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Politics : Formerly About Advanced Micro Devices
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To: Mongo2116 who wrote (1344260)2/23/2022 5:32:21 PM
From: Broken_Clock  Read Replies (1) of 1578097
 
Tell it to Brandon...
the same guy that shoveled a Trillion dollars to wall st. last year.

The Times’ analysis found that only about 25% of the money went to businesses that would have otherwise lost it:

One new analysis found that only about a quarter of the money spent by the program paid wages that would have otherwise been lost, partly because the government steadily loosened the rules for how businesses could use the money as the pandemic dragged on.

The article wrote that “the looser rules meant the Paycheck Protection Program ended up subsidizing business owners more than their workers” and reported that “for every $1 in wages that [the PPP program] prevented from being lost, it handed out $3.13 that went somewhere else”.

And then, the coup de grâce:

Seventy-two percent of the program’s relief money ended up in the hands of those whose household income is in America’s top 20 percent.

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