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(Photo Ricky Harris/The White House/Flickr
Photo White House/D. Myles Cullen/Flickr.)

BUSINESS

The Senate’s Plan To Save Small Businesses Is Already Failing, And Mnuchin Just Made It Worse

The details are out of Treasury now, and it looks like it isn’t going to work for a large number of small business owners after all.
Christopher Bedford
https://thefederalist.com/2020/04/08/the-senates-plan-to-save-small-businesses-is-already-failing-and-mnuchin-just-made-it-worse/

By Christopher Bedford
APRIL 8, 2020

Remember the deal the president signed to save America’s small businesses from ruin during the government’s coronavirus shutdown? The one hammered out by the Senate and Secretary of the Treasury Steven Mnuchin over weeks of tense negotiation while Americans worriedly watched, hoping good news might come before a depression does? The details are out of Treasury now, and it looks like it isn’t going to work for a large number of small business owners after all.

It isn’t going to work because the Senate’s formula allows far too little money to make up for a lost month and get through the following two or more while meeting the Senate’s demands. The Senate made these demands to protect workers, but did not provide the money a lot of businesses will need to protect workers and themselves. It’s just common sense, Washington will say, to protect workers and the taxpayer in these hard times.

Then, even if there was enough money, it isn’t going to work because Mnuchin crafted loan parameters that make it untenable for nearly all small businesses should the Senate’s demands not be met, which would mean the loan doesn’t qualify for forgiveness. Treasury did this last bit to protect the banks while pushing them to make loans they aren’t otherwise making. It’s just common sense, he’ll say, because local and regional banks couldn’t make a more generous deal work — a problem Mnuchin knew was coming the entire time the Senate negotiated, of course.

Here’s how it all plays out in real life. Imagine you own a restaurant with a gross revenue of $1.2 million a year, or $100,000 a month. This business employs eight people and has gross expenses of $1 million a year, or $85,000 a month. So in a normal year for your restaurant, you get to take home $200,000, minus taxes. A 20 percent profit, by the way, puts you above and beyond a lot of America’s small businesses, which will be dealing with tighter margins than the ones below.

Your monthly expenses don’t include buying goods anymore, because the government shut you down for the pandemic, but they still include rent or interest on your mortgage, the real estate tax, building insurance, maintenance and utilities, coming to $15,000 a month in your case. Then you have, say, $30,000 a month in payroll before taxes, and none of this includes your own pay. Now you need a loan.

The Senate’s loan amount is generated by multiplying a business’s monthly payroll by 2.5. The loan is meant to cover two months and can go toward your costs and utilities, but to qualify for grant forgiveness you need to retain your entire workforce and put at least 75 percent of the loan toward them.

At 2.5 times your monthly payroll, which is $30,000, you’re looking at a $75,000 loan. If this seems less than your needs, it’s because it is. You’re already in the hole because you saw a steep decline in business in March as the pandemic spread, but you didn’t know what was coming so you kept your full staff without earning near full revenue. Now you’ve got $75,000 for the next two months, but two months of payroll, rent and utilities swings in at $90,000 — $15,000 more than the loan that already doesn’t take last month into account. The city closed your restaurant the next two months too, by the way, so you won’t be earning a dime of revenue in that time.

By June, you’ve earned no income and you’re halfway through your year. If you could get roaring again right away you might make up some of that, but you’re a restaurant and unless a cure is suddenly widely available, occupancy will be severely limited by the state and revenue won’t be what it once was. It might not be profitable to open at all, given new distancing requirements and their impact on sales.

If you don’t make the Senate’s requirements, you have to pay that loan back, and thanks to Mnuchin, you’re not going to be able to do that either. In the bill, Congress set a window of a maximum interest of 4 percent and loan repayment within 10 years. This was just a window, so it was up to Treasury to set the final costs and they put them at 1 percent interest and two years to pay the bank.

In real life, that means you’re looking at beginning your third quarter in debt, limping on into the winter, losing an entire year’s profits getting your business running again, and owing nearly half of next year’s profits to the bank, all before any other loans you had to take out to keep from bankruptcy. You might have been able to spread that pain out, but two years is too little time.

And then there’s all the dictates Nancy Pelosi put into the bill in exchange for the Democrat vote. You might support the speaker and think that paid leave and health insurance requirements on small businesses are a noble policy, but you’ve got a lot on your mind and in addition to keeping everything afloat, taking this loan means you expose yourself to a lot of business costs very quickly at the onset of what might be an economic depression. Republicans gave you a tax credit to pay for it all, which is nice, but that’s at the end of the year — if you’re broke and out of business by then, it won’t mean anything.

