The PPP destroys millions of 1,099 jobs because of the US Treasury Department

The Paycheck Protection Program will provide a much-needed lifeline for countless companies with W-2 employees, provided they can successfully navigate the maze. However, due to the incompetence of the SBA and the US Treasury Department, millions of 1,099 jobs will be lost, some permanently.

Two thirds of the economy is now service oriented. In addition, the number of workers paid over 1,099 rose from 18 million in 2001 to 26 million in 2016. In 2019, the IRS reported …

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