Did Mattel pay back their PPP Loan, or is their success subsidized by the government?
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That's where I'm confused, because it was called a loan. But it's in fact a gift? As long as "it's used for Covid" it doesn't have to be paid back? So basically no one has to pay it back, b/c you either "used it for "Covid" or you went BK.... So why do they call it a loan?
These Covid19 relief / stimulus bills, including the $2,000,000,000,000 package Biden is now pushing, represent the single largest transfer of wealth from the pockets of middle class American's into the pockets of multinational corporations in history. The math is pretty simple; $2 trillion divided by 330,000,000 Americans mean that $2000 "relief check" you receive will cost you $6000 to pay for. Where do you think that extra $4k is going? To giant companies like Mattel, who are posting record sales last year. Normally Mattel losses several million dollar a day, do we really want the Federal Government cutting them checks and telling them, "don't worry about paying this back, we got this"?
All companies that took PPP are being subsidized due to Covid, because of the pandemic, which is not anyone’s fault (except those that downplayed the virus, like Trump). Loan forgiveness applied by all companies, and I am sure Mattel did too.