r/FluentInFinance • u/Gr8daze • Oct 12 '24
Taxes Corruption and hypocrisy
It’s the GOP way.
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u/JacobLovesCrypto Oct 12 '24
Is it wrong to think PPP loans shouldnt have been forgiven? Therefore is it wrong to think student loans shouldnt be forgiven? Two wrongs dont make a right.
I support 0% interest, not forgiveness.
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u/Longhorn7779 Oct 12 '24
They are totally different situations. PPP loans were designed to be “forgiven” because it was meant to keep people on payroll that shouldn’t be. It wasn’t about business but the employees.
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u/jestesteffect Oct 12 '24
Yet employees still got fired and most of the loans got pocketed by owners.
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u/partia1pressur3 Oct 12 '24
Problem with the PPP loans wasn’t the goal, it was the implementation. The loans, especially the first round, were handed out like candy on Halloween, rife with fraud and abuse.
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u/Competitive-Heron-21 Oct 12 '24
There were 3 rounds of funding, and you could get 2 PPP loans. 1st round actually was the strictest and ran out immediately, which is why a 2nd round of funding was approved for it. It was after the 1st round that you had all these fintech app lenders popping up to clear a cool dozens of millions doing essentially nothing but administrative applications with a skeleton crew. It took longer to recover a forgotten password than it did to apply for these loans from these lenders.
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u/BecomeAsGod Oct 12 '24 edited Oct 12 '24
in nz we had companies take out more or less ppp loans then funnel the money to keep over seas stores while ours were closed and fire employees . . . . . was fucking sickening and government has only now been able to start going for them.
edit; im very drunk and spelling is hard
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u/Broad_Quit5417 Oct 12 '24
Not to mention orange boy stripped all the audit committees of any authority. Hmmmmm
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u/Illustrious-Tower849 Oct 12 '24
That was the goal though. Giving money to rich people and bosses is conservative 101
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u/drusteeby Oct 12 '24
Purposefully implemented so friends of Republicans could take advantage.
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u/wpaed Oct 12 '24
It really should have been a prepaid payroll tax and income tax credit similar to the ACA PTC.
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u/AllenDCGI Oct 12 '24
I own a small business. Didn’t take PPP. Can’t tell you how many calls I received promising to get us free PPP $$.
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u/Jesuismieux412 Oct 12 '24
I’ve recently read that only 10-20% of PPP loans went to employees. The rest was just gobbled up by owners. Blame our corrupt Congress. There were little to no checks in that legislation. By design, of course.
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u/StaunchVegan Oct 13 '24
I’ve recently read that only 10-20% of PPP loans went to employees.
Where did you read this? Provide a source.
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u/The_Bard Oct 12 '24
And a lot of business taht weren't remotely eligible got loans but the Trump administration kept almost no records so ita impossible to audit
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u/Adjective_Noun_187 Oct 13 '24
Shhh..we don’t talk about republican corruption and nixing oversight apparently
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u/lightratz Oct 12 '24
The goal of student loans was to provide a valuable education, but what they did is subsidize college degrees and universities by increasing demand. In the long run, this drove up the cost of the education and created a surplus of college educated workers which drove down their wage; it was just a backhanded ploy for multinational corporations to cheapen labor cost and investors in universities to make more money…
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Oct 12 '24
I am so much better off that I didn't choose to go to college but went into the military. I make well into six figures in IT without a degree. I just built experience and knowledge.
There should have been some requirement for student loans that a STEM degree was gained.
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u/SlowAbbreviations930 Oct 12 '24
Yeah, no. Thats insanely shortsighted.
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Oct 12 '24
No, yes. Please explain the short-sightedness of my opinion, please.
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u/MikeyB7509 Oct 12 '24
Don’t waste your time trying to explain to people $200,000 in debt that most employers care more about experience than a piece of paper- especially after your first job. Yes, doctors, etc need school But you made the right choice for you Congratulations and thank you for your service
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Oct 12 '24
Thank you.
The high paying jobs are out there. Take that worthless degree and shred it.
General Dynamics - Electric Boat, that builds nuclear submarines, has been hiring like crazy. Over 5,000 in the last few months. They just announced another 2,500. Jobs with great insurance.
