We need to bring back the guillotine, and assholes like this guy need to be given a free pass to the front of the line.
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“Congratulations, sir! You’ve been comped a Superpass to Disney’s new ‘Early Nineteenth Century France’ exhibit!”
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different maybe, but with an adjustable funnel between them.
what would have made sense - other than direct worker support, which would have made the most sense - is to mandate businesses in the ppp have a living wage for their employees and that the bosses salary is within x% of the worker’s salary.
it’s far too easy to take one of these loans and transfer the money from the company to the boss with an increased salary or a one time bonus, even while cutting hours and keeping wages down for workers.
some people are doing the right things with these loans, and really needed the loans to stay afloat. that said, i wouldn’t hazard a guess about the percentage of the loans being used in the right way. the administration has bypassed all of the regulations that went along with the various measures.
anecdotally, the people i know who applied for them were turned down because the big banks flavored their big clients when getting the paperwork through.
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I think the problem is that awful people are attracted to other awful people, i.e., Republicans.
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Anecdotes aside, the PPP loans have been a critical lifeline for small businesses. This money is intended to be injected directly into the economy as quickly as possible. Period. Whatever fraud and grey-area is out there pales in comparison to the benefits of having this money easily available. Conservative love to get everyone’s panties in a bunch over moral hazard issues, but we don’t need a moral lesson - we need fucking cash, like yesterday, or you are not going to be worried about fraud, you are going to be worried about food lines and which tent you’ll get a tetanus shot in.
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Contact the Ayn Rand Institute, they grabbed some Covid relief cash too. Maybe they don’t need it for boot straps after all.
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Do they have employees?
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They employ people. If they took a hit over covid, who cares about their philosophy? Their employees have bills to pay. Should they lose their jobs because their bosses are rich or hypocritical?
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Well, it certainly would be ironic.
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Here’s my anectode.
My business took a fair hit from covid. Between supply issues, crazy volatile sales, and shipping issues we took a massive hit in revenue in February. I ended up having to lay off everyone and work the entire business myself for five months. I produced and sold just enough to tread water and pay bills. I didn’t pay myself for months. Eventually, at my physical, mental and emotional limit, I looked into PPP loans and applied via Paypal (yes Paypal). The amount is about three months payroll. Certain expenses, like payroll and some overhead are forgivable (not sure what it’s currently at but originally up to 75% of the loan). We got enough to pay some outstanding bills, get restarted on workers comp insurance and hire one person back, which is exactly what I did. We now have two people rehired, and it’s a struggle, but we are slowly building back up. The PPP loan was not a ton of money, but it came at an absolutely critical time. I have two employees that simply would not be there if it had not come along and I’d have probably had to go into bankruptcy or worked myself into a stroke. Not sure that would have been a good result for anyone.
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This time though when I lost my job I was laid off. I didn’t tell them to go fuck themselves, that was the other place.
On the trump stuff- I am right there with you 1000000%.
I read the news multiple times a day and I am ready to become that guy that starts pounding his keyboard until his head turns into a fleshless meat blob. everyday I wake up and read the news I want to slam my face into a brick wall until I have no skin left.
I intensely fucking hate with pure white hot fury these idiots chanting “superman! superman!” as more people die
Make it end please someone make it end
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Yeah, pretty much.
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Nope. 110% bootstraps. It’s bootstraps all the way down.
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see my previous comment.
( edit: i do appreciate the pdf link. still, the current administration has co-opted most of the government’s publications, and as i said they didn’t follow the law regarding the ppp regulations so fraud is anyone’s guess.
moreover… i never said it didn’t help anyone, i only said that its target audience was wrong and wide open for abuse.
https://www.nytimes.com/2020/08/28/business/ppp-small-business-fraud-coronavirus.html )
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So biden is going to “destroy” your business before he is even inaugurated much less enacted any policies? The most charitable explanation is that you are already planning to fire a bunch of people and are looking for anyone but yourself to blame. Well thats not true, the most charitable explanation is that you are an idiot.
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It isn’t crazy to believe that Trump’s policy for his lame duck period will be to screw America as much as possible, in which case many businesses will suffer before Biden has a chance to fix everything. I wonder if this is what the dude means.
“If Trump and the Republicans win (the election), DMC will hopefully be able to continue operating, more or less as it has been operating lately.”
Is this an admission from the employer that they are maybe breaking some laws (Employment? Environmental? Safety?) and might be held to account under a less grifty administration.
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And no mystery why. Generally with things like this and even with grants, there’s a huge focus at the top on “getting the money out the door.” It’s one metric that’s easily measured. So banks have an easier time with a few, larger loans than hundreds of smaller ones.
Locally, a bunch of schools are scrambling because if they don’t spend out the grants they got to deal with COVID by the end of December, they lose the money.
It is so nonsensical and frustrating. It disincentivizes thoughtful planning and preparation in favor of hasty money grabs.
Tho, I do know small businesses who got the PPP loans and used them as we’d all hope. I think they’re the proverbial tip of the iceberg in terms of funds received.
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