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Started By
Message
Rubio's Proposal Makes Sense.
Posted on 3/18/20 at 7:49 am
Posted on 3/18/20 at 7:49 am
Premise:
• The government ordered small businesses to temporarily shutdown in response to the virus.
* Small business cooperation "for the greater good" hurts the individual business.
• Businesses are forced to furlough or lay off employees.
• This not only impacts employee income, it disrupts contact and relationship with the employer.
• The greater the disruption, the slower the restart
• The slower the restart, the deeper the recession, the more businesses go under.
Rubio's proposal:
• Loan money to small businesses in an amount equal to 6 weeks payroll.
• Business can use the money as it sees fit.
• Money used to pay furloughed employees would be forgiven completely.
• Money used for other purposes would have to be repaid within a year, or it would incur interest in repayment.
• The program design maintains employer-employee integrity.
• The government ordered small businesses to temporarily shutdown in response to the virus.
* Small business cooperation "for the greater good" hurts the individual business.
• Businesses are forced to furlough or lay off employees.
• This not only impacts employee income, it disrupts contact and relationship with the employer.
• The greater the disruption, the slower the restart
• The slower the restart, the deeper the recession, the more businesses go under.
Rubio's proposal:
• Loan money to small businesses in an amount equal to 6 weeks payroll.
• Business can use the money as it sees fit.
• Money used to pay furloughed employees would be forgiven completely.
• Money used for other purposes would have to be repaid within a year, or it would incur interest in repayment.
• The program design maintains employer-employee integrity.
24
Posted on 3/18/20 at 7:52 am to NC_Tigah
What about big business where their employees are suffering?
Posted on 3/18/20 at 7:52 am to NC_Tigah
(no message)
This post was edited on 3/25/20 at 3:41 am
Posted on 3/18/20 at 7:52 am to NC_Tigah
Sounds good to me. It's better than sending everyone a $1k check whether they need it or not. Some people actually have needs while others are still working like normal and aren't facing any hardships other than having to work from home or bring their kids to work.
Posted on 3/18/20 at 7:53 am to Charm299
quote:
What about big business where their employees are suffering?
quote:
Money used to pay furloughed employees would be forgiven completely.
Posted on 3/18/20 at 7:55 am to NC_Tigah
quote:
• Money used for other purposes would have to be repaid within a year, or it would incur interest in repayment.
Needs bigger “incentive” to use money for payroll. Fines or jail time would do.
Posted on 3/18/20 at 7:58 am to lowhound
quote:
aren't facing any hardships
Is this a public health danger or not? If it is, the folks still going to work are facing some unknown monster virus that could kill their loved ones, damage their lungs, or land them in the hospital. Not saying they need a check but those sitting home doing nothing don’t have to face the “Chinese Flu”.
Posted on 3/18/20 at 7:58 am to Dawgfanman
What? His proposal is not specifically for payroll only. They are doing nothing wrong with other uses. So, what would be the reason for fines / jail?
Silliness
Silliness
Posted on 3/18/20 at 7:59 am to NC_Tigah
Wouldn't pass in Congress. There needs to be some pork attached to it...maybe funding for some research on a random fish in Idaho.
Posted on 3/18/20 at 7:59 am to NC_Tigah
It needs to be something like the BP oils spill fund.
Posted on 3/18/20 at 8:01 am to NC_Tigah
This proposal won’t address every employee- employer situation but it makes sense - so it may not pass in Congress.
Posted on 3/18/20 at 8:01 am to SlowFlowPro
It’s says small businesses not big businesses
Posted on 3/18/20 at 8:04 am to BlackHelicopterPilot
quote:
What? His proposal is not specifically for payroll only. They are doing nothing wrong with other uses. So, what would be the reason for fines / jail? Silliness
Did you read the premise, 60-80% was about maintaining employee/employer relationship aka payroll.
Posted on 3/18/20 at 8:04 am to NC_Tigah
quote:
The program design maintains employer-employee integrity
Well, that's the trick isn't it. As we are seeing, people are pretty much stupid.
Posted on 3/18/20 at 8:05 am to NC_Tigah
quote:This right here is the difference between government handouts, and the government responsibly remunerating the citizenry.
• The government ordered small businesses to temporarily shutdown in response to the virus.
The government is essentially “buying” that time/labor from private business. This is part of the interaction of which I wholeheartedly approve... now, it’s a totally different discussion as to whether or not the government should have purchased that time.
Posted on 3/18/20 at 8:05 am to Man4others
quote:
It needs to be something like the BP oils spill fund.
No it does not... That fund was fraught with the worst waste, fraud, and abuse that I have ever seen and it was all blatantly out in the open...
Posted on 3/18/20 at 8:08 am to NC_Tigah
what about people that are contracted, theyre just fricked? Should have thought about a possible virus epidemic when they decided to take that job?
ETA: I'm a small business owner btw
ETA: I'm a small business owner btw
This post was edited on 3/18/20 at 8:09 am
Posted on 3/18/20 at 8:10 am to Dawgfanman
quote:
Did you read the premise, 60-80% was about maintaining employee/employer relationship aka payroll.
Did you read the PROPOSAL?
*Businesses can use the money AS THEY SEE FIT
The idea is that IF for payroll, do not have to repay. If NOT, have to repay in a year...if NOT repaid in a year, pay interest.
There is no "violation"
Posted on 3/18/20 at 8:12 am to NC_Tigah
that makes way too much sense to ever happen. hope it does though.
Posted on 3/18/20 at 8:12 am to NC_Tigah
What about self-employed service businesses, I wonder? I’m curious about those wedding photographers and event photographers and planners and interior designers and other single-person businesses that are going to be shut down during the most profitable time of year due to government interference, but are still gonna have to pay their bills.
What are they gonna do, dip into their investments that are now worth 30-50% less than they were 2 weeks ago?
What are they gonna do, dip into their investments that are now worth 30-50% less than they were 2 weeks ago?
This post was edited on 3/18/20 at 8:14 am
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