https://twitter.com/johnnyheatwave/status/1563263190430990336?s=21&t=yex2qKbipogI1_jRV-Jznw
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I mean kind of. To give people money they had two options. Let people quit their jobs and/or go unemployed and then give money to them directly or give money to businesses who then would give money to their employees. The thinking behind the PPP is that businesses already had a ready made mechanism to give money to people at their current pay level, a paycheck, and we had an easy way to give money to businesses. The state on the other hand, didnât have an easy infrastructure to know what a personâs income was and give them weekly checks and to do that will millions of people. The stipulations were to try and preserve some employee employer relationship so that when business started back up we werenât starting at some kind of employment ground zero.
Some countries did it our way, going through the employers, and others did it the other way or at least thatâs what I vaguely remember. I even vaguely remember some analysis done on the differences, but I canât remember it.
In any case, for whatever reason the Nat Silvers somehow think being technically correct (the best kind of correct) is the only thing that matters and theyâll chide Democrats of taking advantage of a rhetorical shortcut, that PPP and the money we give to students are both called loans while not being the same thing, when the bigger picture, that Republicans always want to bitch at the poor getting money in the name of unfairness, while rich people will brag all day about ripping off the government is 100% correct.
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The US should really be building this infrastructure in preparation for the next crisis. The federal government needs more data about the people.
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i am sure all gop voters are going to familiarize themselves with the wharton report, and then decide whether they like loan forgiveneess
(CNN)President Joe Bidenâs student loan debt relief plan is expected to help mainly working and middle class borrowers, an updated report from an influential research group found. Thatâs a shift from its earlier projection that more higher-income borrowers would benefit from basic loan forgiveness.
About 75% of the benefit will go to households making $88,000 or less per year, according to the Penn Wharton Budget Model analysis released Friday.
The three-part relief package could cost up to $605 billion over 10 years, though the price tag could exceed $1 trillion depending on how the proposed income-driven repayment program is actually set up and how many people participate, Penn Wharton found. Thatâs substantially higher than its initial estimate of a less comprehensive debt relief plan.
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Jesus Biden who transplanted the sardonic teenager soul into his body?
https://twitter.com/Kevinliptakcnn/status/1563235329955377152
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I know this isnât the PPP thread, but since itâs become a thing to talk about in light of student loan forgiveness, stuff like this is important:
The Paycheck Protection Program (PPP) provided small businesses with roughly $800 billion dollars in uncollateralized, low-interest loans during the pandemic, almost all of which will be forgiven. With 94 percent of small businesses ultimately receiving one or more loans, the PPP nearly saturated its market in just two months. We estimate that the program cumulatively preserved between 2 and 3 million job-years of employment over 14 months at a cost of $169K to $258K per job-year retained. These numbers imply that only 23 to 34 percent of PPP dollars went directly to workers who would otherwise have lost jobs; the balance flowed to business owners and shareholders, including creditors and suppliers of PPP-receiving firms. Program incidence was ultimately highly regressive, with about three-quarters of PPP funds accruing to the top quintile of households.
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The âfuck your feelingsâ folks sure have some feelings this week.
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I do think the PPP loan was a good plan
But if your revenues increase. It should have turned into a loan and not a free million dollars for millionaires.
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The tears are scrumtrulescent. Itâs meltdown after meltdown in the comment section of my local newspaper.
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Right, but they did both. They gave billions to employers and they massively expanded unemployment. And then they started handing out stimy checks to errybody like it was the Oprah Winfrey show.
LOL what got into this guy. DGAF mode.
https://twitter.com/sahilkapur/status/1563282260547497985?s=21&t=pGHe_kqv_DS2bh1J3xCgcQ
Worth pointing out that the âBiden is a Nazi who is imprisoning children in concentration camps at the borderâ take may not be completely accurateâŠ
Cliffs:
Biden created a task force to try to undo the damage Trump did with the separations. Since itâs creation, theyâve managed to reunite 400 families.
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The elderly have gone weekend mode and are throwing heat
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If you asked me to name a celeb who made that tweet, I wouldnât have guessed Dan Rather with a million guesses.
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Seems⊠good that garrison likes you?
https://twitter.com/9mmballpoint/status/1563228475091472384?s=21&t=iMm0MfTWq0uyZd2Wcji1Iw
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