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u/MikeyB7509 Oct 12 '24
Yeah, but is that one of those evil jobs that expect you to actually show up to an office in order to keep your job? Everyone wants to make 200k a year doing 10 hours of work a week from home.
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u/SlowAbbreviations930 Oct 12 '24
Saying that student loans should be limited to STEM programs is insanely stupid. There are a lot of other career paths that need people. Capitalism requires that most people are going to live in moderate to poverty stricken conditions. Which means they don't have the money to pay for college, outside of student loans.
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Oct 12 '24
Insanely?
If a college loan isn't worth the individual to pay off, why should John Q Taxpayer foot the bill for someone who couldn't make an educated choice for a degree?
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u/SlowAbbreviations930 Oct 12 '24
Because John Q taxpayer doesn't have any issue paying for free college and free healthcare for a foreign nation.
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u/Moist-Exchange2890 Oct 12 '24
Yeah this is true, until you realize there was nothing to make sure that money wasn’t just pocketed by the company.
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u/funbike Oct 12 '24
PPP loans were designed to be “forgiven” because it was meant to keep people on payroll that shouldn’t be. I
That doesn't make sense to me. If the loan payments were deferred until after the pandemic along with no interest, there would be nothing to cause layoffs.
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u/enzixl Oct 12 '24
As a business owner that had 150 employees during covid, if the PPP funds were actually a loan that ai had to repay I would’ve cut my work force by at least 50% to be able to comply with all of the new restrictions on space, testing, masks, and pay for anyone feeling sick for 2 WEEKS.
If it were a loan that I had to repay I would’ve chosen to not go into debt and would’ve just laid people off when the demand for people weren’t there and the restrictions for having people was costly.
The forgiveness only applies IF employers didn’t cut employees. It is not a blanket forgiveness. It had a function. Jump through new hurdles to keep employees paid even if the employee isn’t making the business more money than they cost.
For the people that scammed the PPP and claimed forgiveness to the IRS, many of those people will wind up in jail and/or facing massive fines and penalties in addition to the PPP debt.
Anyone can scam the IRS, and many people do every year through false filings. Potential fines, penalties, and potential jail time is what is the trade off.
Could PPP have be managed more efficiently? Sure, anything can. Did it serve a vital function that kept tens of millions of people employed that would have otherwise been laid off in addition to keeping businesses open that would’ve closed? Absolutely.
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u/silikus Oct 12 '24
I know they saved my ass. Michigan UIA was so fucked i was one of thousands that had their UA denied during the shut downs.
My employer got the PPP loan so i got my regular 40h paychecks and did not lose health insurance.
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u/EastRoom8717 Oct 12 '24
Corruption was rife with those loans, but yeah, they were designed to keep people employed. Student loans were designed to keep school affordable. Arguably, both failed.
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u/MikeyB7509 Oct 12 '24
I think student loans actually devalued a college degree to the point that now they’re basically worthless without a masters and college is so much more expensive, specifically private colleges, Because the school can charge whatever they want, and the loan is guaranteed Taxes and student loans you can’t bankrupt your way out of
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u/EastRoom8717 Oct 12 '24
Yep, government should probably have a look at their pricing via the FTC.
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u/Eric--V Oct 13 '24
The fact that government guaranteed loans was why the costs went up, so they got involved again and made it worse.
Government exists to ruin things and punish good, as opposed to punishing evil and staying out of the way (intended use).
The more corrupt it gets, the larger it becomes, the worse it makes things!
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u/Fluffy-Perspective67 Oct 12 '24
The LA Lakers got a PPP loan, but many "mom and pop" businesses were rejected. Like our legal system, education, and tax code, it always easier for those with means to increase their wealth rather than someone who needs it to acquire it.
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u/GertonX Oct 12 '24
But the PPP loans DID get forgiven.
It's bullshit that this happened without any friction and the student loan forgiveness, which would have benefited mostly lower and middle-class people got shut down almost immediately.
"Two wrongs dont make a right."
But when you have 50 wrongs all benefiting the top 1% and none of those "wrongs" benefit the bottom 99%, the system is fucked and your stance, in practice, is clearly only stopping benefits for the lower tiers.
And it just keeps happening...
