Kanye West made $170 million this year, but took a $2-5 million PPP loan from the federal government that could have gone to a small business whose owner didn’t have it sitting in his personal bank account.

It was 2% of Kanye’s income. This is

PPP program was a finite amount of funds meant to help keep people employed.

But because funds went to people like Kanye, who has the means to pitch in and save his own employees’ jobs and not beg the federal government to pay, many smaller businesses went without.
He can say it saved 100 jobs at his company but he ignores the fact that
*he* could have saved 100 jobs at his company.
I focus on Kanye because Forbes just released its highest paid celebrities list and he was #2 (behind sister in law Kylie Jenner). But hedge funds and other celebs also got PPP loans. The program did not favor small businesses in real trouble, restaurants in particular.
Kanye, Khloe Kardashian, Tom Brady, Jared Kushner’s family, billionaire developers—all snapped up these loans. Their access to banks—and no doubt in some cases the Trump Admin—helped them get to the front of the queue.
Thoughtful piece about why the wealthiest folks getting emergency federal funds isn’t the spirit of the program. The government should take a glance at incomes of business owners to determine whether they really *need* federal help more than others.
https://t.co/Xx3LY0G6Cc
Another reality is that the government guided the program in a way that locked in loans for eligible businesses and left many out of the equation. That needs to change.
But take a dive into the last year. Recipients might argue PPP was available to many and claim they never took from someone else.

But realize that the first round of loans were snapped up in thirteen days. How many small businesses failed in the interim?
https://t.co/d7DS7NoLXS
The second round of money went much slower: businesses reported confusion about applications, guidance, rules of the program. Banks have been accused of pushing bigger clients to the front of the line. Loan sizes got smaller. Just not efficient.
https://t.co/mszHYFKbcY
Our system spent billions on a program that did not target the areas which were most vulnerable. Instead, wealthy and large businesses got government loans and maintained profits. Thats good for some aspects of the economy, but reality is people have empty bank accounts.
We have to do better.

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I'm going to do two history threads on Ethiopia, one on its ancient history, one on its modern story (1800 to today). 🇪🇹

I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. 🇪🇹 (sub-thread):


The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC 🇪🇹


Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. 🇪🇹


References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". 🇪🇹
शमशान में जब महर्षि दधीचि के मांसपिंड का दाह संस्कार हो रहा था तो उनकी पत्नी अपने पति का वियोग सहन नहीं कर पायी और पास में ही स्थित विशाल पीपल वृक्ष के कोटर में अपने तीन वर्ष के बालक को रख के स्वयं चिता पे बैठ कर सती हो गयी ।इस प्रकार ऋषी दधीचि और उनकी पत्नी की मुक्ति हो गयी।


परन्तु पीपल के कोटर में रखा बालक भूख प्यास से तड़पने लगा। जब कुछ नहीं मिला तो वो कोटर में पड़े पीपल के गोदों (फल) को खाकर बड़ा होने लगा। कालान्तर में पीपल के फलों और पत्तों को खाकर बालक का जीवन किसी प्रकार सुरक्षित रहा।

एक दिन देवर्षि नारद वहां से गुजर रहे थे ।नारद ने पीपल के कोटर में बालक को देख कर उसका परिचय मांगा -
नारद बोले - बालक तुम कौन हो?
बालक - यही तो मैं भी जानना चहता हूँ ।
नारद - तुम्हारे जनक कौन हैं?
बालक - यही तो मैं भी जानना चाहता हूँ ।

तब नारद ने आँखें बन्द कर ध्यान लगाया ।


तत्पश्चात आश्चर्यचकित हो कर बालक को बताया कि 'हे बालक! तुम महान दानी महर्षि दधीचि के पुत्र हो । तुम्हारे पिता की अस्थियों का वज्रास्त्र बनाकर ही देवताओं ने असुरों पर विजय पायी थी।तुम्हारे पिता की मृत्यु मात्र 31 वर्ष की वय में ही हो गयी थी'।

बालक - मेरे पिता की अकाल मृत्यु का क्या कारण था?
नारद - तुम्हारे पिता पर शनिदेव की महादशा थी।
बालक - मेरे उपर आयी विपत्ति का कारण क्या था?
नारद - शनिदेव की महादशा।
इतना बताकर देवर्षि नारद ने पीपल के पत्तों और गोदों को खाकर बड़े हुए उस बालक का नाम पिप्पलाद रखा और उसे दीक्षित किया।