COVID-19 Outbreak (Update: More than 2.9M cases and 132,313 deaths in US)

Here is why the PPP loans arent going to do much good

Right now, in Louisiana, being on unemployment pays the equivalent of $38,500 after taxes (more if you elect not to have taxes taken out). Just to break even, your job pay would need to be about $50,000 a year (depending on deductions).

So if a business gets the PPP now, after having to furlough employees, if the employees wont come back because they are making the same or more on unemployment, there is no forgiveness and the business is on the hook paying the whole loan back in 2 years

Which is OK for corporations like Ruths Chris or the Lakers who didnt need this money in the first place. Funny how that is working, huh?