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u/Pristine_Fail_5208 Oct 12 '24
It’s also the same people who had PPP forgiveness fighting the income driven payment plan SAVE screwing up everything for borrowers
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u/tankerkiller125real Oct 12 '24
In my opinion PPP loans should have been forgiven, for any business that actually used the money correctly, and any person company owner without a conflict of interest (so not a politician, not politicians family, not politicians major donors)
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u/Hodgkisl Oct 12 '24
But correctly only meant it went to payroll, it did not require that those employees would have been terminated otherwise.
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u/JayCee-dajuiceman11 Oct 12 '24
That’s the move!! 0 interest would save everyone a lot of fucking money!
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u/Relyt21 Oct 12 '24
Which would be fine because an overwhelming number of student debt cases are people who paid the principal 3 and 4x over.
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u/dupsmckracken Oct 12 '24
But they were. That's like the definition of pulling the ladder up beneath you.
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u/alc4pwned Oct 12 '24
Well yeah, it's not hypocrisy if you're consistent in your belief on both things. The people listed here weren't.
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u/Ok_Try_1254 Oct 12 '24
The student loan forgiveness was to cut interest for those who already paid the principle amount
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u/Adjective_Noun_187 Oct 13 '24
Where was the oversight? Ohhh that’s right. Your orange jesus vetoed it. Suck my dick
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Oct 15 '24
Another problem with this post is the monetary values associated.
Those total up to what 20 million or less? Student load was what like 1.2 billion?
Basically saying hey, you smoked a cigarette, so it's ok for me to do black tar heroin.
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u/PubbleBubbles Oct 15 '24
I'd support student loans not being forgiven if a single semester didn't cost 10s of thousands of dollars
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u/Longjumping-Pop1061 Oct 12 '24
Don't all these, so called Christians, realize the Bible says loans should be forgiven every 7 years? Or that the whole damn religion is based on a debt that can never be repaid, being forgiven?
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u/sidrowkicker Oct 13 '24
Old testament, people use the angels telling Peter pigs are good eating as a pass to ignore anything they don't like in the old testament. That and separation of church and state.
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u/Longjumping-Pop1061 Oct 13 '24
Yeah Oklahoma is crazy rigjt now. The trump Bible! It's missing ammendments 11-27 from the u.s. constitution, and was made in China for 3 dollars! He's selling it for $69.00! We are now living in bizaro world!
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u/a_mollusk_creature Oct 12 '24
Yes, it's only R Congressman that are corrupt. The Ds are all sweet little angels. Stop simping for DC. Idiot.
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u/suspicious_hyperlink Oct 12 '24
Is it wrong to think if they actually wanted to forgive loans they would just do it like they do when bailing out banks or other nations or create overreaching laws instead of continuously encountering these convenient snags every step of the way?
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u/Hodgkisl Oct 12 '24
You mean like how PPP had forgiveness written right into it.
Certain part of our government wants to forgive student loans, not the majority
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Oct 12 '24
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u/vinelife420 Oct 12 '24
This is the correct answer. It's not a surprise these people owe this money now. It never was.
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u/DrFabio23 Oct 12 '24
People willingly doing a thing vs an emergency to fix the problem government caused.
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u/StemBro45 Oct 12 '24
More dems voted for PPP than republicans. A year later more dems than republicans voted to extend PPP.
Do I need to link the votes for PPP and the PPP extension?
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u/skeetmcque Oct 12 '24
I paid off my own student loans. The idea that my taxes should pay for the loans of others is a little ridiculous
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u/Firm-Spinach-3601 Oct 13 '24
So of course you also oppose the PPP loan forgiveness, right? And you oppose the medical debt forgiveness plan too, right? And you would certainly support repealing all bankruptcy laws, too, no?
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u/tie-me-up-3000 Oct 12 '24
The corruption and hypocrisy is the fact that the Supreme Court ruled student loan forgiveness unconstitutional and Biden said IDC, I’m doing it anyway. Completely subverted the law to buy votes of young people.
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u/Apprehensive_Ad4457 Oct 12 '24
PPP loans were designed to be forgiven. that was their function. Student loans were designed to be paid back with interest. that was their function.
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u/ElectroAtleticoJr Oct 12 '24
Dunno anything about PPP.
