Row 93595

Row ID: 93595 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 93595 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

1. At best, that's a half truth. Only 60% had to go to payroll for full forgiveness. Even if that low figure is not met, the amount forgiven may be \*reduced\*. "The Paycheck Protection Program Flexibility Act provides that at least 60% of the covered loan amount must be used for payroll costs. If less than 60% of the loan amount is used on payroll costs, the amount of the loan that is forgiven may be reduced."

2. These loopholes allowing for the abuse of PPP were not bugs; they were core features. Before the law was passed, Elizabeth Warren and several other senators were opposed to it and, at a minimum, were asking for clear loopholes to be closed, but they were ignored. (https://www.warren.senate.gov/newsroom/press-releases/warren-tweets-on-bailout-and-stimulus-negotiations)

3. The real point of PPP had nothing to do with protecting paychecks; it was an upward transfer of wealth, pure and simple. If it was about protecting paychecks, 100% should have been used for actually protecting paychecks, not to mention simple and commonsense oversight could have been added, along with glaring loopholes closed. None of that was done, and it was not an accident.

FieldValue
text 1. At best, that's a half truth. Only 60% had to go to payroll for full forgiveness. Even if that low figure is not met, the amount forgiven may be \*reduced\*. "The Paycheck Protection Program Flexibility Act provides that at least 60% of the covered loan amount must be used for payroll costs. If less than 60% of the loan amount is used on payroll costs, the amount of the loan that is forgiven may be reduced." 2. These loopholes allowing for the abuse of PPP were not bugs; they were core featu…
label r/economics
dataType comment
communityName r/Economics
datetime 2024-05-25
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Raw Record

{
  "text": "1. At best, that's a half truth. Only 60% had to go to payroll for full forgiveness. Even if that low figure is not met, the amount forgiven may be \\*reduced\\*. \"The Paycheck Protection Program Flexibility Act provides that at least 60% of the covered loan amount must be used for payroll costs. If less than 60% of the loan amount is used on payroll costs, the amount of the loan that is forgiven may be reduced.\"\n\n2. These loopholes allowing for the abuse of PPP were not bugs; they were core features. Before the law was passed, Elizabeth Warren and several other senators were opposed to it and, at a minimum, were asking for clear loopholes to be closed, but they were ignored. (https://www.warren.senate.gov/newsroom/press-releases/warren-tweets-on-bailout-and-stimulus-negotiations)\n\n3. The real point of PPP had nothing to do with protecting paychecks; it was an upward transfer of wealth, pure and simple. If it was about protecting paychecks, 100% should have been used for actually protecting paychecks, not to mention simple and commonsense oversight could have been added, along with glaring loopholes closed. None of that was done, and it was not an accident.",
  "label": "r/economics",
  "dataType": "comment",
  "communityName": "r/Economics",
  "datetime": "2024-05-25",
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