Reinstate the 1960 tax brackets, adjusted for inflation.
It would fund the government, and address some of the wealth inequality that Reagan’s trickle-down crap created.
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Also according to the SBA:
Depending on your industry, a small business could be defined as business with a maximum of 250 employees or a maximum of 1,500 employees. They’re privately owned corporations, partnerships, or sole proprietorships that have less revenue than larger businesses.
In 2019, Ruth’s Chris had 5,740 employees.
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I imagine most went to loans as it should. The program is a gimmie to those that can stay open. I think my CPA applied for it and I’ll get a few grand out of it. But my biz is open and I’m paying my employees ( actually curb side surgery is pretty cool ) so I’ll likely have my loan forgiven. If so I’ll take my staff to Madure Restaurant to pig out and buy that bottle of Opus One they have on the wine list.
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I think they pull this off with the franchise scam. Ruth’s Chris, a crappy corporate food joint with manufacturers not Chefs, has quite a few franchises that might qualify for this loan.
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Shocking to see (SMALL) businesses that were open a week ago pretty much all shut down today.
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tc
Those *2,3 5, 10, employee businesses are the ones I saw shut down a few minutes ago,the folks you could
shoot the breeze with gone.
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I’ve heard that line of thinking elsewhere and I disagree with it. Sure, the 1% is snapping up some deals off of the misery of Americans as we speak. But, in general, a country that’s been pretty much destroyed financially along with its morale isn’t of much good even to the 1%ers.
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Right? They can unilaterally reroute millitary funding for Trump’s wall, but can’t use their $500 billion chronies grab-bag fund to help small businesses?
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This.^
I think we’ve come to the absolute end point of the concept of why the largesse of the ultra wealthy being better than an actual government was always garbage.
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The real question ought to be, ‘Did any of the money for to tRump businesses?’
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The Dems are not being smart. Go on Twitter - it’s a field day that Pelosi and Schumer are stopping this. They are. For good reasons? Maybe. But as a small business owner that was frozen out of the program - my bank never even processed my application! - any wait is diastrous. There is time for leverage and this is not it. What can be done is to limit the size of the next round of loans to $1 million and replenish the full $349 billion. Only 5% of the loans issued were above this threshold but it was over 47% of the funds allocated. If you limit to $1 million then many more small businesses will be helped. And by definition they will be more women and minority owned small bank customers. So they get what they want that way.
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The republicans hate, hate, hate acting like Democrats, that is using government resources to keep Americans afloat. McConnell represents the worst of this philosophy and I’m hoping his inability to rein in the orange moron will sooner than later bite him in the ass.
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Incorrect. The 1%ers have cash and assets. They have Wealth. Wealth allows them to buy on the cheap and hold or sell as they please using their cash or borrowing with their assets as collateral.
The reason why most Americans don’t understand that trickle down can not work is that most Americans don’t have any contact with people who are that wealthy and, therefore, are incapable of conceiving or imagining what such wealth is. Add to that the fact that many of the little people are poorly educated, yet think they know as much as the well educated, mostly Democratic, politicians and civic leaders who try to explain how the Wealthy operate, so they ignore or are unable to process how they are being fleeced. It’s the results of two sides of ignorance.
Trust and believe, the Wealthy will own a greater share of America when the Trump Pandemic is over, and the little people will be screwed yet again.
An anecdote. I just happened to butt dial an heiress to a 1%er yesterday. I had not spoken with her in a while. She genuinely tries to be a good person despite being a Republican (obviously) and, being hunkered down in place, even in the mansion, she was getting bored and was happy to talk for a bit. She told me how she was ordering everything delivered (from the most expensive places) and tipping, generously, with $20 per delivery. I almost burst out laughing. A $20 tip in our area would be reasonable in normal times for folks like most of us, just because of the service being provided. But $20 in a crisis, for a delivery to the 90210 zip code is laughable given the hazards involved. She could afford to tip $1,000 per delivery and would not notice it, but the truly wealthy don’t think that way. There’s no charitable deduction for a tip to a local delivery person, amiright? The point is, the wealthy just see things differently. They truly do not get the hardships of the middle class. That is why there will not be any change in the direction America is taking so long as we, the declining middle class, collectively get our information from the MSM propaganda.
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This is almost the perfect description of a restaurant that’s not part of a chain. The pizza parlor, the Chinese joint, the family run neighborhood Italian place. They’re what we patronize and though some are open for take out, it’s depressing seeing two employees sitting around waiting for a customer, any customer to walk in to pick up an order.
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The Dems have an enormous amount of leverage here. I think they can get almost all their demands if they hold firm.
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You’re incorrect because they need to pass something on unanimous consent as they are not in session. Any one of their demands can derail this process. In the meantime, the optics are terrible. When they come back on May 4 (maybe) then they can pass bills and negotiate. They are wasting time and hurting small businesses like mine for some nebulous goal. Cap loans at $1 million which were 95% of the loans but only 53% of the fund.
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Of course there is nothing left. It went to Jared.
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The SBA’s affiliation rule is meant to block your first scenario from happening. Now, the affiliation rule was suspended for NAICS Code 72 industries (which means hotels and restaurants, primarily) and for franchises, so you’ll see those exceptions - they just need to have less than 500 employees at the location applying. And certain industries, as defined by NAICS code, have a higher employee limit. (mainly certain types of manufacturing) But otherwise, you’re literally committing fraud if you do that - you certify on the application that you have not exceeded the size limit once the affiliation rule is taken into account.
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And who’s going to enforce these laws, Barr or Trump’s “acting” IGs?
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Didn’t Kudzu’s wife get one?