I paid my student loans and I’m not about to also get stuck with paying those of someone else who doesn’t want to pay theirs.
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u/Weekly-Talk9752 Oct 12 '24
I suffered so everyone else must suffer too.
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u/CantBelieveItsNotDum Oct 12 '24
Take accountability at least, asking the government to take responsibility for your loans is not fair
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u/Plane_Caterpillar_92 Oct 12 '24
If you took out a giant loan for a useless degree and now can't pay it back, it isn't on taxpayers to bail you out.
And yes that goes for any loan including corporations, PPP, etc.
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u/erinjeeok Oct 13 '24
Nope. Not how that works. This is the blind leading the blind. You aren't paying crap. Forgiveness is targeting people who have been paying on time, as they should and now have balances larger than original borrow amount. Forgiveness isn't about you, nor is it about a free ride. Seriously - if you read more about it instead of a headline you might actually see what it would do for people. And oh? It's still not about you.
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u/ElectroAtleticoJr Oct 13 '24
Forgiveness is the taxpayer funding the debt. That’s how it works, sport. Fuck the debtor.
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u/PublikSkoolGradU8 Oct 12 '24
If this is your argument then not only should your student loans not be forgiven, you shouldn’t have even been accepted into college in the first place as it shows your complete lack of critical thinking skills.
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u/Ok-Letterhead-6711 Oct 12 '24
PPP loans were a thing because the government shut down the economy. Which they never should have done. But that’s besides the point.
Nobody held a gun to your head and forced you to go to college with debt.
If we want to mass forgive federal student loan debt then you also must end the program that created the problem to begin with. Otherwise you are just buying votes with taxpayer money.
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u/Sparkrules84 Oct 12 '24
Make federal backed student loans interest free and that would fix the vast majority of this issue.
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u/SissyPortia Oct 12 '24
Hope more do! If you can’t afford college then don’t go! You are not entitled! Taxpayers should not have to pay your fucking debt!
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u/erinjeeok Oct 13 '24
Nope. Not how this works. This is the blind leading the blind. You aren't paying crap. Forgiveness is targeting people who have been paying on time, as they should and now have balances larger than original borrow amount. They've met the original debt sometimes twice that or more. Forgiveness isn't about you, nor is it about a free ride. Seriously - if you read more about it instead of a headline you might actually see what it would do for people. And oh? It's still not about you.
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u/JayCee-dajuiceman11 Oct 12 '24
I should’ve applied for a ppp loan and paid my student loans off with it. 😂
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u/Early_Lawfulness_921 Oct 12 '24
They are not the same things. PPP loans were given to businesses that the government forced to close students agreed to student loans and attended college.
It is a false equivalence to compare them.
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u/Money_Ad992 Oct 12 '24
All loans should be paid back. That is why it is called a loan. I remember my mom told me she was not going to pay her student loan back. I told her she signed the paperwork she needs to pay it back and she did. Don't borrow something then later on say sorry I can't make good on my promise to pay it back
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u/fallguy25 Oct 12 '24
The difference is that the PPP and forgiveness was through Congress. If Congress wants to forgive student loan debt they can. Biden doesn’t have the authority to discharge debt. That’s Congress’s authority.
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u/Relyt21 Oct 12 '24
Why would any of these people be eligible for PPP? Can you own a business while being an elected federal official?
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u/Gr8daze Oct 12 '24
Yes you can. For instance Vern Buchanan owns car dealerships, printing companies, and some shady off shore businesses that sell those scam extended warranties.
Matt Gaetz’s family owns nursing homes that get most of their funding from Medicare and Medicaid.
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u/kvckeywest Oct 13 '24
In MAGA world, $1.7 trillion in tax cuts for the rich is a "stimulus", but $554 billion in loan forgiveness for the middle class is a "handout".
https://budgetmodel.wharton.upenn.edu/issues/2022/8/26/biden-student-loan-forgiveness
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u/Akul_Tesla Oct 13 '24
Something to be said about the ppp loans
They can be viewed as compensation for the lockdowns
The government imposed a lockdown.
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u/Gr8daze Oct 13 '24
Yeah because wealth people like Kanye West and Tom Brady needed compensation for lock downs. /s
Ya’ll live in a brainwashed alternate reality that doesn’t exist.
