POLITICS The Biden Presidency

Discussion in 'Politicants' started by emainvol, Jan 20, 2021.

  1. droski

    droski Traffic Criminal

    well the second round you had to prove covid was responsible for a decrease in business. First one you just had to attest to it
     
  2. CardinalVol

    CardinalVol Uncultured, non-diverse mod

    PPP was a well-intended yet horribly executed plan.

    Round 2 was outright stupid.

    Still pales in comparison to the stupidity of the employee retention credits though.
     
  3. lumberjack4

    lumberjack4 Chieftain

    The fact that round 1 PPP went from announcement to dispersing cashing in 30 days is still amazing to me. It was a shit show, but there was no way it wasn't going to be. We were still at the stage of its better to overreact than do nothing. Rolling out a complex financial aid system essentially over night went about as well as anyone could expect.

    I do find it ironic that the same people on the left that says means testing government assistance costs more money than it saves are up in arms about the people who got PPP but didn't really need it.
     
  4. IP

    IP It's just business.

    Now we are in a spider man meme. The only reason it is being brought up is because the same exact individuals who were forgiven massive loans are complaining that people with far less than them are being forgiven 10k.
     
  5. CardinalVol

    CardinalVol Uncultured, non-diverse mod

    The fundamental difference though was that the PPP "loan" was basically a cash infusion that was never going to be treated as a loan if they did what was required.
     
  6. IP

    IP It's just business.

    Yes, we will give money away to one class of people as an infusion but will not invest in others.
     
  7. droski

    droski Traffic Criminal

    i still contend the second stimulus was one of the worst pieces of legislation we've even enacted. economy is strong, but lets throw more money at it for no reason.
     
  8. droski

    droski Traffic Criminal

    the intent was to help people bridge the gap and not have to lay off their workforce because of covid. the problem was only like 20% of people who got it used it for that purpose.
     
    justingroves likes this.
  9. CardinalVol

    CardinalVol Uncultured, non-diverse mod

    The entire point was to give the money to the employers to pay the employees, not just subsidize the owners.
     
  10. IP

    IP It's just business.

    Maybe we can give student loan payments to the employers, to give to the employees.
     
    utvol0427 likes this.
  11. CardinalVol

    CardinalVol Uncultured, non-diverse mod

    We probably should have just skipped the employers and sent money straight to population.
     
  12. CardinalVol

    CardinalVol Uncultured, non-diverse mod

    But alas, that would have left big banks out of the equation to make 5% fees on each "loan".
     
    justingroves likes this.
  13. CardinalVol

    CardinalVol Uncultured, non-diverse mod

    Again, until some fundamental issues of students loans are addressed, this is nothing more than a buy a vote campaign. This does zero to fix any problems.
     
  14. IP

    IP It's just business.

    It fixes some problems for some people. It certainly doesn't fix some of the fundamental problems.

    And it may be a shot across the bow with a full expectation of it being stopped by the courts.
     
  15. NorrisAlan

    NorrisAlan Founder of the Mike Honcho Fan Club

    Yep. That way that $40k ends up in the pockets of their 40 employees and not in their new house boat.
     
  16. CardinalVol

    CardinalVol Uncultured, non-diverse mod

    I guess I've got good law-abiding clients. The worst any of mine did was pay employees a 13th month and super funded a profit sharing plan that no owner participated in once they realized they didn't need the PPP money.
     
    NorrisAlan likes this.
  17. Volst53

    Volst53 Super Moderator

    It was a rough no win situation.
     
  18. Volst53

    Volst53 Super Moderator

    I think we need to bring back the CCC and massively overhaul environmental impact studies on projects. The average time I those studies is 4-5 years on public projects.

    More time than it took to actually build the Golden Gate Bridge and Hoover dam.

    If those needing loan relief assistance works for the CCC for a set time, they could then qualify for a percentage of loan forgiveness.
     
  19. lumberjack4

    lumberjack4 Chieftain

    That would gave given people a bunch of cash then they would have been unemployed. Probably just a different shit show at that point.
     
  20. droski

    droski Traffic Criminal

    yeah the problem was a bunch of these companies that needed it ended up still going under.
     

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