Huge Companies Take Stimulus Cash Meant for Small Businesses
Article from The Daily Wire by Joseph Curl.
Forget the mom-and-pop shops, big business rules.
Huge, publicly traded companies have already sucked up hundreds of millions of dollars from the emergency funding Paycheck Protection Program (PPP) set aside for small businesses in the $2.2 trillion package passed by Congress last month.
The PPP started out with nearly $350 billion and was intended to help small businesses survive mandatory shutdowns or business slowdowns during the coronavirus crisis. But at least 75 companies — some of them with market values topping $100 million — have requested and received cash from the fund.
In fact, the federal government has paid out more than $243 million of the total $349 billion to publicly traded companies, new research published by Morgan Stanley shows.
Read the entire article at The Daily Wire.
Image Credit: By Jericho [CC BY 3.0 (http://creativecommons.org/licenses/by/3.0)], via Wikimedia Commons
The majority in Congress I believe doesn’t know what a small business is. The President said to be used to help pay for employees salaries where the business income may be hit by this virus. It is when they use it for their greed that is the problem. I look at like Costco and how they have gone all out trying to make it safe for their customers and it has been more expensive to do this and also protect their employees. There are smaller businesses that it is a big expenses to keep their offices virus free and safe for their employees and customers and many are not making profits of millions or billions each year. It always appears that the really small businesses are the ones that are hurt the most – Obamacare hurting the smaller businesses, the long term disability really hurting the smaller businesses with their workers comp payments rising and continually for many years down the line even if they did not have employees laid off. The state raised the rate. There are larger businesses that keep changing categories that can keep them labeled as small to get contracts and benefit of being small. This hurts the truly small businesses. It is just like I heard about when someone dies now in hospital doctors are the put down cause of death the virus because upon death the hospital gets $39000 and if they had the virus $13000. It is time for each of us to get to the truth and not living by lies and manipulations.
Just because the big corporations request the money, the government does not have to give it to them. The people in Washington should be held just as responsible as the corporations, maybe even more-so.
Absolutely TRUE… But the opt word here is, SHOULD BE HELD !!!!!!!!