Additionally, as your neighbors’ restaurants go under, the cost of the goods you need have increased. It’s a disaster. There’s no chance you’re making $200,000 in profits this year. Instead, with the private loans you finally pried out of the near-frozen banks, you’re in debt and left wondering what you’re doing here. The business you’ve worked for all these years just went down in a sea of shutdowns and disease, and there are jobs that pay well without all the risk and danger of being an entrepreneur and employing people in your community.

Like most other small business owners, you never wanted to own a giant company or a big house on the hill — just earn a good living working hard. It’s a sad thing, but the reality is most Americans prefer stability and assurances to risk and exposure, even with the chance of reward. That’s what makes our entrepreneurs different and what makes them special: They take the risk, and because they do, a whole lot of the rest of us have jobs, favorite places to go, sponsors for our children’s sports teams, and all the other things that make a town our town.

The above scenario is just one, and some folks might have lower or higher costs than your restaurant did, but you’re united with them in that risk you took to make America a better place for yourselves and your neighbors. Now that might be over, ended by a foreign disease, politicians who don’t get what it takes to run a business, and a Treasury secretary who only cares about Wall Street and the banks. It’s a terrible thing to see. Let’s pray Washington wises up — and hold them accountable if they don’t.

Christopher Bedford is a senior editor at The Federalist, the vice chairman of Young Americans for Freedom, a board member at the National Journalism Center, and the author of The Art of the Donald. Follow him on Twitter.
Photo Ricky Harris/The White House/Flickr
Photo White House/D. Myles Cullen/Flickr.

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EPA, FDA raising their own private armies with body armor and military weapons
http://epawatch.org/2016-01-15-epa-fda-raising-their-own-private-armies-with-body-armor-and-military-weapons.html
January 15th, 2016, by Mike Adams

Both the EPA and FDA are arming up with military-style equipment such as body armor, spending tens of millions of dollars on such gear over the last few years.
OpenTheBooks.com has been tracking this government spending on military-style equipment, revealing a frightening pattern of regulatory agencies – which should be pushing paper – now building their own PRIVATE ARMIES to be used as weapons of intimidation and coercion against the People.
The regulatory police state has arrived! When an “environmental” protection agency is building its own private army with military weapons, body armor and assault gear, you know something has gone horribly wrong with the federal government.
Now, farmers can be subjected to military-style EPA raids and intimidation tactics, almost as if the government itself is engaging in state-sponsored terror against American citizens.
As reported by alternative media outlets, the FDA, too, is building its own military-style “government militia” of armed assault teams. Is this part of the FDA’s continued mission to destroy natural products that compete with the profits of Big Pharma?

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From Inquisitor:

http://www.inquisitr.com/1545317/ebola-treatment-is-working-according-to-official-in-sierra-leone-so-why-such-opposition/

Posted in: Health Posted: October 17, 2014

Ebola Treatment Is Working According to Official In Sierra Leone, So Why Such Opposition?
Sierra Leone Studies Silver For Ebola

Ebola Treatment Options Sierra Leone 665x385

A government official in Sierra Leone says that some people are recovering from Ebola because of a new treatment. The Minister of Information Alpha Kanu recently wrote in a letter that “this works; people are getting better.” But efforts to get this information and the treatment itself to people have met with great opposition on the part of the United States FDA and others. At this point, every option to treat Ebola, both pharmaceutical and natural, remains experimental. So why is this one option being met with so much resistance?

The option that has Kanu’s enthusiastic approval is a nutrient that is not manufactured by a big-name pharmaceutical company. It is called Nano Silver, in a 10 parts-per-million solution, made by the non-profit Natural Solutions Foundation. But it has not been easy to get the product to the countries that need it most.

According to a statement by NSF’s Medical Director Dr. Rima Laibow, a shipment of the product was shipped to Sierra Leone on August 20. However, it didn’t arrive until “September 28, 5 weeks later while the disease spread and people suffered and died unnecessarily because international forces opposed the simple clinical demonstration of the nutrient.” The shipment follows a statement made by the World Health Organization on August 12, reported by Mashable, that acknowledges that there is not yet a proven treatment, but even unproven options should be made available to people afflicted with Ebola.

“In the particular circumstances of this outbreak, and provided certain conditions are met, the panel reached consensus that it is ethical to offer unproven interventions with as yet unknown efficacy and adverse effects, as potential treatment or prevention.”

