The graph showing the PPP loan distribution by income is kind of unsatisfying because there’s a broad range of incomes in the richest 20%. It would be much more convincing if there was more granularity in that graph. The 80th percentile household income is in the low to mid $100k range. If you have children and live in an expensive city, you’re not rich even if there are a lot of people worse off compared to you.
This is not to say that I’m disputing the reporting showing that there was abuse of the PPP program.
This is not to say that I’m disputing the reporting showing that there was abuse of the PPP program.