The people who got the PPP Loan (and then forgiveness) didn't just keep all that money for themselves. They had to prove that it was used to keep employees on the payroll AND that they paid their employees during that period. Well, at least the ones who didn't commit massive f*cking fraud.

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Posted by AuburnTigers

Member since Aug 2013

6969 posts

Posted on 8/26/22 at 9:08 am to MMauler

quote:
The people who got the PPP Loan (and then forgiveness) didn't just keep all that money for themselves. They had to prove that it was used to keep employees on the payroll AND that they paid their employees during that period

So you got to use free money to pay your employees instead of out of pocket? Yeah, tap dance all you want, business owners received a huge windfall compared to the normal blue collar worker

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Posted by Texaggie96

Member since Dec 2018

1381 posts

Posted on 8/26/22 at 3:37 pm to MMauler

quote:
The people who got the PPP Loan (and then forgiveness) didn't just keep all that money for themselves. They had to prove that it was used to keep employees on the payroll AND that they paid their employees during that period. Well, at least the ones who didn't commit massive f*cking fraud.

Only 60% of it had to go to payroll expenses to get it forgiven (and that doesn't necessarily mean pay to employees). The other 40% they could simply pocket as revenue.

Personally I'm trying to get a job at this place:
County Agency Inc Brooklyn, NY 24 $10M Employment Placement Agencies

That's an average salary of 250,000 per year for a headhunter agency. Good thing we kept them all well fed during the crisis.

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