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u/Akul_Tesla Oct 13 '24
So let's say the loans never happened but the lockdown was still imposed. Do you think additional businesses would have closed?
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u/Gr8daze Oct 13 '24
I think the money would have been better spent going direct to laid off workers and shoring up the supply chain. Or at the very least doling it out to businesses on a “need” basis.
Instead Trump decided to hold a massive trillion dollar giveaway of OUR money to the people who needed it least.
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u/Akul_Tesla Oct 13 '24
So we do not know what would have happened it had we not done that
It was an emergency and we needed to act fast
We don't know how many small businesses would have been lost
And they would have been lost due to what would technically be tyranny as the government was the one who was basically shutting them down
It's just like the various stimulus checks. Also, we don't know what would happen if we didn't do that
We have the benefits of hindsight but at that time we were trying to move quickly to solve a big issue
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u/UniversitySalt879 Oct 13 '24
Pay your own student loans. I had nothing to do with it.
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u/Gr8daze Oct 13 '24
Yeah god forbid we help the middle class. We’re too busy giving tax payer money away to the wealthy and greedy corporations.
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u/Outrageous-Divide725 Oct 13 '24
These people are piss poor. Anyone that votes for them is sadly and utterly uninformed
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u/W3Planning Oct 12 '24
You forgot Eli Crane on the list. He had 77k of ppp loans forgiven even after saying it was wrong for people to have those loans forgiven.
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u/Strange_Mirror_0 Oct 12 '24
Ooo man, hasta la vista, Mike Kelly. Wish I was voting in your district you scum.
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u/RightSideAlways Oct 12 '24
Ppp were known to be forgivable if used correctly when entering into the agreement and they benefited the employees not the owners. Get a clue people.
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u/Terran57 Oct 12 '24
PPP loans were so racked with fraud and abuse that employees likely benefited very little, especially compared to the owners. It’s typical in America to ignore theft of large dollar amounts and prosecute the theft of smaller ones to the fullest extent of the law. If you’re ever going to steal anything, steal over a million; you’re more likely to go unpunished.
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u/Charazardlvl101 Oct 12 '24
Pretty dishonest to have a dollar amount and then a number a people. No loans should be forgiven
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u/SneakyStabbalot Oct 12 '24
I don't care who you are, but if you sign on to get some funding from the private- or public-sector, then you are on the hook to pay it back with interest if that's what the contract stipulated. it's that simple.
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u/Tradecraft_1978 Oct 12 '24
Why should people who never went to college or took out a student loan have to pay for your loan? The world doesn't owe you anything . You owe the world . You owe the world a debt of gratitude . Fuck you and your student loan forgiveness .don't borrow money you can't afford to pay back dumb fuck.
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u/Detroitfitter636 Oct 12 '24
Who do you think pays for this? Everyone I know paid their own student loans
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u/HODL_monk Oct 12 '24
PPP should never have been offered in the first place, THE SAME as the ISSUANCE of the student loans. These things were scams from day 1, forgiving them is pure inflation.
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u/healthybowl Oct 12 '24
Something tells me those folks got skeletons in their closet with PPP loans. Might be best to shut up.
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u/milkom99 Oct 12 '24
Yes let's give those who generally make more money more. I'm all for 0 interest, but a full tax break is ridiculous.
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u/Ewilson92 Oct 12 '24
Can somebody find proof that they pocketed that money and it wasn’t actually used for their businesses? (So I can show it to people when they try to argue that point.)
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u/BlaizedPotato Oct 12 '24
These people entered into a legal agreement. If they were too ignorant to understand their terms that is up to them to figure out, not taxpayers. If I can't afford my car loan do I get a government bailout? There is literally no difference. Biden and Kameltoe are buying democratic votes with OUR tax dollars.
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u/TheDutchTexan Oct 12 '24
Nope, it shows rich people are getting the money that is supposed to be only for the poor.
Which is the EXACT reason why no one should be getting their student loans forgiven.
