>Also, ignoring fraud, wouldn't the flow of capital for PPP be primarily to the lower rungs, not from them? The money was to keep paying hourly wage employees i

>Also, ignoring fraud, wouldn't the flow of capital for PPP be primarily to the lower rungs, not from them? The money was to keep paying hourly wage employees in factories and retail while the business was shut down, right? That's sort of the entire narrative here, though. In theory, you are correct. BUT - the "loans" being forgiven across the board is, essentially, removing the step where businesses prove that the money was used for what it was supposed to be used for. So, absent concrete proof, it is easy to speculate that this was just another wealth transfer to the top. Will we ever know? Probably not. But it's one more thing to throw onto the outrage bonfire for every side. It gives the left something to talk about (look at the wealth transfer to the rich). It give the right something to talk about (look at this gross overspend by the government). It gives the middle something to talk about (look at how smart we are knowing that this would happen). And it's all political theater. These are my opinions. Edit: that being said, look at the comments in this thread for literal arguments that are examples of every single point in that last paragraph.