Quote:
Originally Posted by nfotiu
Yeah. It's been hashed out in this thread. They were basically grants given with conditions that you that you kept your employees on the payroll, or you had to pay it back if you didn't.
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It actually really hasn't been, because there has been almost no oversight of the program to determine its efficacy. What oversight has been done has uncovered a ton of abuses. The PPP loan program was used and abused as a huge giveaway. Bottom line, it was tax payers giving money to businesses to keep them open and people getting paid, but the reality is that only a quarter of the money from the program went to employees, the rest
(75%) went to business owners as profit or returns to shareholders. The program was a giveaway of money to those who already had it, not to those who needed it. To suggest this was executed the way the program was designed is just wrong. The people who were hurting continued to hurt. The people who were making money hand over fist received the greatest benefit, just like it did with the
CARES program. If there is one thing we can count on, any government program proposed by the Republicans is certain to benefit those who already have the money and penalize those who have no money to give.