Quote:
Originally Posted by nfotiu
It's a complicated and nuanced argument. You say "75% went to business owners as profit or returns to shareholders", I can show you a dozen local restaurants and other small businesses who used that 75% to pay their lease , mortgage payments or other accounts payable. Those businesses are up and thriving now and employing 50-100 people, and would have likely gone under without help.
I can accept there was probably a lot of abuse of the PPP, but I'd argue it was one of the better programs for quickly targeting the money to the people most hurt by the covid shutdowns. I, personally, would not shame any of them for taking the money if they kept paying their employees and are still paying people now.
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The PPP loans are being brought up against people saying handouts are bad yet are ones who took part themselves. The hypocrisy is ripe but typical for those people.