Quote:
Originally Posted by Zact
The rules of the PPP CAres act explicitly state that the employee salary and benefits are capped at a value of $100k per annum. So a highly compensated employee can only receive a maximum of $8,333.00 compensation per month for the 8 week grant period, and health insurance cost and 401k employer match goes against it.
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So Joe Orlando, and others who make $100k/ year at Collector's Universe, will receive a FREE $16,666 + benefits. Even if it is that, vs $100k, that's money taken right of the hands of small business owners who are struggling to pay employees, rent, and utilities during this pandemic. Most small businesses are only asking for $15 to $30,000 to help keep them afloat.
Honestly, this is shameful of Collector's Universe who CLEARLY did not NEED the $4.4 MILLION they received (about $3.4 MILLION GRANT). I know small businesses who can't receive as a whole only what the executives at Collector's Universe are getting, and a couple in my area have to operate at limited to no hours because of it.