I’m a small business owner and know 3 people who got PPP loans. None of those 3 kept the staff employed that they were supposed to with that loan. There was zero oversight. Fucking Tom Brady, Kanye West, and Joel Osteen got a collective $7+ million in PPP loans. The system is broken and the pandemic is clearly showing the “representative democracy” we live in is a sham. Politics is a place for the rich to make laws that steal from the poor. As a counterpoint, the company I work for got a six-figure PPP loan to retain every employee at full pay, which converted to a grant as a result.
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Very good point. This did help my company as well. Unfortunately, we still had to lay people off (whether or not that was justified or not, I’m not sure) but it did help float payroll for about two months when business was not on the upswing. I’ll also say our company used PPP and was able to keep everyone on payroll so far however my issue is we are a small company of 30. What happens in these moments of the financial crisis is big companies get lots of help, small companies get nothing in comparison, and then when we go out of business, large companies buy those small businesses at a discount gaining customer
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