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re: Biden announces businesses owned by minorities will receive relief priority over whites
Posted on 1/10/21 at 9:00 pm to texridder
Posted on 1/10/21 at 9:00 pm to texridder
quote:that doesn't prove the program is less accessible to people of color.
Based on how the program is structured, we estimate that upwards of 90% of businesses owned by people of color have been, or will likely be, shut out of the Paycheck Protection Program,
1) what percent of white business owners were shut out of ppp program?
2) is this adjusted for TYPES of business owned by race? If whites are more likely to own the types of businesses that were shut down, then we would expect discrepancy.
1
Posted on 1/10/21 at 9:02 pm to TigerBlitz03
quote:sorry that I support the constitution and don't want govt engaging in racial discrimination.
TigerBlitz03
Posted on 1/10/21 at 9:19 pm to WaWaWeeWa
quote:
The thread is about Joe Biden’s tweet.
He picked (probably not because he’s brain dead) that sentence to tweet. It’s not taken out of context, so we don’t need any additional information.
OK. So here's the whole of Biden's tweet:
quote:
Our priority will be Black, Latino, Asian, and Native American owned small businesses, women-owned businesses, and finally having equal access to resources needed to reopen and rebuild .
So if minorities were excluded, for whatever reasons, from participating in the first BBB program, that's relevant to Biden's tweet.
Posted on 1/10/21 at 9:22 pm to texridder
quote:
Based on how the program is structured, we estimate that upwards of 90% of businesses owned by people of color have been, or will likely be, shut out of the Paycheck Protection Program,
That's utter bullshite. Nowhere on the PPP application does it ask for race. Nowhere.
You went to your banks website... you filled out the application... it's basically rubber-stamped if you fill the thing out right... you get your money.
The only way you would be shut out is if you didn't utilize a bank. And if you don't utilize a bank... well... your too stupid to own a business in the first place.
This post was edited on 1/10/21 at 9:23 pm
Posted on 1/10/21 at 9:24 pm to texridder
Excluded lol you truly are brain damaged.
Posted on 1/10/21 at 9:24 pm to HailHailtoMichigan!
quote:
Based on how the program is structured, we estimate that upwards of 90% of businesses owned by people of color have been, or will likely be, shut out of the Paycheck Protection Program,
that doesn't prove the program is less accessible to people of color.
1) what percent of white business owners were shut out of ppp program?
I'll go out on a limb and say that the percentage of white business owners is less than 90%.
Thank you for your useless post.
Posted on 1/10/21 at 9:27 pm to Kattail
quote:
How ya like that white people (Dims)
The true soy suckers will love it. They are like monks of the Middle Ages that believed self flagellation was the way to repent and ultimately gain access to heaven.
This post was edited on 1/10/21 at 9:28 pm
Posted on 1/10/21 at 9:27 pm to NIH
quote:
Do you think banks are intentionally racist? Yes or no?
The article said that banks would make loans to their existing clients, which doesn't indicate racism.
Posted on 1/10/21 at 9:29 pm to texridder
quote:
So if minorities were excluded, for whatever reasons, from participating in the first BBB program, that's relevant to Biden's tweet.
Thank you for highlighting the separate statement starting with “finally”
I’m glad you agree it’s a separate statement from the first.
Posted on 1/10/21 at 9:30 pm to texridder
quote:
The article said that banks would make loans to their existing clients, which doesn't indicate racism.
Banks. That's the problem. Many businesses of color that they are speaking of don't use traditional banks for whatever reason and therefore they won't have access to PPP funding. Biden and Harris will likely allow other... less traditional... financial institutions to access the PPP program. Don't be surprised if your local check cashing or payday loan place suddenly starts making PPP loans.
Posted on 1/10/21 at 9:31 pm to VADawg
quote:
Considering their side wants to rip up the Constitution and rewrite it,
Will the lefties still deny the agenda?
Posted on 1/10/21 at 9:34 pm to texridder
Liberals never fricking learn. They never understand the unintended consequences of their racist policies. They can’t look past 2 inches in front of their face.
Is whatever Sleepy is planning the best decision for the economy? If not, then ultimately more people will suffer and more people of color will suffer if they don’t make the best decision for the economy and not someone’s skin color.
Is whatever Sleepy is planning the best decision for the economy? If not, then ultimately more people will suffer and more people of color will suffer if they don’t make the best decision for the economy and not someone’s skin color.
Posted on 1/10/21 at 9:36 pm to texridder
quote:
So if minorities were excluded,
Are you saying these were purposely excluded?
This post was edited on 1/10/21 at 9:37 pm
Posted on 1/10/21 at 9:36 pm to SSpaniel
quote:
Banks. That's the problem. Many businesses of color that they are speaking of don't use traditional banks for whatever reason and therefore they won't have access to PPP funding. Biden and Harris will likely allow other... less traditional... financial institutions to access the PPP program. Don't be surprised if your local check cashing or payday loan place suddenly starts making PPP loans.
Ok so no white people ever use these institutions?
Why not just say “we have identified that a lot of businesses that don’t use traditional banks so we are opening the program up to other institutions”
Why? Because that’s not enough virtue signaling for the brain dead morons. They have to make an openly racist statement that ostracized half the country.
This post was edited on 1/10/21 at 9:37 pm
Posted on 1/10/21 at 9:40 pm to WaWaWeeWa
quote:
Why not just say “we have identified that a lot of businesses that don’t use traditional banks so we are opening the program up to other institutions”
No... what they should say is
"we have identified that a lot of businesses don't use traditional banks, so we are going to help them set up bank accounts at a bank of their choosing."
They have to have a place to electronically deposit the PPP funds. They ain't gonna come rolling up in a Brinks truck.
This post was edited on 1/10/21 at 9:41 pm
Posted on 1/10/21 at 9:40 pm to SSpaniel
quote:
The only way you would be shut out is if you didn't utilize a bank.
quote:
And if you don't utilize a bank... well... your too stupid to own a business in the first place.
Too stupid or cheating the government out of sales tax revenue by not having a paper trail of deposit slips.
This post was edited on 1/10/21 at 9:41 pm
Posted on 1/10/21 at 9:49 pm to texridder
You fail to understand why most of the minority business owners were not allowed access to the PPP.
Why is it that business owned by people of color are less likely to have commercial banking relationships? Me thinks we know the answer but you are being obtuse about it.
quote:
One obstacle for minority business owners is that many banks participating in the low-interest, forgivable loan program are only issuing loans to existing clients to speed up the approval process that grants access to the money. Businesses owned by people of color are less likely to have commercial banking relationships, Harrington said.
Why is it that business owned by people of color are less likely to have commercial banking relationships? Me thinks we know the answer but you are being obtuse about it.
Posted on 1/10/21 at 9:51 pm to ABearsFanNMS
quote:
Why is it that business owned by people of color are less likely to have commercial banking relationships?
Commercial banking not interested in weave stores or taco trucks.
Posted on 1/10/21 at 9:52 pm to Tdot_RiverDawg
quote:
Well yeah how do you think they're going to get even for slavery?
Oh, guess you haven’t heard but they already have HR 40 ready to go to committee. It is a reparations bill.....
Posted on 1/10/21 at 9:54 pm to Bulldogblitz
quote:
Commercial banking not interested in weave stores or taco trucks.
Meh... go into a bank with your SS4, Articles of Incorporation, Secretary of State registration and Corporate minutes allowing you to open a bank account, and they'll open a bank account for you.
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