Many Americans were in favor of the Payment Protection Program (PPP) because it was supposedly going to help keep Main Street, USA small and medium sized businesses afloat during the pandemic. However, according to restaurant owner and investor Ray Washburne on Tucker Carlson's show last night (8/13/2020 episode), the US federal government has pulled an absolutely horrible bait and switch on restaurant owners involving the PPP grants. They were supposed to be forgivable loans in the form of grants. But Washburne says that even if the restaurant has failed that restaurant owners may have to pay back 30% to 50% of the loans and it would flow through to their personal income taxes! YIKES!!! Talk about the government changing the rules to screw people over! This also fits into stagflate and tax and lie as this tax scam is both a new tax and also another large lie from the US government. New Richard Duncan interview on McAlvany Weekly Commentary where he also talks about more taxes coming: https://mcalvanyweeklycommentary.com/richard-duncan-its-too-late-to-turn-back-now-so-borrow-more Articles On Restaurant Industry Failures: 1) 80% Of NYC Restaurants Couldn't Afford June Rent https://www.zerohedge.com/markets/80-nyc-restaurants-couldnt-afford-june-rent 2) Nearly 16,000 restaurants have closed permanently due to the pandemic, Yelp data shows https://abcnews.go.com/Business/16000-restaurants-closed-permanently-due-pandemic-yelp-data/story?id=71943970 3) Restaurants that are going out of business due to the pandemic: https://www.mashed.com/231983/restaurants-that-are-going-out-of-business-due-to-the-pandemic/ 4) 85% of independent restaurants may go out of business by the end of 2020, according to the Independent Restaurant Coalition https://www.msn.com/en-us/foodanddrink/foodnews/85-of-independent-restaurants-may-go-out-of-business-by-the-end-of-2020-according-to-the-independent-restaurant-coalition/ar-BB15lLkZ Please visit the Wall St for Main St website here: http://www.wallstformainst.com/ Follow Jason Burack on Twitter @JasonEBurack Follow Wall St for Main St on Twitter @WallStforMainSt You can also checkout the Wall St for Main St Facebook Fanpage at http://www.facebook.com/WallStforMainSt or the Wall St for Main St Facebook Group where you can learn and join in on the conversation! Commit to tipping us monthly for our hard work creating high level, thought provoking content that includes interviews with top experts, analysis and short videos about investing and the economy https://www.patreon.com/wallstformainst Also, please take 5 minutes to leave us a good iTunes review here! We only have about 86 5 star iTunes reviews and we need to get to our goal of over 100 5 star iTunes reviews asap! https://itunes.apple.com/us/podcast/wall-street-for-main-street/id506204437 If you feel like donating fiat via Paypal, Bitcoin, Gold Money, or mailing us some physical gold or silver, Wall St for Main St accepts one time donations on our main website or through Paypal. Send one time donations to our Paypal to the email address: [email protected] Donate Crypto Currency to WS4MS: Send Bitcoin to: 1N5iDrazojYX5rWxmoyp982RDXJzJrFoPC Send Ethereum (ETH) to: 0x748dD59fA5d5dF80E8C0038DD4F60DAb810fe61a Send Litecoin to: MW7g44j5FX9CYEkvfPvxsW5dFjHY84yup4 Send DASH to: XuEEhWptwf1XxP2nFYQxmBfBBJYehqRoBJ Send Zcash (ZEC) to: t1MGcxyWpiH6JeyF9nnWHw9poRpvTW4PT6S Send Bitcoin Cash (BCH) to: qr7mp7f053rwnpxalxljl3f9x5tulzv53ya88d7wch Wall St for Main St is also available for personalized investor education and paid research work (we write research reports and teach). Please email us to learn more about the research work we offer at: [email protected] **DISCLAIMER- ANYTHING MENTIONED DURING THIS AUDIO OR SHORT VIDEO RECORDING IS FOR INFORMATION & EDUCATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE INVESTMENT ADVICE. JASON BURACK AND HIS GUESTS ARE MERELY STATING THEIR OPINIONS ON DIFFERENT TOPICS RELATED TO INVESTING, THE ECONOMY, MARKETS OR COMPANIES. PLEASE TALK TO YOUR INVESTMENT ADVISOR AND DO ADDITIONAL RESEARCH AND DUE DILIGENCE ON YOUR OWN BEFORE INVESTING AND MAKING IMPORTANT INVESTMENT DECISIONS.- DISCLAIMER**