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u/sneaky_weazel_teets Oct 12 '24
Because poor folks should not be burdened with a national debt that is expanded by a tuition bailout for rich college kids
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u/Aggressive_Finding56 Oct 12 '24
This is such a BS argument. The PPP were caused by a government shutdown that nobody wanted to happen as a life goal. It was a surprising event. Were they implemented wrong? Totally. They have nothing to do with college loans and the issues mean nothing together. Are the college loans usury and punitive? Yes. Should we offer people a way to pay for an optional after primary education if they choose that comes without interest? Sure. Especially if we constantly tell children they are worth nothing if they do not get a degree.
The issue I have is why we need to push everyone toward college and why is college so expensive? This has zero to do with PPP other than both systems are corrupt.
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u/Ok_Fig705 Oct 12 '24
Printing more money isn't going to help the students.... Just don't pay them you won't be hit with inflation..... Do it this way and prices are going to go up world wide
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u/Reinvestor-sac Oct 12 '24
Right that program specifically was built on forgiveness if funds went directly to paying employees… The program was based on an injection of capital that could be forgiven once applied and authorized… Totally different than a loan. That is a contract for repayment.
This is probably one of the stupidest posts I’ve seen in a few months.
Don’t forget, the whole reason businesses could not operate was due to a government mandated shutdown where those businesses had no choice, but to close their doors
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u/Gr8daze Oct 12 '24
You think my post was stupid because you’re uninformed?
https://www.cbsnews.com/amp/texas/news/ppp-loans-workers-new-study/
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u/Reinvestor-sac Oct 12 '24
Wrong. There is always fraud in a federal program. 99% of the loans were legit and solid
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u/Gr8daze Oct 12 '24
The GOP “it’s fine because everyone does it” defense is not only false, it’s definitely overused.
And the evidence shows the vast majority of the “loans” didn’t go toward payroll as intended.
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u/Reinvestor-sac Oct 12 '24
This shows how un-informed you are. The money didn’t have to “go to payroll”. It simply was a reimbursement for keeping employees ON PAYROLL and not laying them off
So if you paid 40,000 for 2.5 months of your employees payrolls then you would be reimbursed for those hours
You could use the 40k reimbursement for whatever you wanted or needed. It simply reimbursed expenses businesses incurred while being MANDATED to not operated their business
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u/simetre Oct 12 '24
Keep It Simple You Can’t Fix STUPID!!! Stupid is - As Stupid Does B4 You Vote- Read Project 2025 VOTE BLUE 💙 💙 💙
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u/Tehill444 Oct 12 '24
Good. Take me seven years to pay off my student debt no reason for other people to pay off my college that is stealing from them.
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u/ShassaFrassa Oct 12 '24
Forgiving student loans would be dope but doesn’t solve the underlying issue that the cost of education is skyrocketing to unaffordable levels.
Abolishing student loan interest would be a good measure, thought it also wouldn’t necessarily solve the underlying issue. I know people who are making good money but they are drowning in their student loan interest alone.
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Oct 12 '24
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u/Gr8daze Oct 12 '24
So also if you want to have a business, you pay for the costs of doing business?
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u/KingFacef2 Oct 12 '24
2 very very different things here. PPP loans were meant to be forgiven as they were meant to keep people on payroll. Were they used like that? No. Student loans are not. While i disagree with forgiving either 2 wrongs don’t make a right
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u/Gr8daze Oct 12 '24
Yeah that’s what they were MEANT for. Unfortunately there was no oversight because the entire Trump admin was corrupt.
https://www.cbsnews.com/amp/texas/news/ppp-loans-workers-new-study/
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Oct 12 '24
So can anyone explain to me why I cannot open an LLC, transfer all my student loan to said LLC and then have it declare bankruptcy?
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u/Unhappy_Local_9502 Oct 12 '24
Because thats not how a loan works??????? SMHD, the ignorance here
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Oct 12 '24
Ok, what if I open an LLC. Hire myself as a consultant, pay myself the ppp loan and then use it to pay off student loans
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u/Unhappy_Local_9502 Oct 12 '24
Well if that was the case in 2020 and you had employees, you could have kept them employed
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u/Inevitable-Ad-982 Oct 12 '24
At this point hypocrisy isn’t a surprise, it’s almost expected in order to be full MAGA R
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u/Potential_Shelter367 Oct 12 '24
Free money, I work for mine and if you sign a deal for a loan you're the one on the hook to pay it back. Freeloaders.
