> To be sure, the congressional relief package includes $350 billion in help for small businesses, but the program is complex, limited in scope and only a fraction of eligible businesses are likely to use it.
That is absolutely untrue. The payroll protection loans cover 2.5 times average monthly salaries. It is easy to apply and virtually every company under 500 employees WILL eventually apply. I applied on Friday and I know many many others who did the same.
And that isn’t even the only relief that was provided. There are also disaster loans available that go up to $200k before requiring owners to liquidate.
The normal loan requirements have been completely thrown out the window.
But there is also a perverse incentive going on right now because of the expansion of unemployment. We have already had one employee quit to take an unemployment raise. The Senators who raised concerns about this were right. Unemployment payouts should have been capped at whatever the previous income was.
And there is a perverse incentive from the business side, too. The law doesn’t require no layoffs so some businesses are laying off employees and hiring more talented people at depressed rates. They only have to have the same number of employees not the same employees.
>We have already had one employee quit to take an unemployment raise.
If your employer pays less than unemployment, or schedules employees for fewer hours than unemployment-- it is the problem, not the unemployment benefit.
That is absolutely untrue. The payroll protection loans cover 2.5 times average monthly salaries. It is easy to apply and virtually every company under 500 employees WILL eventually apply. I applied on Friday and I know many many others who did the same.
And that isn’t even the only relief that was provided. There are also disaster loans available that go up to $200k before requiring owners to liquidate.
The normal loan requirements have been completely thrown out the window.
But there is also a perverse incentive going on right now because of the expansion of unemployment. We have already had one employee quit to take an unemployment raise. The Senators who raised concerns about this were right. Unemployment payouts should have been capped at whatever the previous income was.
And there is a perverse incentive from the business side, too. The law doesn’t require no layoffs so some businesses are laying off employees and hiring more talented people at depressed rates. They only have to have the same number of employees not the same employees.