The Payroll Protection Plan shows the ineptness of Govt. and the fleecing of taxpayers

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I know many small businesses even some who have had a reduction in revenue and have furloughed people will take this money and divert the payroll money from their current employees and do capital expenditures to better their business, for free with my tax dollars.

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That’s called fraud.

Part of the application asks whether the current situation has hurt your ability to do business. If you check yes but are truly still operating like normal then that would be fraud.

I understand the desire to incorporate some sort of "need" into the application.

By doing that, we would have to accept two things:

1) It would slow down the process, create more work for companies and banks, which would mean the flow of funds would dramatically slow down.

2) Like the bailouts we saw in 08/09, it creates moral hazard. The government comes in and helps those who didn't save for a rainy day, while those who did what they were supposed to do don't get any help. It sends the message that you shouldn't do the right thing. It's the "privatize gains, socialize losses" thing.

If I was grand emperor, I would have made the interest rate 10 percent, not 1 percent, started repayment 3 months after funding, not 6 months, and accrued interest from day 1.

If you meet the payroll spending rules, you would not be impacted in the least by that change. But if you are using this program simply as a ways to build future capital, then you would be penalized for that, at a level that would probably cause people to not do it.