Taxpayers bail out Tom Brady

[pknopp]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

 

[TNHarley]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use it for business expenses like rent, mortgage, utilities, payroll etc
Do I have to pay back my PPP loan? Here’s how to get your loan forgiven (womply.com)

 

[Juicin]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

 

[Juicin]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use it for business expenses like rent, mortgage, utilities, payroll etc
Do I have to pay back my PPP loan? Here’s how to get your loan forgiven (womply.com)

Yea but if it's denied then the bank has to pay it back

Which means the bank has skin the game

Which means it cna never be a hand out

The bank is trusting you're gonna deal with this shit, because if you don't it's their responsibility to come after you.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

 

[pknopp]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

 

[Lesh]

So, it is a loan, and it is to go to his employees.

If it goes to pay employees ( or possibly certain other uses like infrastructure uses including paying for leases) it does NOT have to be paid back.

If it or a portion of it does have to be paid back...it is at well below market rates

 

[Juicin]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement, even if they have no part in the debt, which is unclear.

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

 

[pknopp]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

 

[TNHarley]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

We have never been pure capitalist. And never will.

 

[Juicin]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

They already got paid dumbass

Now it's time to keep their profits high

Not waste money on tracking down retards who can't figure out how to deal with the state and their loan.

"huh see they got paid they have no other concerns"

Not how massive banks work, lol

Even assuming all they have to do is service the loans, they don't want to do that. They want the books closed ASAP. Which incentivizes them to tell people who they think will be a pain in the ass to **** off. And they'll just give it to some one they trust.

 

[pknopp]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

We have never been pure capitalist. And never will.

So there is nothing evil with programs that are socialist in nature like so many pretend.

 

[pknopp]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

They already got paid dumbass

Now it's time to keep their profits high

Not waste money on tracking down retards who can't figure out how to deal with the state and their loan.

"huh see they got paid they have no other concerns"

Not how massive banks work, lol

You didn't do anything to address my question but you felt a need to call me a name?

 

[Lesh]

We have never been pure capitalist. And never will.

You mean we are a socialist nation already?

Told ya so

 

[TNHarley]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

We have never been pure capitalist. And never will.

So there is nothing evil with programs that are socialist in nature like so many pretend.

Its regressive, so, yes.
Pure capitalism is actual progress. Not programs based off 12th century command economies.

 

[TNHarley]

We have never been pure capitalist. And never will.

You mean we are a socialist nation already?

Told ya so

No, we arent socialist. But its what many dumbfucks in this nation want.

 

[pknopp]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

We have never been pure capitalist. And never will.

So there is nothing evil with programs that are socialist in nature like so many pretend.

Its regressive, so, yes.
Pure capitalism is actual progress. Not programs based off 12th century command economies.

There will never be pure capitalism because it wouldn't work.

 

[pknopp]

We have never been pure capitalist. And never will.

You mean we are a socialist nation already?

Told ya so

No, we arent socialist. But its what many dumbfucks in this nation want.

Where in capitalism do we find the part where taxpayers are responsible for the costs of a persons business?

 

[TNHarley]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

We have never been pure capitalist. And never will.

So there is nothing evil with programs that are socialist in nature like so many pretend.

Its regressive, so, yes.
Pure capitalism is actual progress. Not programs based off 12th century command economies.

There will never be pure capitalism because it wouldn't work.

IKR? The govt giving business pure control of how they run, the govt cant devalue the dollar with an out of control FED, free trade etc would be so ******* detrimental, right?

 

[pknopp]

Payroll, mortgage or rent, overhead... no pay back is required.
But the little people? We got 1200 to keep our mouths shut about our jobs being shut down and going insane locked in our houses. Those people that got the free loans? They can spend their lockdowns on their yachts or in another country.
This is just another transfer of wealth at the little peoples expense.

WHy do people keep calling them free loans? They do have an obligation to pay them back lol

Not if they use them as the guidelines state. If you use it to operate your business daily then you don't pay it back. Buy a yacht with it and then you pay 1%.

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

They are on the hook

Which is why it isn't a handout.

Banks have skin in the game

It's a handout and it's not the banks money.

They are on the hook

If a PPP loan is not forgiven in full (including if there has been a reduction in the forgiveness amount for an EIDL advance), any remaining balance due on the PPP loan must be repaid by the borrower. The lender is responsible for notifying the borrower of the loan forgiveness amount remitted by SBA and the date on which the borrower’s first loan payment is due. The lender must continue to service the loan. The borrower must repay the remaining loan balance by the maturity date of the PPP loan (either two or five years). If a borrower is determined to have been ineligible for a PPP loan for any reason, SBA may seek repayment of the outstanding PPP loan balance or pursue other available remedies.

Servicing the loan is part of the agreement

They have skin in the game, which is why it was never going to go to the people who needed it most. Just can't happen when your intermediary is a bank who cares about profit.

Yes, they get paid by the taxpayers to forgive the loans. All in all though, where do we find this kind of stuff in capitalism models?

We have never been pure capitalist. And never will.

So there is nothing evil with programs that are socialist in nature like so many pretend.

Its regressive, so, yes.
Pure capitalism is actual progress. Not programs based off 12th century command economies.

There will never be pure capitalism because it wouldn't work.

IKR? The govt giving business pure control of how they run, the govt cant devalue the dollar with an out of control FED, free trade etc would be so ******* detrimental, right?

To those running the country yes it would be. They couldn't determine who could trade with who. The markets would collapse because it wasn't being propped up with the Federal Reserve.

I'm all for it. It's never going to happen. We are never going to go in that direction.

 

[TNHarley]

We have never been pure capitalist. And never will.

You mean we are a socialist nation already?

Told ya so

No, we arent socialist. But its what many dumbfucks in this nation want.

Where in capitalism do we find the part where taxpayers are responsible for the costs of a persons business?

That doesnt mean we are socialist. Thats silly to even think that.
Lets stop the hyperbole (or complete ignorance) and look at what socialism actually is : a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
We obviously arent there but we are getting there. Every day, more fo our freedoms and liberties are being stripped away because our lazy population cant wipe their own ass.
“When the people find that they can vote themselves money that will herald the end of the republic.”

― Benjamin Franklin