In the face of the worst economic crisis since the Great Depression, the government launched the Paycheck Protection Program, a trillion-dollar effort to incentivize employers to retain their employees during the quarantine and maintain most of their compensation. The program was administered by the Small Business Association (SBA) and provided forgivable loans to eligible employers who keep their people on payroll. The idea was a good one, but the execution was terrible. There are millions of employees, self-employed people, independent contractors and small businesses who were excluded. Most of the money did not get to where it was intended.
A lot of companies are not open for business, and if the goal was for the money to get to workers, then the government should have avoided all the middlemen and funded the money directly to the employees. The entire economic relief package related to COVID-19 will end up costing about $6 Trillion. The government could have paid every worker in America $4000/mo for six months for only $2.4 Trillion. Think about it. PPP was not a total failure, but it has been too bureaucratic and way too many people who are important to our economy were left out.
There’s no shortage of social media advice on how to get rich—but most of it misses the point. I explain why the first step to real wealth is understanding why it matters, and how the NAHREP 10 principles lay out the blueprint for a richer, more fulfilling life.
The acronym DEI is dead—but the fight for equal opportunity is far from over. I break down why lazy labels set us back, and why we need to rebrand the movement in a way everyone can get behind.
AI is changing the game—and Latinos have a chance to jump ahead. I’ll break down how using AI smartly can help close the wealth gap faster than politics, and why the time to act is right now.