Many Americans were in favor of the Payment Protection Program (PPP) because it was supposedly going to help keep Main Street, USA small and medium sized businesses afloat during the pandemic.
However, according to restaurant owner and investor Ray Washburne on Tucker Carlson’s show last night (8/13/2020 episode), the US federal government has pulled an absolutely horrible bait and switch on restaurant owners involving the PPP grants. They were supposed to be forgivable loans in the form of grants.
But Washburne says that even if the restaurant has failed that restaurant owners may have to pay back 30% to 50% of the loans and it would flow through to their personal income taxes! YIKES!!!
Talk about the government changing the rules to screw people over! This also fits into stagflate and tax and lie as this tax scam is both a new tax and also another large lie from the US government.
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