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It is expected that 54 percent of all small businesses in America will close in the next 14 days, The Hill reported.
To make matters worse, a poll conducted by the U.S. Chamber of Commerce showed that one in four small businesses will close permanently within two months.
Considering that businesses declared “non-essential” were ordered closed weeks ago, and officials are now suggesting that the “stay home” orders be expanded into May, the future is very grim for some businesses.
There is no rhyme or reason for selecting firms to be shut down. Governments can shame craft stores like faith-based Hobby Lobby into closing all its stores while children are home from school and adults out of work with little to do for weeks at a time.
Yet, the government declares Target to be essential because the stores have a few aisles devoted to food, but are still allowed to still sell crafts, lawn and gardening, electronics, toys, greeting cards, gifts, bedding, etc. — all of which were previously available in the now-shuttered local mom-and-pop shops.
Maybe someday someone can explain why it is easier to maintain a six-foot “social distancing” rule in a crowded Walmart where people are constantly walking a foot or two away from others, than it is for 10 people to be in a local gift shop over the course of an hour.
While the government may declare those small businesses to be unnecessary luxuries, the firms are very essential to the families supported by those firms — and to the economy at large.
As I reported earlier, according to JP Morgan Chase, “Over 99 percent of America’s 28.7 million firms are small businesses. The vast majority (88 percent) of employer firms have fewer than 20 employees, and nearly 40 percent of all enterprises have under $100k in revenue.
According to the Small Business and Entrepreneurship Council, there were 5.6 million employer firms in the United States. Of that, 98.2 percent employed fewer than 100 people. There were also 24.8 million self-employed people.
Never, in the history of America, has a government worked so hard to cripple its economic engine by picking the winners and losers in business.
As of April 5, there are 312,249 confirmed cases of COVID-19 in America, representing 0.095% of the total population.
A total of 8,503 total deaths can be attributed to COVID-19.
With $2 trillion in new federal spending already approved and additional amounts being sought, each death has cost has cost taxpayers $235,211,101 in relief money alone — not including hard costs to treat the illness or shutter the economy.