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The problem is, if a business had employees and maintained that payroll for a prescribed time without firing them, then the PPP loans were forgiven. Maybe business was great, maybe there was no drop in profit, most of those employees would have been paid anyway. So PPP was a pure windfall in those cases.
So just like cash for clunkers and the $8 thousand home buyers credit of the great financial crisis, PPP just paid out money for activities that mostly would have happened anyway. Government, red and blue alike, sprays money around at random in a crisis, and to their friends in normal times.
And that is what one of the Kardashian girls did...you didn't expect them to use their own money for salaries did you ? She got over $1 million, didn't fire anyone so that $1 million became "free money" for someone who's wealth is near $100 million.
The Dems sure took care of their own with that "free" PPP money didn't they ?
Even Mr. Nancy Pelosi got his $2 million dollar "loan" forgiven.
Those celebs will be rooting for the Dems come next election.....SUCKERS !
What do the Dems taking PPP loans have to do with the Republican hypocrisy of student loan forgiveness?
MTG received $183,504 in PPP loan forgiveness. Please explain why its ok if she is forgiven but not a student. Why should the taxpayers pay for MTG's 183k loan?
First, doesn't it strike you as strange that the MSM is only pointing out how (R's) took out PPP, but not any (D's)?
That is the OP is pointing out.
More importantly, there is no hypocrisy, as one thing does not have anything to do with the other with student loans vs. PPP loans.
One was voluntary, with people making a choice to take out loans for rubbish degrees they could not earn a living with.
The other was a worldwide pandemic, and with mandatory lockdowns, many businesses (and their employees) were going to lose their livelihoods.
I’m not sure I agree. In theory you are correct, it is not an apples to apples comparison. However, there were businesses who did not need the money. They were not shut down by the government and yet they were allowed to apply for the loans and received them. It was a massive corporate welfare program. Both republicans and democrat owners did this.
Yes, PPP was made ridiculously.
Nonetheless, everyone who took a PPP loan out knew upfront it would be forgiven if they followed the rules on paying employees.
It is low IQ of Democrats to then compare it to student loans where you know upfront you have to pay it back.
First, doesn't it strike you as strange that the MSM is only pointing out how (R's) took out PPP, but not any (D's)?
That is the OP is pointing out.
More importantly, there is no hypocrisy, as one thing does not have anything to do with the other with student loans vs. PPP loans.
One was voluntary, with people making a choice to take out loans for rubbish degrees they could not earn a living with.
The other was a worldwide pandemic, and with mandatory lockdowns, many businesses (and their employees) were going to lose their livelihoods.
Think about it, don't kneejerk.
One prominent "D" was Mr. Nancy Pelosi ...$2 million and it got forgiven.....
What do the Dems taking PPP loans have to do with the Republican hypocrisy of student loan forgiveness?
MTG received $183,504 in PPP loan forgiveness. Please explain why its ok if she is forgiven but not a student. Why should the taxpayers pay for MTG's 183k loan?
Yeah, I can see how this thread is going to go already. It's going to mirror what I've seen on Twitter the last couple of days. Ignorant people are going to claim, as you have above, that comparing the two situations is valid. Then sane, informed people will tell them why it's not. Then the ignorant will ignore everything they just read and repeat what they originally wrote, but worded differently.
Hey sane people - don't argue the hypocrisy angle. By doing so, you're doing two things. You're legitimizing it, first of all, but more importantly, you're taking attention away from the real problem with this plan, which is that the executive branch doesn't have the authority. It's a blatantly unconstitutional action. Even Nancy Pelosi understood this and said as much, when the idea was first floated. Don't let them drag you down into the mud. Don't let them corner you into defending a politician who's never heard of you. Defend the law. Defend the Constitution and the separation of powers. Make them face the illegality of what he's proposing, instead of getting wrapped up in some ultimately meaningless moral debate.
Yes, PPP is a black mark on the presidency of Donald Trump.
He promised a lot but did nothing in so many areas: no health care plan, no infrastructure plan, no deficit reduction plan, no merit-based immigration plan, but he gave us PPP!
He needed the help of congress to do anything. Trump had a health care plan, he revealed it during the campaign. Unfortunately half the Republican Congress refused to support him because they still had faith in our FBI, and thought Trump might have been a traitor who colluded with the Russians. Otherwise why would the FBI be investigating him?
Remember, it was Trump who begged the nation to reopen and get back to work after that short lock-down to "slow the curve." So don't blame Trump for the COVID lock-down insanity that caused the nation to collapse and resulted in the crisis that gave birth to PPP.
All this does is prove that Congress makes sure themselves and their donors can benefit while allowing some of the peons (the rest of America) to reap some breadcrumbs.
Like people didn't know this already ?????
Look at those spending bills....barely a fraction actually goes to the action in the title.
Trillion dollar bills for X and then $20 billion directly towards X while the other $980 billion goes to "friends and family".
Yeah, I can see how this thread is going to go already. It's going to mirror what I've seen on Twitter the last couple of days. Ignorant people are going to claim, as you have above, that comparing the two situations is valid. Then sane, informed people will tell them why it's not. Then the ignorant will ignore everything they just read and repeat what they originally wrote, but worded differently.
Hey sane people - don't argue the hypocrisy angle. By doing so, you're doing two things. You're legitimizing it, first of all, but more importantly, you're taking attention away from the real problem with this plan, which is that the executive branch doesn't have the authority. It's a blatantly unconstitutional action. Even Nancy Pelosi understood this and said as much, when the idea was first floated. Don't let them drag you down into the mud. Don't let them corner you into defending a politician who's never heard of you. Defend the law. Defend the Constitution and the separation of powers. Make them face the illegality of what he's proposing, instead of getting wrapped up in some ultimately meaningless moral debate.
Pelosi knows Biden can violate the authority of his office all he likes. It takes Congress and the DOJ to hold him accountable, both of which are controlled by the dems and they will refuse to hold Biden accountable.
All this does is prove that Congress makes sure themselves and their donors can benefit while allowing some of the peons (the rest of America) to reap some breadcrumbs.
Like people didn't know this already ?????
Look at those spending bills....barely a fraction actually goes to the action in the title.
Trillion dollar bills for X and then $20 billion directly towards X while the other $980 billion goes to "friends and family".
It's all smoke and mirrors. Biden's own admin was able to cite on TV how this bill was going to do a thing to lower inflation this year or next. But hey, you can save money on a wind farm or solar array, or even that $60,000 EV you want to buy.
Plenty of deep pockets donors to democrats will get filthy rich off the Inflation Reduction Act, but all of us will see inflation rise and at risk of losing our jobs.
Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va., on Wednesday unveiled a long-anticipated reconciliation package that would invest hundreds of billions of dollars to combat climate change and advance clean energy programs.
The 725-page piece of legislation, called the “Inflation Reduction Act of 2022,” provides $369 billion for climate and clean energy provisions, the most aggressive climate investment ever taken by Congress.
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