pockets won’t stimulate anything. #coronavirus

4/ Gig workers are the ones really feeling the financial impact right now and in the weeks ahead. They only get paid as they are able to find work. As events get canceled and people go out less, they will certainly struggle. #coronavirus

5/ We should be focusing #coronavirus economic support on gig workers & ppl in the service industry–cinemas, airlines, taxis–that aren’t getting paid or who have lost jobs, & to those who can’t work because they are sick, quarantined or home w/ their kids due to school closures.

6/ And we should make sure small businesses have access to financial support to survive the short-term consumer withdrawal from the economy since it is harder for them to weather times like this. #coronavirus