Just as a reminder - small businesses

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From the Foundation of Economic Education:

How Big Government Stacked the Deck Against Small Business
Most of us wouldn’t list 2020 as our best year. But you know who would? Amazon, Wal-Mart, Google, Apple, and a whole host of other big corporations who’ve seen their sales and stock prices soar amidst the pandemic.

Small businesses have been pummeled by excessive and insane governmental lockdowns of the economy. Experts warn that one third of small businesses could ultimately shut down for good, and hundreds of thousands have already done just that.

Meanwhile, Amazon’s sales increased 40 percent in the second quarter alone, while their stock price increased 97 percent. Apple hit a $2 trillion market cap, the first publicly traded company to do so, and reported nearly $60 billion in revenue. Since the pandemic began, Facebook’s stock rocketed up 85 percent, Google’s by 50 percent, Netflix by 63 percent, and Microsoft by 57 percent. All saw their revenues greatly increase compared to last year’s numbers as well.

And some numbers (the whole article is worth reading)

Not only did government persecute certain businesses to the benefit of others, it also provided incentives, handouts, and other pork in the CARES Act that continued to favor big business. Twenty-five percent of the initial $2 trillion (remember, those are your tax dollars) went to big business, with $58 billion going to the airlines alone and another $17 billion to the military-industrial complex giant, Boeing.

Only $350 billion was earmarked for small businesses, and of that, $243 million “accidentally” went to large companies instead – leading some companies to return the money over the ensuing outrage. All in all, only 5 percent of the first round of PPP loans reached small businesses.

Yeah - they are here for the "little man". Again, this is a political power grab and not a public health issue. The Deep State needs to be turned into a Shallow State. Reduce the size of government. Time to starve the leviathan.

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This page contains a single entry by DaveH published on November 28, 2020 3:11 PM.

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