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PPP loans were always supposed to be forgiven from the beginning. Nobody would have taken the loans otherwise. It was not really a loan it was a payroll subsidy
by readams 4y ago
PPP loans were always supposed to be forgiven from the beginning. Nobody would have taken the loans otherwise. It was not really a loan it was a payroll subsidy to keep the economy from collapsing.
Also, this was actually authorized by Congress and not declared by fiat in an enormous executive overreach.
- leshow 4y agoIf anything it's a good case of why "trickle down" economic policies don't work very well. Many businesses who got the loans still fired employees, the cost of each job saved was high.
- Scoundreller 4y agoYeah, just write every human a cheque and let the businesses that are already teetering on bankruptcy without anyone willing to rescue them go bankrupt.
- leshow 4y agoPretty flimsy strawman you've constructed there.
- Scoundreller 4y agoWe’re arguing for the same thing.
- robswc 4y ago>Many businesses who got the loans still fired employees, the cost of each job saved was high. Which businesses? We're also looking with hindsight bias. There's no way to see what would have happened if businesses weren't bailed out.