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The kiddos on Reddit are pretty upset about this. They're demanding small business owners repay their PPP loans if they have to repay their student loans.
They're complaining about PPP, are they? Well, well, well... they can thank the DEMOCRATS for PPP AND its extension. BOTH bills were sponsored by Democrats:
Forgiveness for PPP had conditions written into it as a provision.
Student loans possess no such provision.
"Wishfully hoping" for it as you've said is nothing more than knowingly putting the burden onto others that have no suck obligation while they also received no benefit from something that you did.
That really is a greedy and repulsive outlook on the reality of things to expect the "slavery" of others to do your bidding.
Plain and simple truth of it.
There is no correlation between student loans, PPP, and the provisions and terms of each.
None.
I keep seeing the freakouts about PPP loans also...not really comparable but it's hard to explain that to very emotional people. Mostly it went toward keeping people employed.
The purpose of the PPP loans seems to be lost on those who spent all their time crowding the national parks for their Insta selfies - financed with the Fed checks that kept coming. How easily that is forgotten.
However, I do know of 2 small businesses that are on the list of PPP recipients. 1 took out too little for it *not* to be payroll related; the other...well let's just say the other conveniently - in an explosive string of business transactions - took the loan, sold the company, moved to another state and now lives in seclusion in a not-so-inexpensive area in less than 6mo time. Quite a coincidence.
And did anyone else read the story recently (business insider maybe?) about how luxury goods retailers better hang on to their hats because the fancy purse and sneaker market was about to tank...implied because the kiddies will have to start using the money they've been keeping while NOT paying loans - to oddly enough - pay loans??? It's like the lux good market predicted this SCOTUS decision weeks ago.
Two sides to every coin and three sides to every story.
Acknowledge there is some major BS on both sides of this fight.
Folks have got to stop shouting at each other and use those things on the sides of their heads. They're not just to hang your glasses on. Hopefully it passes through that mush between the eyeglass holders.
There is an article which published a list of retailers which will see less sales due to Supreme court decision,fast food restaurants like Wendy and dept stores like Target,and personal service like Ultra Beauty.
As for ultra luxury goods peddlers, like LOUIS Vitton,Tiffany they have a different client base
I agree that the bar was set too high with this. It was already a ridiculous concept but to hear that an individual making 100k to 125k a year was going to be eligible, I was floored. I don't care where you live, 125k is not a small amount of money anywhere. There will be different situations for people but that number just seemed high. I could see if it was anyone making 70k or under but even that I would take issue with. Think about all the people making 125k a year with loans married to someone making 300k a year.
WTF should their loan be forgiven. So glad this didn't pass.
I have a conservative SIL who was coaching her moonbat genz daughter to stop paying her loans and wait to see what happened...so yeah the "I GOTS MINES (and I'm taking yours too)" crosses party lines AND generations.
Waiting to see what happens is not the same as throwing a temper tantrum when you find out you have to repay the loans.
I wonder if your SIL also suggested that instead of paying on the loans to put that money aside and when it came time to repay them, put down that lump sum she had been saving up.
The 2nd case had Standing due to a Missouri Law.
Pages 8-9 of the Decision.
Big Thank You to the State of Missouri!
I was a little surprised that Missouri was judged to have standing to sue on behalf of MOHELA, while MOHELA was at least publicly staying out of the fight and never joined the suit. The court decided that MOHELA is essentially an agent of the MO government because of how it is structured and tied to the government for its existence. I hope that same narrow standard is applied when inevitably more lawsuits pop up essentially claiming secondary injury (if A is injured by B, I could also be injured/lose investment/etc), or things could get crazy.
Let's also remember what this decision ISN'T, since the talking heads always seem to gloss over SCOTUS decisions. This wasn't a referendum on the concept of loan forgiveness, but a decision on the specific mechanism utilized. Biden and the SecEd can turn around and pursue similar plans under different statutes. More likely is the expansion of existing relief plans to lower interest, lower monthly payments, and shorten the term for forgiveness, which would ultimately save borrowers more than one shot of $10,000. Such programs would also sidestep the "tests" in place for the plan that just got struck down, those being an application process and income limitations.
I keep seeing the freakouts about PPP loans also...not really comparable but it's hard to explain that to very emotional people. Mostly it went toward keeping people employed.
The purpose of the PPP loans seems to be lost on those who spent all their time crowding the national parks for their Insta selfies - financed with the Fed checks that kept coming. How easily that is forgotten.
However, I do know of 2 small businesses that are on the list of PPP recipients. 1 took out too little for it *not* to be payroll related; the other...well let's just say the other conveniently - in an explosive string of business transactions - took the loan, sold the company, moved to another state and now lives in seclusion in a not-so-inexpensive area in less than 6mo time. Quite a coincidence.
And did anyone else read the story recently (business insider maybe?) about how luxury goods retailers better hang on to their hats because the fancy purse and sneaker market was about to tank...implied because the kiddies will have to start using the money they've been keeping while NOT paying loans - to oddly enough - pay loans??? It's like the lux good market predicted this SCOTUS decision weeks ago.
Two sides to every coin and three sides to every story.
Acknowledge there is some major BS on both sides of this fight.
Folks have got to stop shouting at each other and use those things on the sides of their heads. They're not just to hang your glasses on. Hopefully it passes through that mush between the eyeglass holders.
Some of the biggest abuses of covid funding probably happened on the government level. The Township I used to work on received tons of covid grant money due to how the law was written, despite having very little actual responsibility for the services that money was supposed to fund (most was handled at the County level-- the County received separate funding based on the population in the remainder of their territory while having to provide services for all). Anyway, much of that money ended up being used for anything that could be remotely tied to covid or disease prevention... like long-overdue renovations, but we installed auto-flush toilets and touch less sinks, so it qualified. Same goes for buying brand new vehicles for the bosses so they didn't have to ride together.
The kiddos on Reddit are pretty upset about this. They're demanding small business owners repay their PPP loans if they have to repay their student loans.
People on Reddit are bereft of intelligence and ill-informed. The difference is that PPP loans are dischargeable under Chapter 11 and if a personal guaranty was provided, they're also dischargeable under Chapter 7 if they meet the means test for their State or dischargeable under Chapter 13 in the event they do not qualify for a Chapter 7.
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