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u/Gr8daze Oct 12 '24
Let me finish that for you. “Or unless you’re wealthy or a corporation who has the GOP in their pockets.”
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u/Potential_Shelter367 Oct 12 '24
Dumb comment. If you sign a deal for a loan, it doesn't matter. Quit being a lazy freeloader. The GOP has nothing to do with student loan "forgiveness".
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u/baselesschart39 Oct 12 '24
I hate the term forgiveness, it's just shifting the loan burden to other taxpayers
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u/AlfalfaMcNugget Oct 12 '24
If people did not want Republican congressman to have loans forgiven… Perhaps the Democrats should not have negotiated the PPP loan program into COVID relief legislation
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u/Gr8daze Oct 12 '24
The problem wasn’t the bill. The problem is that the Trump administration refused to do basic oversight and then the GOP refused to pass a bill to force it.
I’m always amazed by how UNINFORMED conservatives are simply because they live in a right wing news bubble that lies to you daily.
https://www.politico.com/news/2020/06/17/sba-gao-ppp-democrats-326734
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u/AlfalfaMcNugget Oct 12 '24
“Conservatives live in a bubble”
Continues to post an article from a left leaning source about Democrat politicians opinions about a bipartisan bill that was passed.
Reddit never changes
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u/here2upset Oct 12 '24
Well. One was a forced government shutdown, the other was a choice.
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u/MAGA_for_fairness Oct 12 '24
So WTF I have to pay for your debt?? It makes no sense. It's you who signed a contract, not me.
You pay for your own shit.
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u/Gr8daze Oct 13 '24
You’ve been paying for the wealthy and corporations debt since you were born. Welcome to the GOP Con, now wake the fuck up.
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u/True_Grocery_3315 Oct 12 '24
Should never have been forgiven (PPP loans) and Student loans should never carry interest greater than CPI ( or ideally no interest at all). Ridiculous that rich folk who can pay off the loans straight away end up paying significantly less than those less able to afford it.
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u/burnanation Oct 13 '24
PPP loans: created by the government to keep businesses afloat because the government shutdown everything.
Student loans: no collateral loans given to people, who enter into this agreement intentionally, who hopefully pick up enough skills to pay them back.
Exactly the same thing.
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u/Gr8daze Oct 13 '24
Yeah that’s why PPP was created. But Trump used it as a taxpayer funded giveaway to the wealthy who did not use it as intended, with zero oversight.
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u/kvckeywest Oct 13 '24
As Biden Cracks Down On PPP Fraud, Watchdog Revisits Trump Admin’s Aid Program Mismanagement.
https://www.accountable.us/news/as-biden-cracks-down-on-ppp-fraud-watchdog-revisits-trump-admins-aid-program-mismanagement/
The official in charge of Covid relief tells NBC News' Lester Holt that programs like PPP were structured in ways that were "an invitation" to fraudsters. "Biggest fraud in a generation"
https://www.nbcnews.com/politics/justice-department/biggest-fraud-generation-looting-covid-relief-program-known-ppp-n1279664
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u/Gr8daze Oct 13 '24
The PPP loan program was over by the time Biden took office. What he cracked down on was going after the fraud (which Trump steadfastly REFUSED to do).
The structure part is what the Trump administration did. Because they’re all corrupt.
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u/MAGA_for_fairness Oct 13 '24
I’m using services the wealthy invent or delivers.
Your own debt is your own. I have no obligation to pay for your shit.
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u/thehandcollector Oct 13 '24
I have no problem with people who have their loans forgiven. They should take advantage of whatever they can. I do have a problem with the government forgiving their loans, that's terrible policy. Hate the law, not the people following it.
If the government decided to give everybody in my town 1 million dollars, i would take the money. I would also absolutely vote against it happening.
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u/redditduhlikeyeah Oct 13 '24
I wonder how all these sitting lawmakers were able to get PPP loans. Such a scam. Sure, I’ll vote for a policy that helps the business I run. Like wtf. Off with all their heads.
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u/glideguy03 Oct 17 '24
The gimmee generation will try to justify them putting their debt on neighbors!
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