For those of you who think going on an extended bank holiday and no taxes are truly going in the wrong direction. Just think what would happen if you paid no taxes-all state and local employees would be laid off, no garbage pick up, no lights on your roads, no sewer maintenance, no water coming into your homes, social security checks would stop, as would disability checks, no medicare or medicade, no emergency EMT or fire department etc., In short a collapse of our basic structure. So, no taxes is not the answer. The answer is to keep the system going via pumping more money into the economy via the Fed Reserve lowering interest rates, buying bonds, and lower bank cash retention. Also, we need more infrastructure money to create more jobs. The issue right now is not debt-we can deal with that later-we need more money in the system right now. Look if I said I will loan each of you $250,000 to keep you in business, pay you and your employees a fair wage, pay equipment loans, etc say for the next 5 years ;and you don't have to pay it back for the next 25 years at 3% interest-starting 4 years from now; and no personal guarantee now- you probably would say yes. Well, that is what the Federal Reserve is doing right now-but on a much larger scale. On a business level you really need to sit down with paper and a pad and write out how much you are earning and then write down all your expenses. Determine which expenses you can cut right away-like laying off employees-or cutting their hours to match the business that is coming in. Call your landlord and tell him you cannot afford to pay as much. Believe it or not your landlord is better off with you there. He probably cannot rent it to anyone else. If you have equipment leases with leasing companies tell them unless they extend the lease and lower the payment you will be closing down. I can tell you that no leasing company wants you equipment back-there is no one to re-sell it to except at substantial lose. Right now debtors are in control not creditors. Its a debtors market.
If you don't think so then why was Xerox so eager to extend the term of my lease when I sent them just an e mail requesting it. But be specific as to what you want. Don't say to your landlord "can you reduce my rent". You tell him he has to reduce the rent by $1000 a month or whatever and see what he says.
Go into what I call "survival mode" you need to do whatever it takes to survive.