Posted on 08/20/2022 8:01:39 PM PDT by bitt
Some of the wealthiest celebrities reportedly took advantage of the Payment Protection Program (PPP) loans offered by the U.S. government designed to aid desperate businesses hard-hit by the COVID-19 pandemic.
The pandemic wreaked havoc on working-class citizens and forced millions of businesses around the globe to close, yet recent findings indicate that wealthy celebrities took advantage of PPP loans in spite of their wealth, according to the Daily Mail. Some of the reported celebrities included Tom Brady, Khloe Kardashian, Reese Witherspoon, Kanye West and Nancy Pelosi’s husband Paul, according to Daily Mail.
Kanye West’s apparel company, Yeezy LLC, reportedly borrowed $2,363,585, with a whopping $1,772,689 of that money having gone to payroll for 106 staff members, according to Daily Mail.
Good American LLC, Khloe Kardashian’s denim brand, was reportedly approved for a $1,245,405 loan in April 2020 and dedicated the funds to pay 57 workers, the Daily Mail reported. The entire loan amount, plus interest, was forgiven by the government, according to the outlet.
Jay-Z was approved for PPP loans for two of his firms in 2020, according to Daily Mail. His top earning corporation, Malibu Entertainment is linked to his multi-million dollar streaming platform, Tidal, and received $2,106,398 in loans which was reportedly put toward securing 95 employees during the pandemic. This loan was also forgiven in its entirety, the outlet reported.
Football legend Tom Brady is poised to become the first-ever billionaire to have ever emerged from the NFL, and his well-being corporation, TB12, reportedly received $960,855 in an effort to secure 80 jobs within the organization. His loan was entirely forgiven as was the interest that was estimated to have been in the range of $12,000, according to Daily Mail.
Reese Witherspoon’s clothing company, Draper James LLC, was reportedly issued a $975,472 PPP loan that was also
(Excerpt) Read more at dailycaller.com ...
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Gifts, I think they mean.
why I’m paranoid and bitter......
and this, those evil bastids...
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https://freerepublic.com/focus/f-news/4083949/posts
Billionaires, Hollywood Celebrities Join Call to End Public Plane Tracking After ‘Climate Criminal’ Backlash
Breitbart ^
Posted on 8/8/2022, 9:57:08 AM by MNDude
Billionaires, Hollywood celebrities, and climate activists share fame, fortune, and a profile they work hard to control. All of which is why so many are calling on a public company not to track their flights and expose their carbon footprints.
AFP reports flight-following websites and Twitter accounts that offer real-time views of air traffic are on the end of regular pushback ranging from complaints to gear seizures by those who would rather their movements are not in the public domain.
Did they legally qualify and follow the rules?
If yes, this is simply an argument out of envy.
If there was a legitimate business impacted by covid, I’m fine with that business qualifying to receive a forgivable loan.
It has nothing to do with the net worth of an owner.
No,its not about envy..Its about filthy rich people,WHO CAN AFFORD TO PAY THEIR OWN EMPLOYEES OUT OF THEIR OWN POCKET....How many small businesses went under because they didn’t get any PPP money???? Annnd by the way ,most of “loans” were forgiven...
You don’t get rich by passing up free money.
Sure, I envy Nancy Pelosi and her husband for taking tax payers money.
If they legitimately employed people, qualified for the loans based on the rules, I don’t see a problem with it. My employer at the time was very wealthy, took a PPP loan, and did not skip a beat on payrolls and benefits, in spite of business/sales being dreadful during the first year or so of Covid. It would seem to be a smart business move to take it, if able to do so.
There are a lot of other government handouts, that result in more questionable motives and results, IMHO.
Don’t forget Tom Brady’s wife Gisele is worth $400 million. The richest NFL player, believe it or not, is Roger Staubach. He got into real estate in the off-seasons starting in 1970 and is now worth $600-650 million. Meanwhile, the peasants get harassed if they get behind on their credit cards. I saw AOC complaining about her student debt the other day. She’s almost four years into an annual 175 K congressional salary, why isn’t her student debt gone?
Yep or carving some out for the family like Pelosi.
It was legal..But was it moral for someone who has 60 million dollar net worth or more to dip their hand in the cookie jar?? Many small businesses didn’t have that kind of net worth to fall back on.....
Or, put differently, envy.
I don’t see it as being immoral. Small businesses were eligible for i, IIRC. I do not equate this as somehow “cheating” for wealthy (which is a relative term, and who gets to decide what it really means?) to take advantage of the opportunity available when it arose.
Based on your logic, should the “wealthy” business owners also pass up on business expense deductions? Tax credits that might be available? What is the criteria for a business owner to be expected to conduct himself/herself in a manner that you feel is sufficiently charitable?
? If they took private loans and the lenders forgave it, that’s one thing. But taxpayers had no say in having their taxdollars given away in PPP loans that were “forgiven.” How does “following the rules” make that okay?
If you had 60 million net worth, would you haven taken the money or paid your employees out of the 60 million ?????
You down with PPP?
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