Ebola In Sierra Leone

Sierra Leone Ebola Outbreak
The FDA in the U.S. has cracked down on the Natural Solutions Foundation, as well as two other companies marketing natural products, for making disease claims that they have not authorized, as reported previously by The Inquisitr. NSF is pushing back. According to the FDA’s website, nutritional supplements, essential oils, herbs, and other natural products cannot claim to “diagnose, treat, cure or prevent any disease.” Those products must post a disclaimer declaring such, because according to the American government, “only a drug can legally make such a claim.” No matter how effective a natural substance may be, there is, in effect, a gag order on any and all companies marketing them, preventing them from saying so.

Most of the companies selling such products maintain that their products strengthen the body so that it can repair and heal itself. Apparently, that is what is happening in Sierra Leone. Alpha Kanu sent a letter to Dr. Rima saying that “[t]here is no illness that doesn’t have a cure.”

Sierra Leone Alpha Kanu On Ebola

Ebola In Sierra Leone
Just before the shipment reached Sierra Leone, Kanu reportedly made it clear that his government did not need FDA approval to offer it as a therapy option, according to Star Africa. The Honorable Alpha Kanu is a trained chemist, who believes that the people who are suffering in his country have the right to use any and all treatment options that are available to them. It is “a matter of choice,” he believes, resting “on the patients or their families, as to whether to administer it as treatment for Ebola.” The Information Minister worked with President Ernest Bai Koroma to get the nutrient into Sierra Leone.

The American FDA has a long history of suppressing information and companies that offer non-pharmaceutical, natural therapy options, according to Natural News. The gag orders regarding non-drug options for Ebola are simply the latest in a long string of actions aimed at maintaining the monopoly. Nano Silver 10 PPM is not a drug but a nutrient, and as such, is not subject to FDA approval. Nutrients are not capable of being classified as “FDA approved.” Yet, Dr. Rima has collected links to dozens of studies verifying the effectiveness and safety of Nano Silver, including a declassified study by the U.S. Department of Defense from 2009 which found that silver nanoparticles neutralize hemorrhagic fever viruses, including Ebola and Marburg.

Ebola In Sierra Leone Silver Therapy
Kanu notes that, though the unproven drug Zmapp has been highly touted by drug companies as effective, his country has not yet been on the receiving end of that pharmaceutical option.

An article by Black Agenda Report accuses the drug companies of having sinister motives, saying that “the treatment and cure have been held up until now quite simply because of the need for pharmaceuticals to make profit.” Mohga Kamal-Yanni further elaborates.

“Large companies will not invest in research and development for rare and neglected diseases, due to the limited scope for profit. They will continue producing the medicines that can make the highest profits rather than the therapies that are desperately needed for public health.”

Ebola Silver Infographic

According to Kanu, a “philanthropic” Sierra Leonean who is based in Atlanta, Georgia, Imam Sheikh Massally has been credited with sending a shipment of the silver product to be tried for Ebola patients.

“He sent the nutrient Nano Silver – this works; people are getting better. The supply is enough for 300 people and we are going to bring some more.”

Dr. Rima reports that it is not only Ebola patients in Sierra Leone who are benefiting from the silver nutrient therapy.

“High level, reliable sources tell us from at least 4 countries in Africa that Ebola victims appear to be recovering from this deadly infection coincident with them receiving the remarkable nutrient, Nano Silver 10 PPM. This is very hopeful news.

“Their own immune systems appear able to regulate disease-causing multiplication of the weaponized, patented, unleashed and otherwise deadly Ebola virus to maintain homeostasis. They are among those considered ‘lucky’ to have survived.

“Not one country, but several, are reporting these results. Nano Silver 10 PPM is helping people faced with the health disaster move from illness to health.”

Last week she wrote an open letter to the Dallas nurse who first contracted Ebola, offering the Nano Silver 10 PPM free of charge to her and any other person in the U.S. who tests positive for Ebola, for as long as they are able to provide it.

Questions must be asked. Why is the FDA so intimidated by the free sharing of information about a substance that could work? What harm is there in people choosing to take the product, even in conjunction with more traditional therapies? If there is a serious crisis threatening a large part of the human population, why does it matter who gets the credit? Would not true leaders be more interested in solving the problem and saving lives than in political agendas or lining the pocketbooks of certain interests?

[images via Alwasat, occhioche, SLBC, and Dr. Rima Truth Reports]

Read more at http://www.inquisitr.com/1545317/ebola-treatment-is-working-according-to-official-in-sierra-leone-so-why-such-opposition/#tq9eP3q1Uu7bQk6V.99

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