Row 74618

Row ID: 74618 | Dataset Entry | Axioma AXP Content Repository

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PPP was a massive handout to the wealthy and powerful. In all my years I've never seen Republicans so eager to pass legislation overnight that cost trillions.

>

>75% of PPP funds went to business owners, shareholders, creditors, and suppliers and roughly 25% to workers who would have otherwise lost their jobs. about 75% of PPP funds went to the top 20% of households by income.

>the program preserved 2 to 3 million job-years of employment at a cost of $170,000 to $257,000 per retained job-year.

>analysis reveals that a majority of the forgivable funds—intended for smaller businesses needing emergency relief for payroll, rent or mortgage expenses—actually went to bigger businesses, including some with ties to President Donald Trump and his administration.

>A mere 1 percent of the program’s 5.2 million borrowers — those seeking $1.4 million and above — received more than a quarter of the $523 billion disbursed.

When Democrats held up the Republican authored legislation they screamed bloody murder that Democrats hated America.

FieldValue
text PPP was a massive handout to the wealthy and powerful. In all my years I've never seen Republicans so eager to pass legislation overnight that cost trillions. > >75% of PPP funds went to business owners, shareholders, creditors, and suppliers and roughly 25% to workers who would have otherwise lost their jobs. about 75% of PPP funds went to the top 20% of households by income. >the program preserved 2 to 3 million job-years of employment at a cost of $170,000 to $257,000 per retained jo…
label r/economics
dataType comment
communityName r/Economics
datetime 2024-05-24
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Raw Record

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  "text": "PPP was a massive handout to the wealthy and powerful. In all my years I've never seen Republicans so eager to pass legislation overnight that cost trillions.  \n\n>\n\n>75% of PPP funds went to business owners, shareholders, creditors, and suppliers and roughly 25% to workers who would have otherwise lost their jobs.\n    about 75% of PPP funds went to the top 20% of households by income.\n\n>the program preserved 2 to 3 million job-years of employment at a cost of $170,000 to $257,000 per retained job-year.\n\n>analysis reveals that a majority of the forgivable funds—intended for smaller businesses needing emergency relief for payroll, rent or mortgage expenses—actually went to bigger businesses, including some with ties to President Donald Trump and his administration.\n\n>A mere 1 percent of the program’s 5.2 million borrowers — those seeking $1.4 million and above — received more than a quarter of the $523 billion disbursed.  \n\nWhen Democrats held up the Republican authored legislation they screamed bloody murder that Democrats hated America.",
  "label": "r/economics",
  "dataType": "comment",
  "communityName": "r/Economics",
  "datetime": "2024-05-24",
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