Biden overstepped his authority and SC stopped loan forgiveness

[Luvnit2]

(06-30-2023, 08:36 PM)Nately120 Wrote: Why should I pay for people to stay in business?  If you can't hack it without the government forcing taxpayers to keep you in business, you need to go work for someone else. 


FUN SIDE NOTE:  Tom Brady was given $960,855 via a PPP loan to keep his TB12 business afloat.  You can't even get upset when stuff is this one-sided. Amazing that a man with so little work ethic that he'd accept a handout from the government managed to win 7 SBs.

It is scary that you don't understand businesses provide jobs. In my case, I had over 250 employees at the time, I did not qualify, but due to my due diligence over the years, I kept every employee and as a result lost over $200,000 in 2020. Then lost $100,000 in 2021 as my business rebounded. I missed the 20% threshold in any given quarter, my sales were only down 18% (for 17 months). I did have 2 quarters down 19%, but again missed the threshold. I could have lost a lot less money, I could have cut my workforce by 20% or laid off 50 people. I chose to lose money. I had people that had worked for me for over 20 years, no way was I going to lay them off during Covid.

Covid cost me a lot of money, but I made sure my employees did lose pay of benefits. Unfortunately, not all business owners had that type of nest egg kept in their business so they did go bankrupt. It was not only them that lost, it was the employees that work for them. If you and others don't understand businesses create jobs, but yes to stay in business they need to be able to make the weekly payroll and pay the bank (debt).