what happens if people CANNOT pay their taxes?
filed my taxes, and like many business owners and self-employed, i pay quarterly. these amounts are not small.
my Q1 was ok, but Q2 was destroyed, and Q3 looks to be down. having government and property taxes deferred to later in the year is still going to suck. got cash / rainy day fund / security blanket — and my overhead is small — so thankfully, i can afford pay, along with my mortgage and credit card bills. but i suspect there's going to be LOTS of other self-employed or business owners / property owners who won't have two goddamn loonies to rub together when the bill is due.
so what happens?
the country, provinces and cities will need to start hitting the massive deficits caused by pausing the economy. but you can't get blood from a stone, right?