Tom Brady bought a yacht

@AverageJoe1 said
Fascinating to you, of course. Of a parasitic nature, it is human nature for you to get free money, nothing fascinating about that amongst your ilk, I take it..
I have never received what you casually refer to as simulus checks. brrrrrrrr.
Surely that must make you feel a bit inadequate? Do your family know that you are on the dole?
A self reliant person needs ...[text shortened]... cess. Try it.

I, and my friends I was with this morning, have no idea what you are taking about.

@wildgrass said
Ok thanks! Big difference in the cost per job between these two studies ($258k vs $70k). I read the methods in your report but could not understand their reasoning. It seemed convoluted to me that they use data from the county the bank that received the "loans" were located, whether or not the banks chose to take the "loans" or not, and the relative unemployment numbers in ...[text shortened]... most logical approach, so I trust that analysis more than the lender-focused study you just shared.

@wildgrass said
Ok thanks! Big difference in the cost per job between these two studies ($258k vs $70k). I read the methods in your report but could not understand their reasoning. It seemed convoluted to me that they use data from the county the bank that received the "loans" were located, whether or not the banks chose to take the "loans" or not, and the relative unemployment numbers in ...[text shortened]... most logical approach, so I trust that analysis more than the lender-focused study you just shared.

@no1marauder said
Here's Autor's method:

" The simplest and arguably most credible—though not necessarily most
complete—method to assess the employment effects of the Paycheck Protection
Plan is to compare the trajectory of employment at firms below the 500-employee
initial-eligibility threshold to employment at ineligible firms above this threshold
during the course of the pand ...[text shortened]... lier effect that prevents layoffs at firms in the area even if they were ineligible for the program.

... but it also strengthens the local economy by preserving higher levels of consumer spending...

@no1marauder said
Your last paragraph is completely wrong and makes me think you didn't even read the Autor study.

You bitched about the estimates given by the Trump administration studies, so I found one by researchers affiliated with the Fed published during the Biden administration. Their methodology makes obvious sense linking unemployment rates to the amount of PPP loans in particular counties.

@wildgrass said

... but it also strengthens the local economy by preserving higher levels of consumer spending...

This is the classic "trickle down economics" argument, and precisely why the legislation has been rightfully slammed as regressive.

We give Tom Brady a bunch of money so he can buy a yacht which "strengthens the local economy" because someone's going to get paid minimum wage to build that yacht.

I'm against it.

@sh76 said
You and all your friends missed all the stimulus checks, ever?

Either your group is incredible oblivious, you all have terrible memories, or your neighborhood must be a gated community in Beverly Hills or Newport Beach.

Edit: As for being on the "dole" I pay Uncle Sam tens of thousands every year in income tax. An occasional $300 stimulus check notwithstanding, I'm not on the dole.

@no1marauder said
You don't understand what "trickle down economics" means if you think jobs programs are an example of them.

And you're still telling a falsehood, Don Junior.

@AverageJoe1 said
No, average neighborhood, average American capitalist conservative friends. I don't fault your having the reverse....lib friends and socialist tendencies.
But personal info is irrelevant. I had to be personal to say neither I nor they get govt money, we rely on our own designs.

As we heard of stimulus checks in some way or another, possibly the business news, w ...[text shortened]... ware of them If my kids got them, I don't know about it.

Is that enough, please? Give it up.

@sh76 said
Dude... pay attention.

YOU got them. YOU got the stimulus checks.

Your friends. The ones who are good ol' boys from the hood. THEY got them. THEY got the stimulus checks. You all got them. You probably all deposited or cashed them.

It's possible you conveniently forgot them, as the only alternative is that you're lying.

Edit: Not that I really give a damn, but I stil ...[text shortened]... y compulsion to point out that calling me and my friends "lib" and "socialist" is utterly laughable.

15% was outright fraudulent, which is something like $120 billion. Some of it was clawed back, some people went to jail, but only a small fraction. Most got away with stealing from taxpayers.

Then there's the category like Tom Brady, who didn't need the money but didn't commit fraud when he applied for the cash handout. That's the bulk of the rest of the money.

Then there's a small fraction that actually helped small businesses and helped with payroll. What a disaster.

https://www.nytimes.com/2021/08/17/business/ppp-fraud-covid.html

@no1marauder said
You don't understand what "trickle down economics" means if you think jobs programs are an example of them.

And you're still telling a falsehood, Don Junior.