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As I See It

It wasn’t just mom and pops getting all that taxpayer money

Scott Robert Shaw

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It seems that just about everyone who wanted some, got some. The U.S. Treasury Department has now released a list of who got money from the federal government in the form of the massive Payroll Protection Program. The $521 billion forgivable loan program was billed as helping mom and pop shops meet their payroll, and save jobs, during the pandemic. Perhaps the program was a success. It is crediting with preserving about 51 million American jobs. But at what cost? It sure wasn’t just mom and pop stores that pocketed this taxpayer money. Among those on the list of receiving the money are the rich and famous. Rapper Kanye West received between one and two million dollars to help save his line of clothing, which includes shoes that retail for $250 a pair. Should we be footing the bill for a billionaire who sells overpriced footwear? Others on the list include investment firms like Advent Capital Management which has $9 billion in assets. And modernist sculptor Michael Koons, whose “Rabbit” sculpture fetched $91 million at auction last year. He can’t be hurting for cash. Also making the list, The Americans for Tax Reform Foundation, whose mission is to reduce government spending. It seems everyone who wanted this money got it, including those who didn’t deserve or need it.

Scott Robert Shaw serves as WIZM Program Director and News Director, and delivers the morning news on WKTY, Z-93 and 95.7 The Rock. Scott has been at Mid-West Family La Crosse since 1989, and authors Wisconsin's only daily radio editorial, "As I See It" heard on WIZM each weekday morning and afternoon.

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